Kamat Hotels rallies on inking new property in Uttarakhand

Kamat Hotels (India) surged 9.86% to Rs 312.60 after the company signed an agreement for the management and operations of the Orchid Hotel in Rishikesh, Uttarakhand.

The hotel will feature 54 elegantly designed rooms, surrounded by a dense forest, with luxurious rooms of various types. It will also offer a state-of-the-art, high-end spa, a swimming pool, a modern recreation center, and a dedicated yoga center located next to a decades-old Shivling temple, all designed for those seeking relaxation and peace.

Additionally, the property will include a fully equipped conference room, making it an ideal venue for corporate retreats and wedding celebrations. Guests can enjoy exquisite dining experiences at the 24-hour all-day dining restaurant and the Mountain View Bar.

Vishal Kamat, Executive Director, said, The hotel is expected to be fully operational by July 2025.

Dr. Vithal Kamat, chairman & MD, said, This will enhance our presence in the hospitality sector of Uttarakhand with the second Orchid Hotel opening here. The first hotel was signed in Dehradun, Rishikesh, nestled in the Himalayas along the Ganges River in Uttarakhand, India, a spiritual and cultural hub known as the Yoga Capital of the World. This revered Hindu pilgrimage town features temples, ashrams, and renowned yoga centers. As the Gateway to the Garhwal Himalayas, Rishikesh attracts both spiritual seekers and adventure enthusiasts.

Kamat Hotels (India) operates a diverse portfolio of luxury and mid-premium hotels across India. Their brands include the "Orchid" chain, along with Fort JadhavGadh, Mahodadhi Palace, Lotus Resorts, and IRA by Orchid. The company focuses on continuous property improvement and expansion, primarily utilizing lease agreements, revenue sharing, and management contracts for growth.

On a consolidated basis, Kamat Hotels (India)'s net profit soared 215.7% to Rs 26.2 crore in Q3 FY25 as against Rs 8.3 crore in Q2 FY25. Operational income spiked 29.9% to Rs 110.9 crore in Q3 FY25 over Q2 FY25.

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