Royal Orchid Hotels Ltd, which operates Royal Orchid and Regenta Inn brands, has signed an agreement for a 300 room five-star hotel property at Mumbai airport’s terminal 2, chairman and managing director Chander K. Baljee said on the sidelines of the HICSA hospitality event.

The property, located just a minute away from the terminal, is expected to be operational by late 2024, he added. Last year, the company had secured three properties through revenue-sharing agreements in Gurugram, Pune and Goa.

The company is also set to launch an upmarket full-service hotel brand, offering superior amenities compared to mid-market and budget options, but falling short of the luxury associated with full 4-star or 5-star establishments. Baljee refused to share further details on the new category.

Royal Orchid manages around 100 hotels across India, with a focus on 5-star and 4-star hotels and resorts. Presently, it is in the process of developing 24 hotels in India, and a few others in Nepal.