The identity of an organization is critical to its market acceptance and success. Conceptualized from a process-oriented perspective, organizational identity is viewed as a temporal phenomenon that is shaped and reconstructed over time. Extant literature on organizational identity discusses in detail its definitions and epistemological and ontological dimensions. However, the dynamics involved in the process of organizational identity reconstruction in the context of an evolving external environment, are not adequately examined. Though leaders are known to reconstruct their organization’s past to obtain acceptance, the knowledge of how materiality is mobilized in identity reconstruction of organizations with deep history remains inadequate. We address this critical knowledge gap in this paper. Employing a unique single-case study of the former royal family of Mewar (Rajasthan), India spanning over 13 centuries, this paper examines how the 75th-generation family leader reconstructed their organizational identity from that of the rulers/administrators to successful luxury hoteliers, as they converted their old palaces into luxurious heritage hotels. This was a significant and challenging transition for the Mewar royal family. The family faced monetary constraints and a lack of management competence to run the hospitality business. The study identifies that the Mewar family leaders reconstructed the organizational identity in four distinct phases through bricolage and dynamic capability renewal employing a mix of materiality, and socio-economic and cultural connections with the local community. The bricolage elements contributed authenticity, legitimacy, competence, and social embeddedness to the reconstructed identity of the business.