Latest news with #LaRiSaHotels&Resorts
Economic Times
31-05-2025
- Business
- Economic Times
Travel and hospitality companies prepare for IPO amid rising domestic tourism
"Indian hotel companies are tapping public markets to fuel their next phase of growth, reduce debt, and scale operations," said Amrendra Singh, head of equity capital markets at SBI Capital. Several Indian travel and hospitality companies are planning initial public offerings. Oyo, Pride Hotels Group, and LaRiSa Hotels & Resorts are among them. Lemon Tree Hotels will list Fleur Hotels in two years. The Leela Palaces, Hotels and Resorts, concluded its IPO in May. Prestige Hospitality and Travel Food Services have also initiated IPO processes. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi|Mumbai: About half a dozen travel and hospitality companies are preparing to go public buoyed by favourable demand-supply dynamics, rising domestic tourism, and bullish macroeconomic fundamentals. Those in the queue include Oyo, Pride Hotels Group, and boutique brand LaRiSa Hotels & Resorts. Lemon Tree Hotels plans to list unit Fleur Hotels in the next two years, Patanjali Keswani, chairman and MD, told ET. Last year, Keswani had said that the chain will be debt-free when the listing reported on Thursday that hospitality chain Oyo approached five investment banks for a meeting with key shareholder SoftBank in London next month that could determine the company's way forward for an initial public offering (IPO). Also, Pride Hotels Group, which has a presence in Delhi's Aerocity area, and recently expanded its footprint in Gujarat, through new signings in Gandhinagar and Surat, has begun initial groundwork for an IPO, said people familiar with the company declined to comment. Pride Hotels Group has over 60 hotels comprising over 5,500 keys across hospitality chain LaRiSa Hotels & Resorts is also aiming to go public, director Randhir Narayan told ET. The chain operates about 32 hotels comprising around 1,100 brands include LaRiSa Resorts, AM Hotel Kollection and 8fold by LaRiSa. The chain also does third-party hotel property management through its AM Hotel Kollection brand."The business is profitable, cash flow is there, and every month, we are trying to bring to the market a rebranded or a conversion hotel from our portfolio," said Narayan. "The plan is to (launch the) IPO and our timeframe is as soon as possible. We are hopeful that sometime this year it should come to fruition."Brookfield Asset Management-owned The Leela Palaces, Hotels and Resorts, which concluded its IPO on May 28, will get listed on June April, Prestige Hospitality Ventures Ltd, a wholly-owned unit of property developer Prestige Estates Projects Ltd, filed a draft prospectus with the Securities and Exchange Board of India (Sebi) to raise up to Rs 2,700 crore through an IPO, while Travel Food Services, with a strong presence in India's airport food and lounge sector, secured Sebi nod in April for a Rs 2,000 crore November, Brigade Hotel Ventures, a wholly-owned unit of Brigade Enterprises, submitted a draft prospectus to Sebi for a Rs 900-crore IPO. The company aims to cut debt with the share sale proceeds besides considering inorganic growth are also enthused by promising returns of already-listed hotel stocks in the past year."With India's tourism industry booming, there is likely to be a strong demand for hospitality stocks among domestic investors. The sector is benefiting from rising travel, increasing disposable incomes, and a post-pandemic resurgence in both leisure and business travel," said Dharmesh Mehta, MD and CEO, DAM Capital. "Moreover, listed hotel stocks are currently trading at reasonable valuations, making the sector attractive from a pricing perspective. As a result, hotel companies coming to the market with sensible valuations should be able to attract healthy investor interest in the primary market," he such as Ventive Hospitality and Samhi Hotels have risen more than 18% and nearly 52% respectively from their IPO price."Indian hotel companies are tapping public markets to fuel their next phase of growth, reduce debt, and scale operations," said Amrendra Singh, head of equity capital markets at SBI Capital.
Yahoo
01-04-2025
- Business
- Yahoo
LaRiSa Hotels & Resorts introduces mid-market hospitality brand 8fold in India
LaRiSa Hotels & Resorts has introduced its new 8fold brand in the mid-market hospitality segment in India. The brand aims to serve upper-middle-class travellers, and features boutique-style hotels priced between Rs4,000 and Rs9,000 ($46.76 and $105.20) per night. LaRiSa Hotels and Resorts founder and CEO Priya Thakur said: '8fold by LaRiSa is not just about boutique stays—it's about reimagining hospitality through a lens of mindfulness, integrity, and guest-first service." The company currently operates 32 properties across India and abroad. The first three properties launched under this brand comprise 8fold by LaRiSa Shimla, 8fold by LaRiSa Jibhi, and 8fold Pinecrest by LaRiSa Bhimtal, all located in India. A fourth hotel, 8fold by LaRiSa Siolim in Goa, will open shortly. It will offer 15 guest rooms and is located near Goa's beaches. With a vision to grow to 50 hotels by the end of this year, 8fold aims to offer a contemporary experience, focusing on eco-conscious stays. The new brand is also seeking hotel owners to join its managed portfolio. LaRiSa Hotels and Resorts director Randhir Narayan said: 'As for owners who would like to partner with us, our comprehensive support with facility planning, operations, sales, marketing and technology will assist them in creating a standardised product and also benefit them as they will be part of a brand that is managed and marketed under an organised sector." This launch follows an announcement last month of a merger between LaRiSa Hotels & Resorts and AM Hotel Kollection, "LaRiSa Hotels & Resorts introduces mid-market hospitality brand 8fold in India" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
