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Time of India
4 days ago
- Business
- Time of India
Hospitality IPO: Travel and hospitality companies prepare for IPO amid rising domestic tourism
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT 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.
Economic Times
4 days ago
- 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.
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Business Standard
5 days ago
- Business
- Business Standard
IPO-bound Oyo seeks to rename parent firm to pursue premiumisation
Oyo Founder Ritesh Agarwal has invited name suggestions for its parent firm Oravel Stays, in a strategic move as the global travel tech platform prepares to launch its IPO and looks to have more premium segment offerings. There is a high possibility that the name chosen through the exercise may end up being the name of the premium hotels app that Oyo has been working to launch in the near future, people familiar with the strategy told PTI. Agarwal took to social media platforms to seek name suggestions to help craft a "new identity". "We're renaming the corporate brand behind it all. Not the hotel chain, not a consumer product -- but the parent company powering a global ecosystem of urban innovation and modern living. We believe it's time the world had a new kind of global brand -- born in India, but built for the world," the Oyo founder said in the post on Thursday. Agarwal shared that it should be a bold, one-word corporate name, global in feel, not tied to one culture or language, tech-forward, sharp, but also human and memorable, and broad enough to grow beyond hospitality, preferably with a .com domain available. He offered a prize of Rs 3 lakh to the winner along with a chance to meet him. PTI had reported that Oyo has arranged for five investment banks to give a crucial presentation to its key shareholder SoftBank in June at the latter's London office on Grosvenor Street, that could determine the company's path to public listing, as it eyes launching an IPO in the last quarter of the current fiscal. "Oyo is actively exploring launching a separate app for its premium hotels and mid-market to premium company-serviced hotels as the segment has seen exponential growth across India as well as its global markets. There is a very high possibility that the name being selected may end up being the name of the premium hotels app that Oyo has been working to launch in near future," said people familiar with the matter.
Time of India
5 days ago
- Business
- Time of India
IPO-bound Oyo seeks to rename parent firm to pursue premiumisation
New Delhi, Oyo Founder Ritesh Agarwal has invited name suggestions for its parent firm Oravel Stays, in a strategic move as the global travel tech platform prepares to launch its IPO and looks to have more premium segment offerings. There is a high possibility that the name chosen through the exercise may end up being the name of the premium hotels app that Oyo has been working to launch in the near future, people familiar with the strategy told PTI. Agarwal took to social media platforms to seek name suggestions to help craft a "new identity". "We're renaming the corporate brand behind it all. Not the hotel chain, not a consumer product -- but the parent company powering a global ecosystem of urban innovation and modern living. We believe it's time the world had a new kind of global brand -- born in India, but built for the world," the Oyo founder said in the post on Thursday. Agarwal shared that it should be a bold, one-word corporate name, global in feel, not tied to one culture or language, tech-forward, sharp, but also human and memorable, and broad enough to grow beyond hospitality, preferably with a .com domain available. Live Events He offered a prize of Rs 3 lakh to the winner along with a chance to meet him. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories PTI had reported that Oyo has arranged for five investment banks to give a crucial presentation to its key shareholder SoftBank in June at the latter's London office on Grosvenor Street, that could determine the company's path to public listing, as it eyes launching an IPO in the last quarter of the current fiscal. "Oyo is actively exploring launching a separate app for its premium hotels and mid-market to premium company-serviced hotels as the segment has seen exponential growth across India as well as its global markets. There is a very high possibility that the name being selected may end up being the name of the premium hotels app that Oyo has been working to launch in near future," said people familiar with the matter.
Economic Times
6 days ago
- Business
- Economic Times
5 banks to present Oyo's IPO plans to SoftBank in London meeting
Oyo is gearing up for a potential IPO, engaging with investment banks like Goldman Sachs and ICICI Securities to present strategies to SoftBank in London. The meeting aims to address valuation metrics and investor interest. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Hospitality chain Oyo has approached five investment banks for a meeting with key shareholder SoftBank in London that could determine the company's path to public listing, sources familiar with the matter told said the banks include Goldman Sachs Citi , and Jefferies from the global banking consortium, alongside ICICI Securities and Axis Capital representing Indian financial institutions. Oyo did not respond to queries seeking comments on the people cited above said the meeting is scheduled to take place at SoftBank's London office on Grosvenor Street, where the banks will present their IPO strategies to founder Ritesh Agarwal and his senior leadership team will also participate in the familiar with the matter said SoftBank, which remains one of Oyo's largest shareholders, is keen to understand the expected valuation metrics, and investor appetite for the anticipated public an email to Oyo's senior leadership in March, founder Ritesh Agarwal had said Oyo is on track to achieve an over 60% year on year revenue growth in quarter four of financial year 2025 at over Rs 2100 crore. ET had seen a copy of the email."A key contributor to this performance has been the integration of G6 Hospitality, adding Rs 275 crore to our revenue," stated Agarwal in his email. "Even without G6, our revenue stands strong at Rs 1886 crore, demonstrating robust organic growth of 42%," he said looking forward, the company expects a profit after tax of Rs 1100 crore for financial year 2026, and an EBITDA of Rs 2000 crore. He attributed the success to the company's performance in 'core markets' such as India and the US along with 'significant' contributions from emerging markets in the South East Asia and the Middle renewed IPO push comes after Oyo had previously filed and refiled its draft papers with the Securities and Exchange Board of India (SEBI) in 2021, seeking to raise Rs 8,430 crore through a public offering. The company finally withdrew those papers in 2024.
