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Time of India
a day ago
- Business
- Time of India
Pride Hotels Group Strengthens Leadership with Key Executive Promotions, ET HospitalityWorld
Advt Advt By , ETHospitalityWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHospitalityWorld industry right on your smartphone! Download the ETHospitalityWorld App and get the Realtime updates and Save your favourite articles. In line with its belief in growing leadership from within, Pride Hotels Group has elevated its senior leadership team to key positions across strategic regions. This move highlights the Group's dedication to nurturing internal talent and enabling high-performing individuals to drive the next phase of growth and guest-centric innovation across been promoted from executive vice president to executive director . This well-deserved advancement is a testament to Upadhyay's exceptional leadership, unwavering dedication, and significant contributions to the organisation, said a his stewardship, Pride Hotels has strengthened its market position and achieved notable improvements in operational efficiency and employee engagement across all his new capacity as executive director, Upadhyay will take on a broader strategic mandate, working closely with the Board and Senior Leadership to shape the Group's future vision, drive pan-India initiatives, and further enhance the Group's commitment to excellence and Jain, CEO, Pride Hotels Group, shared his thoughts on the elevation, 'Mr. Atul Upadhyay has been a cornerstone of our leadership journey. His strategic thinking, people-first approach, and deep operational expertise have helped us scale new heights. As Executive Director, I am confident he will continue to play a transformational role in our growth story. This promotion reflects our deep belief in recognising and empowering leaders who embody the values and vision of Pride Hotels"A dynamic hospitality veteran with over 30 years of experience, Binay Thakur brings a wealth of operational expertise and regional insight. He has successfully helmed several key properties in Kolkata and Jharkhand, significantly contributing to the brand's visibility and market penetration in Eastern India. In his new role, Thakur will oversee all operational functions and drive strategic growth initiatives across the Eastern region, with a focus on service excellence and asset for his hands-on leadership and unwavering focus on guest satisfaction, Mohammad Shoeb has played a pivotal role in strengthening Pride's presence across North India. With more than three decades in the hospitality industry , he brings strong operational acumen and deep-rooted industry relationships across metros and emerging cities. As vice president – northern region, he will lead operations, asset growth, and business development across key destinations, including Delhi, J&K, Uttarakhand, Rajasthan and beyond.A strategic thinker and data-driven leader, Kushal Ranjan has been instrumental in transforming the Group's revenue management architecture. With deep expertise in pricing intelligence, digital channel optimization, and market analytics, he continues in an expanded role that now includes enterprise-wide revenue optimization, OTA relations, and distribution strategy. His commercial foresight will be central to aligning business outcomes with evolving consumer trends and market Mukherjee is a passionate hotelier known for his collaborative leadership style and strong owner relationships. Having delivered sustained growth and operational consistency across Gujarat, he now takes on an expanded mandate covering Gujarat, Goa, Andhra Pradesh, and Telangana. In his new role, he will focus on expanding regional footprint, supporting new hotel openings, and reinforcing brand standards and profitability across a culturally diverse region.
Time of India
31-05-2025
- 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
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.
Time of India
31-05-2025
- Business
- Time of India
Travel and hospitality companies prepare for IPO amid rising domestic tourism
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 happens. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why Seniors Are Snapping Up This TV Box, We Explain! Techno Mag Learn More Undo ET 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 matter. The company declined to comment. Pride Hotels Group has over 60 hotels comprising over 5,500 keys across India. Boutique 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 rooms. Live Events Agencies DRHPs Underway Its 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 2. In 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 IPO. Last 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 opportunities. STRONG DEMAND Companies 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 added. Companies 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.
