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Budget Hotel Chain FabHotels Adds Over 100 Premium Hotels
OutlookIndia
·
2y ago
Medial
FabHotels, an e-commerce startup, has expanded its offerings by incorporating more than 100 high-end hotels, ensuring a budget-friendly yet luxurious lodging experience. This move reflects FabHotels' commitment to enhancing affordable luxury in the hospitality sector through its growing selection of premium accommodations. It has added properties in cities like New Delhi, Chennai, Pune, Hyderabad, Bangalore and Mumbai
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Two Delhi-based premium hotels seek buyers as top hospitality chain weighs a bid
VCCircle
·
3m ago
Medial
Two premium hotels in Delhi are reportedly seeking buyers, with a major Indian hospitality chain potentially interested in acquiring both assets. The Suryaa, a luxury hotel with 245 rooms in South Delhi, is one of the properties up for sale. The developments are unfolding separately, as two companies aim to offload one of their premium hotels each, attracting strategic buyers to potentially acquire these valuable hospitality assets.
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Exclusive: Bloom Hotels to raise $9 Mn in new round
Entrackr
·
2m ago
Medial
Exclusive: Bloom Hotels to raise $9 Mn in new round Delhi-based hospitality chain Bloom Hotels is set to raise Rs 77.7 crore (around $9 million) in its first funding round of 2025, with participation from Samena Capital Limited and Ikonika Holdings. Bloom Hotels' board has approved a special resolution to issue 7.77 crore compulsory convertible preference shares to raise the said amount, according to its filing with the Registrar of Companies (RoC). The proceeds will be used to fuel the company’s growth and expansion plans, the filing added. The hospitality company operates hotel brands such as Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms. Currently, it has over 50 hotels across cities including Mumbai, Pune, Udaipur, Jaipur, and the NCR. The company has already secured around Rs 362 crore (approximately $45 million) from Samena Capital, which now holds a majority stake in the hospitality chain. Bloom Hotels is yet to file its financials for FY25. However, the company has witnessed over 5X growth in the past two years, with revenue rising from Rs 49 crore in FY22 to Rs 250 crore in FY24. It also reported a net profit of Rs 14 crore for the fiscal year ended March 2024. It competes with Treebo Hotels and FabHotels, which posted operating revenues of Rs 88.6 crore and Rs 224 crore, respectively, in FY24. It also faces competition from newer players like Salt Stayz and larger brands such as Oyo, through its Sunday Hotels.
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FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%
Entrackr
·
6m ago
Medial
FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23% Casa2 Stays, the parent firm of FabHotels, reported a 34% increase in gross revenue for the fiscal year ending March 2024. However, its loss rose by 23%, driven by a twofold increase in employee benefit expenses. FabHotels’ gross revenue increased to Rs 552 crore in FY24 from Rs 412 crore in the previous fiscal year (FY23), according to its financial statement sourced from the Registrar of Companies (RoC). The revenue for FY23 appears different this year as it marks FabHotels’ first set of financial statements prepared in compliance with Indian Accounting Standards (Ind AS). FabHotels, a budget hotel chain with over 600 properties across more than 50 cities in India, generated 99.4% of its gross revenue from accommodation bookings. Gross revenue increased by 33.35% to Rs 549 crore in FY24. Meanwhile, other revenue sources contributed Rs 3.3 crore. The company also recorded an additional income of Rs 11 crore from interest on deposits and liabilities written off, which pushed its overall revenue to Rs 563.6 crore in the last fiscal year. Accommodation expenses remained the largest cost component forming 74% of the overall cost, which grew by 32% to Rs 435 crore. FabHotels’ employee costs shot up 2X to Rs 92 crore in FY24. This includes Rs 15 crore as ESOP cost. Its commission expenses rose by 8% to Rs 27 crore, while other costs added Rs 34 crore. Overall, total expenses grew by 38.5% to Rs 588 crore in FY24 from Rs 424.7 crore in FY23. The two-fold jump in employee benefits led FabHotel to increase its losses by 23% to Rs 114 crore in FY24, compared to Rs 93 crore in FY23. Its ROCE and EBITDA Margin were recorded at -84.09% and -19.52%, respectively. On a unit basis, the company spent Rs 1.06 to earn a rupee of revenue. At the end of FY24, FabHotel’s current assets stood at Rs 172 crore, including cash and bank balances worth Rs 94 crore. FabHotel has raised around $70 million to date. Accel is the largest external stakeholder with 21.39% followed by Goldman Sachs. FabHotels competes directly with Treebo and Bloom Hotels. In FY24, Treebo surpassed Rs 100 crore in revenue, while Bloom Hotels achieved a 73.6% increase in operational revenue to Rs 250 crore and recorded a profit of Rs 14 crore. FabHotels, with its budget offerings and reach, faces a moment of truth to deliver sustainable profitability that can power future growth. The hospitality sector leaves very little margin for major misses now. FabHotels has placed its bets, with little leeway to change much now. Judgement awaits in the next few months and year, perhaps.
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OYO to buy US hotel chain Motel 6, which operates 1,500 hotels, for ₹4,400 crore
Inshorts
·
10m ago
Medial
OYO will be buying iconic US budget hotel chain Motel 6 from its Blackstone-owned parent G6 Hospitality in an all-cash transaction for $525 million (nearly ₹4,400 crore). The sale, expected to close by 2024-end, would include Motel 6's offshoot hotel brand Studio 6. Motel 6 was founded in 1962 in California and currently operates about 1,500 hotels across North America.
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GIC, Asiya Capital-backed company that runs Marriott, Hyatt hotels strikes M&A
VCCircle
·
10m ago
Medial
- Samhi Hotels Ltd, backed by GIC and Asiya Capital, acquires a hotel in Bengaluru - The Gurugram-based company manages hotels under Marriott, Sheraton, and Hyatt brands - The hotel acquisition is in the technology hub of Bengaluru - Samhi Hotels Ltd is known for its premium hotel properties - The deal highlights the continued investment and expansion in the Indian hospitality sector.
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FabHotels raises $20 Mn to scale new vertical TravelPlus
Entrackr
·
1y ago
Medial
Casa2 Stays, the parent company of FabHotels, has secured $20 million in funding led by Panthera Capital, with participation from existing investors. The funding will support the expansion of FabHotels' new vertical, TravelPlus, which focuses on business travel and expense management. TravelPlus has partnered with over 350 companies, offering hotel booking solutions across India. FabHotels reported INR 150 crore in revenue for FY22, with reduced losses compared to the previous year.
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Lemon Tree eyes co-branding alliances with international hotel chains
Livemint
·
8m ago
Medial
Indian hotel chain, Lemon Tree Hotels, is preparing to capitalise on the growing demand for hotel rooms in India as consumer spending on branded hotels increases. The company plans to list its subsidiary, Fleur Hotels, in the next two years to decrease debt and is considering alliances with international hotel chains. Lemon Tree currently has 112 hotels and is developing an additional 86 properties. The company reported a 24% increase in consolidated revenue for Q2 2019, and a 34% increase in net profit. Founder Patanjali G Keswani believes there is ample opportunity for growth in India's hotel industry, particularly in smaller, unbranded hotels.
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MakeMyTrip partners with UK's largest hotel chain Premier Inn to list 900+ hotels
IndianStartupNews
·
10d ago
Medial
MakeMyTrip has partnered with Premier Inn, the UK's largest hotel chain, to add over 900 hotels to its inventory, enhancing accommodation options for Indian travelers in the UK. This strategic move aims to strengthen MakeMyTrip's presence in long-haul markets. The addition brings its directly contracted hotel numbers to over 2,000 across 50 cities in 20 countries. This partnership seeks to offer competitive pricing and diverse accommodation options for Indian tourists.
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Oyo to add over 1000 hotels under Accelerator Programme by December
Economic Times
·
2y ago
Medial
OYO plans to expand its portfolio by adding over 1,000 hotels by December. The company aims to attract 100 first-generation hoteliers into its network, offering them the benefits of technology, marketing, and operational expertise. This initiative reflects OYO's strategy to strengthen its presence and provide support to small hotel owners, enabling them to thrive in the competitive hospitality industry. Oyo said it also plans to add over 100 first generation hoteliers operating these hotels across India.
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Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Entrackr
·
7m ago
Medial
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.
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