🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

OYO elevates Sonal Sinha as CEO of G6 Hospitality

EntrackrEntrackr · 4m ago
OYO elevates Sonal Sinha as CEO of G6 Hospitality
Medial

OYO elevates Sonal Sinha as CEO of G6 Hospitality Global travel-tech company OYO has elevated Sonal Sinha to Chief Executive Officer of G6 Hospitality, the American motel company it recently acquired from Blackstone Real Estate. The acquisition, completed in December last year, added 1,500 franchised hotels across the US and Canada to OYO's portfolio, significantly expanding its North American presence. The combined entity is projected to generate a Gross Booking Value of approximately $3 billion, with G6 Hospitality—which operates the popular Motel 6 and Studio 6 brands—contributing $1.7 billion. The integration of G6’s portfolio with OYO's existing operations is expected to create significant synergies and accelerate growth across international markets. Sinha joined OYO in 2015 and has since made a substantial impact across various finance functions. As Chief Financial Officer – International Business, he led initiatives to enhance business margins and established critical financial control frameworks, including tax, accounting, and reconciliation. He will continue to report to Gautam Swaroop, CEO – International, OYO. These leadership changes reflect OYO’s continued focus on strengthening its international presence while building a more responsive organization. “Sonal has been instrumental in driving OYO’s international business to new heights,” said OYO Founder & Group CEO Ritesh Agarwal. “His deep understanding of our operations and proven track record of enhancing business performance make him the ideal leader to spearhead G6 Hospitality while maintaining the strong momentum of our global business.” Sinha’s appointment comes as OYO sharpens its focus on creating memorable guest experiences while empowering hotel owners with the tools they need to thrive in today’s competitive market. The integration aims to blend OYO’s tech-forward approach with G6’s established market presence, creating a hospitality offering that resonates with both hotel partners and guests.

Exclusive: Bloom Hotels to raise $9 Mn in new round

EntrackrEntrackr · 1m ago
Exclusive: Bloom Hotels to raise $9 Mn in new round
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.

Download the medial app to read full posts, comements and news.