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OYO Assets, also known as Sunday PropTech and backed by PRISM, has announced plans to acquire 12 hotels during the second half of the current financial year as part of its effort to grow its premium and mid-premium hospitality portfolio. The company mentioned that seven of these properties are already in advanced stages of acquisition. The funding for these acquisitions will come through a combination of debt and equity, supported by PRISM Life, SoftBank, and a consortium led by InCred and Analah. The move aligns with OYO's strategy to strengthen its presence in key hotel segments.
OYO Assets, the PRISM-backed hospitality investment platform also known as Sunday PropTech, has outlined plans to acquire 12 hotels during the second half of this financial year to strengthen its portfolio in the premium and mid-premium categories. The company stated that negotiations for seven of these acquisitions are already in advanced stages. Advertisement
According to OYO, the acquisitions will be financed through a blend of debt and equity, utilizing its solid balance sheet and investor backing. The funding support will come from PRISM Life and its shareholders, including SoftBank, along with a consortium led by InCred and Analah.
Saurav Agarwal, Board Member of Sunday PropTech, noted that the company is targeting hotels located in high-demand areas with strong revenue potential. He explained that the growing demand for quality accommodation in the premium and mid-premium segments, driven by the steady rise in travel activity, presents a clear opportunity for strategic investment.
OYO Assets also plans to explore additional acquisitions in the mid-scale and premium hotel categories, where PRISM already maintains a significant operational base. The newly acquired properties will be operated under PRISM's hospitality brands such as Sunday Hotels, Palette Hotels, and Townhouse.
Currently, PRISM manages a portfolio of more than 1,300 serviced hotels across India, positioning the group among the notable players in the organized hospitality space.
Source PTI
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