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Pride Hotels Limited has expanded its presence in Madhya Pradesh by signing a long-term lease agreement for a 141-key hotel in Indore. The property will operate under the Pride Plaza brand, becoming the fifth hotel in the company’s Plaza portfolio after Delhi, Ahmedabad, Kolkata and Jaipur. The development also marks Pride Group of Hotels’ second property in Indore, strengthening its footprint in one of central India’s key commercial and industrial centres. The company said the agreement reflects its continued focus on growth through strategic expansion while reinforcing its commitment to the Indore market and the wider region.
Pride Hotels Limited has signed a long-term lease agreement for a 141-key hotel in Indore, Madhya Pradesh, further expanding its hospitality portfolio in the city and strengthening its presence in central India. The announcement was made on Tuesday, with the property set to operate under the Pride Plaza brand.
The hotel, to be known as Pride Plaza Indore, becomes the fifth property under the company’s Plaza brand. The portfolio currently includes hotels in Delhi, Ahmedabad, Kolkata and Jaipur. With the addition of the Indore property, the company continues to expand its presence across major business and tourism destinations in the country.
The signing also marks a significant milestone for the Pride Group of Hotels in Indore. Pride Plaza Indore will be the group’s second hotel in the city, reflecting its continued focus on strengthening operations in markets that offer sustained demand from business and leisure travellers.
The company has entered into the arrangement through a long-term lease model, a strategy that allows hotel operators to expand their footprint without directly owning the underlying assets. Such agreements have become increasingly common within the hospitality sector as operators seek to scale operations while maintaining capital efficiency.
Commenting on the development, Sureshchand Premchand Jain, Managing Director of Pride Hotels Limited, said the company had successfully operated several hotels under an asset-light model and viewed the long-term lease agreement as a demonstration of its stronger commitment to Indore and the surrounding region.
The company did not disclose financial details of the transaction or provide a timeline for the commencement of operations at the property. Additional details regarding facilities and amenities were also not announced.
Indore has emerged as one of Madhya Pradesh’s most prominent commercial centres, attracting investment across manufacturing, services and infrastructure sectors. The city has also witnessed growing demand for quality hospitality assets driven by business travel, events and tourism-related activity.
With the addition of the new 141-key property, Pride Hotels is further consolidating its position in the city while expanding the reach of its Pride Plaza brand. The latest signing adds to the company’s existing network and underscores its continued emphasis on strategic growth through management and lease-led expansion models.
Source - PTI
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