Advertisement
The Gulf conflict has disrupted global supply chains, pushed...
REITs have changed the way commercial real estate is owned a...
What does it take to preserve a real estate legacy while bui...
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Pride Hotels is planning to launch its initial public offering (IPO) by December, with the proposed issue expected to be valued at around INR 1,000 crore. The hospitality chain is pursuing an expansion strategy focused on leisure destinations, wedding and corporate events, and pilgrimage locations. Chief Executive Officer Satyen Jain said the company’s rapid addition of properties has been a key component of its growth strategy. Pride Hotels has opened nine hotels over the past 12 months, including its recently launched property in Indore. The proposed IPO comes as the hotel operator continues to expand its portfolio across multiple hospitality segments and markets, with the company seeking to support its growth through a broader presence across leisure, events and pilgrimage-led destinations.
Pride Hotels is targeting December for the launch of its initial public offering (IPO), with the proposed issue size expected to be around INR 1,000 crore, as the hospitality chain continues to expand its hotel portfolio across leisure, wedding and corporate events, and pilgrimage destinations.
Chief Executive Officer Satyen Jain said the company’s rapid expansion had remained a key element of its growth strategy. The planned public offering comes as Pride Hotels increases its presence across different hospitality markets and destination categories.
The company has added nine hotels to its portfolio over the past 12 months, reflecting the pace at which it has been expanding its operations. Jain said the additions included the recently launched property in Indore, which has further expanded the chain’s presence in the city.
Pride Hotels’ expansion strategy covers three key segments — leisure destinations, wedding and corporate events, and pilgrimage locations. The company is developing its portfolio across these categories as it seeks to broaden its presence in markets supported by different forms of hospitality demand.
The proposed IPO, with an expected issue size of around INR 1,000 crore, is planned for launch by December. The company’s stated expansion programme and recent additions to its hotel portfolio form the backdrop to its plans to access the public markets.
The addition of nine hotels within a year represents a significant increase in the company’s operating footprint. The Indore property is among the latest additions, while the broader expansion programme is centred on establishing hotels in destinations linked to leisure travel, events and pilgrimage.
Pride Hotels has not disclosed further details of the proposed IPO in the information available, including the precise issue structure or the allocation of the proceeds. The company’s planned market debut is expected to coincide with its ongoing hotel expansion programme.
Source: PTI
Advertisement
Facebook
Whatsapp
