14
India News
www.asianhospitality.com
September 2025 | Issue 24
YO is reportedly planning to file its
Draft Red Herring Prospectus in
November for an IPO targeting a
$7 to 8 billion valuation. The company will
present the proposal to its board next week.
Discussions with banking partners have
increased in recent weeks, with valuation
guidance at $7 to 8 billion, or 25 to 30 times
EBITDA, Press Trust of India reported
citing sources.
"While we cannot comment on any
timelines related to OYO's DRHP or IPO
plans, as these will be guided by OYO's
board of directors and remain at their
discretion, OYO continues to evaluate a
range of strategic options to drive value for
its stakeholders," a company spokesperson
told PTI.
In May, OYO delayed its third IPO
attempt due to opposition from its largest
shareholder, SoftBank, and market
volatility.
“Over the past few months, SoftBank
has engaged with banks such as Axis,
Citi, Goldman Sachs, ICICI, JM Financial
and Jefferies in London to assess market
sentiment. After assessing market feedback,
they are now confident in their decision,”
one person aware of the developments
was quoted as saying. “The board will be
approached next week as the company
firms up the details and finalises key
strategic elements."
SoftBank remains one of OYO's largest
shareholders. Insiders indicate the
filing will showcase OYO's first-quarter
financial performance, the report said. The
hospitality industry also saw double-digit
growth this quarter.
OYO is planning a new parent brand
identity to unify its portfolio. Earlier this
year, OYO CEO Ritesh Agarwal asked for
name suggestions for Oravel Stays Ltd
on social media. The chosen name may
become the group's new name. OYO is also
exploring a separate app for its premium
and mid-to-premium company-serviced
hotels, as the segment has grown across
India and global markets.
OYO added more than 150 hotels to its
U.S. portfolio in the first half of 2025 and
plans 150 more by year-end.
Report: OYO eyes $7-8B IPO
filing in November
It plans a new parent brand identity to unify its portfolio
restige Hospitality Ventures
recently received Securities
and Exchange Board of India
approval for a $325 million initial
public offering. The company
develops and operates luxury to upper
midscale hospitality assets and is part
of Bengaluru-based Prestige Group,
promoted by Prestige Estates Projects.
The offer comprises a $205 million
fresh issue of shares and an offer
for sale of up to $120 million by
promoters Prestige Estates Projects,
Economic Times reported.
Prestige Hospitality Ventures, led
by CEO Suresh Singaravelu, plans to
use $135 million from the fresh issue to
repay $48 million in debt incurred by
itself and its subsidiaries, Sai Chakra
Hotels and Northland Holding Co.,
while reinvesting $87 million into these
subsidiaries.
Additional funds will support
growth through acquisitions, strategic
initiatives and general corporate
purposes, the Times said.
As of December 2024, its portfolio
included seven hotels with 1,445
keys—1,255 operating and 190 under
renovation. It also has three ongoing
projects with 951 keys and nine planned
projects adding 1,558 rooms, making it
the largest hotel chain in South India.
The portfolio spans Bengaluru, Delhi-
NCR, Mumbai, Goa, Hyderabad and
Chennai, covering convention centers,
business hotels, extended stay
residences and golf resorts.
The company operates hotels
under several Marriott International
brands—St. Regis, Edition, W Hotels,
JW Marriott, Marriott Marquis,
Sheraton, Autograph Collection,
Tribute Portfolio, Moxy, Aloft and
Marriott Executive Apartments—as
well as Conrad by Hilton and Angsana
Resorts & Spa by Banyan Tree.
Marriott-managed keys account for
nine percent of the group’s portfolio,
the largest share under any brand.
Meanwhile, revenue from hospitality
services rose to $96 million in the
previous fiscal year, up from $77 million
in fiscal 2023.
Prestige is adding 2,509 rooms
through ongoing and upcoming projects,
including three ongoing projects with 951
keys and nine planned projects with 1,558
keys across seven Indian cities.
India’s Prestige secures $325M IPO approval
Marriott-managed keys make up 9 percent of the group’s portfolio
OYO plans to file its Draft Red Herring
Prospectus in November for a $7 to 8 billion IPO,
according to Press Trust of India.
India’s Prestige Hospitality Ventures recently secured
Sebi approval for a $325 million initial public offering.