New Delhi: OYO parent PRISM-backed OYO Assets has raised Rs 125 crore in a fresh funding round from a clutch of institutional and private investors led by InCred, according to sources.OYO Assets, also known as Sunday PropTech, is focused on acquiring and developing hotels in India across premium and mid-premium segments.
The equity infusion will enable OYO Assets (Sunday PropTech) to expand its presence in key leisure and business destinations and enhance its asset management capabilities.The funding amount in the latest round stands at Rs 125 crore, people aware of the development said.
"The early performance of the portfolio demonstrates resilience, consistent cash flows, and clear unit-level profitability in a sector that is increasingly attracting organised capital. Sunday PropTech stands out for its coherent strategy and its ability to execute with precision. This capital raise strengthens the platform's ability to acquire high-quality assets at scale while maintaining robust financial discipline," Saurabh Jhalaria, Chief Investment Officer, InCred, told PTI.
OYO Assets is targeting 12 hotel acquisitions in the current financial year, with 7 in advanced stages of discussion.These hotels will be operated under PRISM's portfolio of brands, including Sunday Hotels, Palette Hotels, Townhouse and select US brands.The additional capital will enable the company to accelerate its growth aspirations and allow it to scout more actively for attractively priced hotel investment opportunities.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
