₹10,000 Crore Bet on Indian Hotels Is Only Getting Bigger

Wave of IPOs and deals set to continue as companies expand to meet growing demand

- Varuni Khosla

India's hospitality sector has seen a wave of funding, with companies pouring over ₹10,000 crore from initial public offerings and internal resources into new properties, acquisitions, and upgrades since 2023. There's more to follow as legacy and emerging hotel management firms prepare for long-term growth in metros to tier II and III cities, say experts.

"What we're seeing now is not just expansion—it's a recalibration of the sector," Nikhil Sharma, managing director and COO—South Asia, Radisson Hotel Group, told Mint. Consolidation and capitalization, he said, are helping companies scale up faster and tap into emerging markets.

This inspires confidence in newer entities that want to list. Northeastern chain Hotel Polo Towers, Mint has learned, is preparing for an initial public offering while Pride Hotels has revived its 2017 listing plan. They follow Schloss Bangalore (which owns The Leela), ITC Hotels, Ventive Hospitality and Brigade Hotels, which have listed or have filed for an IPO in the past year.