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2. Home >> Private Equity >> Retail / Leisure/ Travel/ Textile >> IntelliStay Hotels Plans To Raise PE Funding
IntelliStay Hotels Plans To Raise PE Funding
By : Deeshesh Chheda | 14 March 2011
Industry : Retail / Leisure/ Travel/ Textile
Category : Private Equity
IntelliStay Hotels Pvt Ltd, that owns and operates theMango Suites, is looking to raise funds through private equity route.
The funds would be used in acquiring new properties and expanding the network.
Founded in 2007 by Prashanth Rao Aroor, IntelliStay Hotels, currently operates 350-rooms across 5 Mango suites and plans to increase it up to
200 hotels over the next 3 years with atleast 10,000 rooms.
Transaction Reference: Economic Times
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The company plans to add most of the properties in tier II and III cities. It is aimimg to have 30 hotels by the end of this calendar year.
IntelliStay was started with a capital of $15 Mn, which was raised from two HNIs - Nextt Management and OM Dayal Group in Uddupi ,
Karnataka.
The hotels doesn't have any food and beverage segment and instead had tied-up with local restaurants and caterers for food service, thereby saving cost
both in operations and workforce.
Peppermint Hospitality India Pvt Ltd, that runs Peppermint Hotels, is also planning to raise funds for its expansion plans.
Some other players in this space are Ginger Hotels of the Tata Group, Ista Hotels of IHHR Hospitality Private Limited which is backed
by Morgan Stanley and Warburg Pincus backed Lemon Tree Hotels.
According to CARE report, the Indian hotel industry is estimated at Rs. 15,000 Cr in FY10 and is estimated to grow at a CAGR of 11.8% over the next
five years to Rs. 26,200 Cr in FY15. This includes both, the revenues from the domestic and international travelers.
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Tags
IntelliStay Hotels Pvt Ltd, Mango Suites ,Prashanth Rao Aroor , OM Dayal Group , Nextt Management ,Peppermint Hospitality India Pvt Ltd ,Peppermint Hotels ,Ginger Hotels , Ista
Hotels, IHHR Hospitality Private Limited ,Warburg Pincus , Lemon Tree Hotels , CARE ,
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3. KVEZAR VIEW
DEAL TRACKER FOR
Date Transaction Type Buyer Size ($mn)
14/03/11 IntelliStay Hotels - Fund Raising Private Equity Looking For -
RECENT TRANSACTIONS IN THE SECTOR
Date Type Buyer Target Size ($mn) State
02/05/12 Private Equity APG Fund Lemon Tree Hotels Private Limited (Krizm Hotels Private Limited) 123.34 Completed
25/04/12 Private Equity New Silk Route Partners LLC Adiga Fast Food Private Limited - Completed
19/04/12 M&A Samhi Hotels Private Limited Royal Orchid Ahmedabad Private Limited (Formerly Satkar Realties Private Limited) 12.91 Completed
18/04/12 M&A Mahal Hotel Private Limited Chennai Hotel Project - Completed
PROFILES
Company
Name Promoters Office Competitor Website
IntelliStay Hotels Private Limited Aroor Prashanth Rao 1 st Floor, Shankar Vittal, Emporium Nandi Gudda Road. www.intellistayhotels.com
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