Prestige Hospitality Aims for $318 Million IPO to Fuel India’s Luxury Hotel Boom

Prestige Estates' hospitality division, Prestige Hospitality Ventures, has filed a ₹2,700 crore ($318 million) IPO to expand its luxury hotel chain in India. The issue includes a fresh issue of ₹1,700 crore and an OFS of ₹1,000 crore with proceeds to be utilized to fund new projects and repay debt.

 

The Bengaluru-based firm has 1,445 keys across seven hotels, such as JW Marriott and Conrad hotels, and plans to double its inventory in 3-4 years. Its upcoming projects are St. Regis Bengaluru and a Delhi Aerocity convention center constructed with Marriott.

 

With ₹14,393 average room revenue (9M FY25) and growing domestic travel demand, Prestige seeks to capitalize on India's hospitality bounce-back. J.P. Morgan, Kotak, and CLSA are managing the IPO, which comes after successful Samhi and Juniper Hotels listings.

 

Sources: Economic Times, Hindustan Times, Skift