Oyo-Parent Prism Raises $5.6 Million to Scale Premium Hotel Portfolio
Photo Credit: Sunday Alaya Resort Corbett. Prism
Skift Take
Oyo-parent Prism has been steadily and aggressively moving towards premiumization to capitalize on changing trends within India. The latest funding gives it the necessary capital to make the pivot as it prepares for an IPO.
Oyo’s parent company Prism has received INR 500 million ($5.6 million) for its hospitality asset management arm Sunday PropTech, the company said in a statement. The investment came from a consortium of investors led by financial services group InCred and investment firm Analah.
Sunday PropTech, also called Oyo Assets, focuses on acquiring and developing high-quality hotels across India in the premium and mid-premium category. These hotels are then operated under Prism’s premium brands including Sunday, Palette, and Townhouse.
The acquisition is done through management contracts, allowing Prism to maintain its asset-light strategy while still scaling its company-serviced portfolio.
Explaining the rationale behind the investment, InCred’s Chief Investment Officer Saurabh Jhalaria said, “In India, we have already seen listed companies like Samhi Hotels, Chalet Hotels and Brigade Hotels build large portfolios of premium assets in par
