Eight Continents Raises Funds For Asset-Light India Growth, Global Expansion
Photo Credit: Stamps by Eight Continents (DhanRains) – Palolem in Goa. Eight Continents
Skift Take
For Eight Continents, India is a key market. However, it is not investing significant capital, especially as India has a gold mine - a significant number of keys that still remain unorganized.
Luxury hospitality and hotel management group Eight Continents Hotels and Resorts has raised $7 million in its first funding round from Singapore-based investment holding company Ionware Inc.
The funds will be used to “acquire and scale hospitality assets while strengthening the brand’s positioning as an experiential, destination-led hospitality platform,” the company said in a statement.
Richa Adhia, managing director at Eight Continents Hotels and Resorts, told Skift that the company has already allocated a “significant portion of the funding towards acquiring hospitality assets in the United Kingdom and other international markets.”
Eight Continents, which currently operates across India, the UK, and East Africa, is in the process of acquiring assets such as La Barbarie in Guernsey and The Vincent Hotel in Southport.
Despite India being a “very important market” for the company, both in terms of demand and supply,
