Bloom Hotels plans to raise Rs 400 cr from PE investors
Bloom Hotels is looking to raise '400 crore from private equity investors amid signs of increased hotel development activity in the hospitality sector, especially outside major metropolitan cities, according to sources familiar with the matter.
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The budget hotel brand has tapped private equity funds such as General Atlantic and Verlinvest to raise funds, which may spill over into the next financial year, according to these sources. The size of the fundraise is also subject to upward or downward revisions, the people cited above said.
Samena Capital is the largest single shareholder in Imperativ Hospitality that operates Bloom Hotels, besides Gobind Akoi, a member of the Akoi family, which also owns Delhi's historic The Imperial hotel.
The company claims it is now moving its focus to new, fast-growing tier-two and -three markets. The sub-brands under Bloom Hotels include bloomrooms, bloomSuites, bloomHubs, bloomBoutiques, and X by bloom.
«Bloom is currently completing an internal round from existing investors of '200 crore,» said Tom Welbury, a Bloom Hotels spokesperson.
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