Indian Hotels invested Rs 90 cr in these 2 companies

On November 22, 2023, Indian Hotels invested Rs 55 crore in the equity shares of Genness Hospitality Private Limited and Rs 35 crore in the equity shares of Qurio Hospitality Private Limited, by way of subscription to Rights Issues.

This investment is part of Indian Hotels’ strategy to expand its presence in the hospitality sector. Genness Hospitality Private Limited and Qurio Hospitality Private Limited are two subsidiaries of Indian Hotels, and the investment will help the company to strengthen its hold on these businesses.

Genness Hospitality Private Limited

Genness Hospitality Private Limited (Genness) was incorporated on February 1, 2022 for a greenfield project (Vivanta Hotel) in Ekta Nagar, Gujarat, which is presently under development. It had a turnover of ₹ 0.0062 Crores as on March 31, 2023.

Qurio Hospitality Private Limited

Qurio Hospitality Private Limited (Qurio) was incorporated on February 2, 2022 for a greenfield project (Ginger Hotel) in Ekta Nagar, Gujarat, which is presently under development. It had a turnover of ₹ 0.052 Crores as on March 31, 2023.

The investment is also expected to help Indian Hotels to improve its financial performance. The company has been struggling in recent years, and the investment in its subsidiaries is expected to generate additional revenue and profits.

Overall, the investment in Genness Hospitality Private Limited and Qurio Hospitality Private Limited is a positive development for Indian Hotels. The investment is expected to help the company to expand its presence in the hospitality sector, improve its financial performance, and strengthen its position in the market.

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