OYO Assets to Acquire 12 Hotels in Six Months

New Delhi, Oct 15 (PTI) OYO parent PRISM-backed OYO Assets, on Wednesday, said it plans to acquire 12 hotels in the second half of this financial year to scale its portfolio of premium and mid-premium hospitality assets.

OYO Assets, also known as Sunday PropTech, said that out of the 12 targeted acquisitions, seven hotels are in advanced stages of acquisition.

"The portfolio of acquisition will be funded through a mix of debt and equity, leveraging the company's strong balance sheet and investor support from an InCred and Analah-led consortium, along with PRISM Life and its shareholders such as SoftBank," OYO said.

Saurav Agarwal, Board Member, Sunday PropTech, said its focus is on properties in good locations with strong return potential.


"The need for high-quality premium and mid-premium hotels, coupled with a growing interest in travel, has been increasing significantly, and we see compelling opportunities to deploy capital in this space," Agarwal added.

Beyond its immediate expansion plans, OYO Assets will evaluate acquisitions in the mid-scale and premium brand segments where PRISM has a strong operational footprint, OYO said.

These hotels will be operated under PRISM's brands, including Sunday Hotels, Palette Hotels, Townhouse, and others.

PRISM's company-serviced hotel portfolio in India spans over 1,300 hotels.