By Tricity News
Chandigarh
19th April:- Bloom Hotels
(“Bloom”) is swiftly moving ahead with its expansion plans after a primary
capital injection of Rs 100 crores by Samena Capital in the company’s Series B
investment round. The investment values Bloom at 330 crores and will help roll
out the company’s innovative affordable brands to all Indian cities. With this
investment Samena Capital has taken a 35% stake in Bloom Hotels.
After pioneering its
unique hotel concepts across key India markets like Bengaluru, New Delhi,
Gurgaon and Goa, Bloom has recently picked up the pace of expansion in pursuit
of its aim to set up 100 hotels across South Asia. The expansion coincides with
India becoming the world’s third-largest airline market. Demand growth is also
being driven by the emerging middle income group and growing discretionary
consumption.
Commenting on the
investment, Shirish Saraf, Founder and Vice-Chairman of Samena Capital said
that we are delighted to partner with Bloom, a truly differentiated company
that can bring transformational change to the industry. Bloom has proven its
unique business model by achieving operational profitability across its current
portfolio in a very short period of time.
Sanjeev Sethi, COO of
Bloom, said that we are proud to have Samena on board as we grow the Bloom
brand across South Asia in quick time. We look forward to benefiting from the
Samena team’s proven track record in working with consumer facing companies at
the high growth stage.
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