- IHCL, PRISM stand alone in 2026 Hurun India Real Estate 150.
- Hospitality was one of two sectors to record growth.
- PRISM’s valuation rose 107 percent, entering the top 10.
TATA GROUP-OWNED INDIAN Hotels Co. Ltd. and IPO-bound PRISM are the only hospitality companies in the 2026 GROHE-Hurun India Real Estate 150. PRISM's valuation more than doubled, rising 107 percent to about $7 billion.
Hospitality was one of only two sectors, along with retail, to record growth, according to the report. The sector has grown from a "footnote" a decade ago to the second-largest segment by company count after residential. The list includes 24 hospitality companies, up from 22 last year, with a combined valuation of about $29.7 billion.
"The split within the list is the real signal: segments tied to what Indians spend rose, while those tied to what developers borrow fell," said Anas Rahman, Hurun India founder and chief researcher. "Residential, which accounts for nearly half of the companies in the rankings, declined about 16 percent in value, while commercial real estate fell 14 percent. Retail grew 8 percent, and hospitality expanded to about $29.6 billion, driven by PRISM and the listing of ITC Hotels."
PRISM, parent of OYO and G6 Hospitality, was the second-largest gainer by absolute value, adding about $3.6 billion to reach about $7 billion. Its valuation rose 107 percent, moving up six places to rank fifth and enter the top 10.
PRISM is led by Founder and Group CEO Ritesh Agarwal, who also chairs G6 Hospitality, parent of Motel 6 and Studio 6 brands. Agarwal, 32, was the youngest leader in the rankings, while InterGlobe Hotels' Kapil Bhatia, 93, was the oldest.
IHCL ranked as the most valuable hospitality company at about $9.7 billion, followed by PRISM at about $7 billion. Demerged ITC Hotels debuted on the list at about $3.4 billion. PRISM also ranked as the second-most valuable unlisted real estate company in India after Adani Properties.
Only 31 of the 151 companies in the rankings recorded valuation growth during the year, the report said. Adani Properties and PRISM accounted for nearly two-thirds of the value created among existing companies.
The Lalit Chairperson Jyotsna Suri ranked among the top women leaders, while Apeejay Surrendra Park Hotels Chairperson Priya Paul ranked second, reflecting women's presence in India's hospitality industry.
PRISM filed its updated Draft Red Herring Prospectus-I with the Securities and Exchange Board of India. The IPO comprises a fresh issue of shares worth up to about $701 million, with no offer for sale by existing shareholders.
