- PRISM begins investor roadshows for proposed IPO.
- Acquired businesses contribute 20 percent of EBITDA.
- U.S. business now contributes 52 percent of global GBV.
The company filed updated IPO papers with Securities and Exchange Board of India earlier this month. While the IPO spotlight has landed on PRISM's acquisition strategy, the numbers tell a more layered story, according to PTI.
PRISM is led by founder and group CEO Ritesh Agarwal, who also chairs G6 Hospitality, parent of Motel 6 and Studio 6.
The U.S. business has become the company's largest growth driver following the G6 acquisition, which brought the Motel 6 and Studio 6 brands into its portfolio. U.S. gross booking value reached $1.26 billion in the first nine months of fiscal year 2026, accounting for 52 percent of PRISM's global GBV.
G6, acquired in 2024 and Europe's OVH, acquired in 2019, together contribute only about 20 percent of PRISM's current EBITDA. Before the acquisitions, the two businesses generated about $63 million in EBITDA. Nearly 80 percent of PRISM's annualized fiscal year 2026 EBITDA came from improvements made after the acquisitions.
Industry experts said the acquisitions gave the company immediate scale in key international markets, but most of the profitability came after the deals closed. PRISM brought the businesses together under one system to improve operations.
PRISM also reported stronger financial results. Global GBV reached $2.4 billion in the nine months ended Dec. 31, 2025, while EBITDA and profit after tax rose to $223 million and $79 million, respectively, according to its draft IPO papers.
Zostel's latest petition against PRISM over the failed 2015 acquisition was disposed of by the Delhi High Court. The dispute stemmed from Zostel's claim that PRISM failed to complete the proposed acquisition, while PRISM said the term sheet was nonbinding.
