The initiative is part of Oravel’s global premium hotel expansion
OYO’s parent Oravel Stays plans to open 100 SUNDAY Hotels globally by fiscal year 2026, up from 30 hotels across 10 countries since its launch in May 2023. Pictured is the Sunday Hotel Vadodara in Vadodara, Gujarat.
Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
SUNDAY Hotels Sets Sights on 100 Global Properties
ORAVEL STAYS, OYO'S parent company, plans to expand its premium brand, SUNDAY Hotels, to 100 properties globally by fiscal year 2026, according to a PTI report. The four- and five-star brand, launched in May 2023 as a SoftBank-Oravel Stays joint venture, has expanded to 10 countries with 30 hotels.
The brand is present in India, the UK, Saudi Arabia, the UAE, Bahrain, Indonesia, Malaysia, Thailand, the Philippines and Vietnam.
The initiative is part of Oravel’s strategy to grow its premium hotel footprint globally, PTI reported, citing a spokesperson. "There are 30 SUNDAY Collection hotels already open across 10 countries, including India, and the company plans to ramp up expansion in FY26, targeting 100 hotels," the spokesperson said.
Sunday Hotels debuted in India in Jaipur, Rajasthan, followed by expansions into key business and leisure destinations, including Vadodara, Gujarat, Chandigarh, Punjab, and Gurugram, Haryana. Currently, Oravel Stays operates 13 SUNDAY Hotels across India. Initially focused on non-metro cities, it now plans to expand into metro areas.
SUNDAY Hotels' global expansion began last August with SUNDAY Holiday International Hotel in Dubai, followed by SUNDAY Lansbury Heritage Hotel in the UK. "The rapid expansion of SUNDAY Hotels across key markets has been driven by strong consumer demand and strategic partnerships," the spokesperson told PTI.
SoftBank is Oyo’s largest shareholder with a 46.62 percent stake, while founder Ritesh Agarwal owns 33.15 percent.
In February, OYO announced a $62 million, three-year investment to expand its premium UK portfolio, adding 1,000 jobs through acquisitions and long-term leases.
Oravel Stays completed its $525 million acquisition of G6 Hospitality from Blackstone Real Estate in December. G6 Hospitality also launched a franchisee engagement initiative earlier this year and plans to host over 15 regional meetings nationwide by year-end.
Founded in India in 2012 by Agarwal, Oyo expanded domestically before entering Europe, the U.S., and the Americas in 2019.
Trump’s 50 percent tariff on Indian goods took effect on Aug. 27.
Hospitality businesses in both countries could be hit.
U.S. treasury secretary calls the India-U.S. relationship “very complicated” but expects resolution.
PRESIDENT DONALD TRUMP’S 50 percent tariff on Indian goods took effect Wednesday, while Prime Minister Narendra Modi urged citizens to follow the “Vocal for Local” policy and Swadeshi mantra in his Aug. 15 Independence Day address. Beyond exports such as textiles, the U.S. measure is likely to affect travel, tourism and hospitality in both countries.
The Global Trade Research Initiative told the Financial Times that Indian exports to the U.S. could fall from $86.5 billion this year to about $50 billion in 2026. Textiles, gems, jewelry, shrimp and carpets are expected to be most affected, with exports in these sectors projected to drop 70 percent, “endangering hundreds of thousands of jobs.”
Meanwhile, India also began outreach programs in 40 markets, including the UK, Japan and South Korea, to increase textile exports, Economic Times reported. Officials said 40 select markets, including the UK, Japan, South Korea, Germany, France and Australia, “hold the real key to diversification.” These countries import more than $590 billion in textiles and apparel annually, while India’s current share is around 5 to 6 percent.
‘Trade embargo’
The duties, 16 percentage points higher than China, 31 points higher than most Southeast Asian countries and 35 points above South Korea, have raised U.S. tariffs on Indian goods to levels Nomura described as a “trade embargo,” the Guardian reported.
However, the U.S. hotel associations, including the AAHOA and the American Hotel & Lodging Association, have not commented, though the tariffs raise costs for imported furniture, textiles and kitchen supplies. Higher costs may also increase guest prices, delay renovations and reduce profitability.
The tariff increase may also affect U.S. companies operating in India, including Hilton Hotels & Resorts, Marriott International, Wyndham Hotels & Resorts and Choice Hotels International, all of which have announced expansion plans. Tesla recently opened an outlet in Mumbai.
‘Vocal for Local’
Prime Minister Narendra Modi urged traders and shopkeepers to follow the “Vocal for Local” mantra and buy Indian products, saying this will keep money within India, The Hindu reported.
“Have faith in Indian goods. If you are Indian, buy only goods made in India. Choose items made in India, by Indians,” he said at an event in Delhi. “I want to appeal to my fellow traders and shopkeepers: support me in following the mantra of ‘Vocal for Local’. This will benefit the country and the money spent on the goods you sell will stay within India.”
Modi also highlighted India’s progress in manufacturing, saying 11 years ago the country imported most phones.
“Today, the majority of Indians use Made in India phones,” he said. “Each year we produce 30–35 crore mobile phones and we are also exporting them.”
On Independence Day, Modi emphasised self-reliance under Atmanirbhar Bharat across defence and energy, with initiatives in solar, hydrogen and nuclear power. He announced a Reform Task Force to boost economic growth, reduce red tape, modernise governance and prepare India for a $10 trillion economy by 2047.
Howdy Modi backfires
Congress MP Manickam Tagore criticised Modi over the “Howdy Modi” event, saying India has suffered export losses after the U.S. imposed the double tariff.
“Modiji, remember your slogan ‘Abki Baar, Trump Sarkar’?” he wrote on X. “Today, that ‘friendship’ has cost India Rs 2.17 lakh crore in export losses as the U.S. imposes a 50 percent tariff. Your PR politics = India’s economic disaster.”
Tagore said farmers, MSMEs and exporters are bearing the brunt.
“Farmers, MSMEs and exporters are affected: textile exports from Tiruppur, Surat, and Noida face 5 lakh job losses; the gems and jewellery sector is losing 2 lakh jobs; 3 million livelihoods of Andhra Pradesh shrimp farmers are at risk,” he said. “All due to Modi’s failed diplomacy and slogans abroad.”
‘U.S.-India will unite’
U.S. Treasury Secretary Scott Bessent described the India-U.S. relationship as “very complicated” but expressed hope that “at the end of the day, we will come together.”
“President Trump and Prime Minister Modi have good relationships at that level,” he said in an interview with Fox Business. “And it’s not just over Russian oil. India is the world’s largest democracy, and the U.S. is the world’s largest economy. I think at the end of the day, we will come together.”
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The former Marriott executive received the Bharat Gaurav award.
The appointment follows the Accor-InterGlobe joint venture formed earlier this year.
Ranju Alex is Accor Ltd.’s new CEO for South Asia, which includes India, Bangladesh, Pakistan and Sri Lanka. She will lead the company’s business and growth strategy in the subcontinent.
Alex, who joined Marriott International in 2010, served as regional vice president for South Asia, overseeing 170 hotels. The appointment follows the formation of the Accor-InterGlobe joint venture earlier this year, led by Chairman Gaurav Bhushan, to open 300 Accor hotels in India by 2030.
“We are pleased to welcome Ranju to the Accor and InterGlobe family,” said Bhushan. “She brings deep experience, skills, and relationships to our business, and we look forward to building a leading hospitality platform in the region under her leadership.”
Alex began her career with The Oberoi Group in 1993 and held leadership roles at Marriott for more than three decades. She received the Bharat Gaurav award for her contributions to the industry.
“I am delighted to be joining Accor, a company with a comprehensive portfolio of brands in the region,” she said. “It is an honor to take on this role and deliver the Group’s vision in South Asia.”
Accor operates more than 70 hotels in the region and has more than 30 in the pipeline.
Meanwhile, the Accor/Interglobe JV is the exclusive growth platform for the brand’s portfolio in India, focusing on expansion and services for Indian travelers. InterGlobe, parent of IndiGo, is led by Group Managing Director Rahul Bhatia.
OYO reportedly plans to file its DRHP in November for a $7-8 billion IPO.
The company recently delayed its third IPO attempt due to market volatility.
It added more than 150 hotels to its U.S. portfolio in the first half of 2025.
OYO IS REPORTEDLY planning to file its Draft Red Herring Prospectus in November for an IPO targeting a $7 to 8 billion valuation. The company will present the proposal to its board next week.
Discussions with banking partners have increased in recent weeks, with valuation guidance at $7 to 8 billion (about ₹70 per share), or 25 to 30 times EBITDA, Press Trust of India reported citing sources.
"While we cannot comment on any timelines related to OYO's DRHP or IPO plans, as these will be guided by OYO's board of directors and remain at their discretion, OYO continues to evaluate a range of strategic options to drive value for its stakeholders," a company spokesperson told PTI.
In May, OYO delayed its third IPO attempt due to opposition from its largest shareholder, SoftBank, and market volatility.
“Over the past few months, SoftBank has engaged with banks such as Axis, Citi, Goldman Sachs, ICICI, JM Financial and Jefferies in London to assess market sentiment. After assessing market feedback, they are now confident in their decision,” one person aware of the developments was quoted as saying. “The board will be approached next week as the company firms up the details and finalises key strategic elements."
SoftBank remains one of OYO's largest shareholders. Insiders indicate the filing will showcase OYO's first-quarter financial performance, the report said. The hospitality industry also saw double-digit growth this quarter.
OYO is planning a new parent brand identity to unify its portfolio. Earlier this year, OYO CEO Ritesh Agarwal asked for name suggestions for Oravel Stays Ltd on social media. The chosen name may become the group's new name. OYO is also exploring a separate app for its premium and mid-to-premium company-serviced hotels, as the segment has grown across India and global markets.
Agarwal also chairs G6 Hospitality, parent of Motel 6 and Studio 6. Agarwal and G6 CEO Sonal Sinha previously spoke with Asian Hospitality on leadership and performance.
IHCL expands portfolio past 550 hotels by through acquisitions and partnerships.
Promoters of ANK, Pride and Brij come from the Clarks Hotels family.
ANK and Pride operates midscale hotels, Brij focuses on the boutique and experiential segment.
THE INDIAN HOTELS Co. Ltd acquired a controlling stake in ANK Hotels Pvt. Ltd and Pride Hospitality Pvt. Ltd and signed a distribution agreement with Brij Hospitality Pvt. Ltd. The deals expand IHCL’s portfolio to more than 550 hotels, increase its midscale presence to over 240 properties and add the Brij brand.
The promoters of ANK Hotels, Pride Hospitality and Brij Hospitality come from the Clarks Hotels family, IHCL said in a statement.
“India’s hospitality sector has witnessed sustained demand momentum over the last three fiscal years, reflective of the country’s growing economic prominence and rising discretionary spends,” said Puneet Chhatwal, IHCL’s managing director and CEO. “The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an under-served hospitality market, especially in the mid-market segment. Our partnership with ANK, Pride and Brij Hospitality is a multipronged approach addressing India’s heterogeneous market landscape and is in line with IHCL’s five-year road map ‘Accelerate 2030’ of unlocking India’s tourism potential.”
ANK Hotels and Pride Hospitality operate 135 midscale hotels across 110 locations under The Clarks Hotels & Resorts brand, the statement said. These will be integrated into IHCL’s portfolio, mainly under the Ginger brand. Brij Hospitality’s 19 properties will add to IHCL’s presence in the boutique and experiential segment.
“Furthering IHCL’s presence in the midscale segment with the transformation of Ginger, this partnership doubles our portfolio to over 240 hotels addressing the needs of the aspirational traveller,” Chhatwal said. “Expanding our brandscape, the strong brand equity of Brij Hotels in India’s cultural and historical centres extends our offering in the experiential boutique luxury segment. With their legacy and hospitality expertise, the key managerial personnel of ANK, Pride and Brij Hospitality will continue to oversee the running of the respective companies, providing business continuity and enabling future growth.”
The transaction supports IHCL’s asset-light strategy, with most new properties under management contracts or operating leases. It advances the company’s ‘Accelerate 2030’ goal of expanding India’s tourism potential and broadens its presence from midscale to boutique luxury.
Ankur Dalwani, IHCL’s executive vice president and chief financial officer, said the company will fund the investment through internal accruals, supported by strong cash flows.
“The primary investment will be used to unlock value in existing assets and fuel future growth opportunities,” he said.
Meanwhile, Tata Sons recently launched a hospitality platform to support IHCL, allowing it to operate group-owned hotels on a revenue-share model while remaining asset-light. The first project is a 195-room Ginger hotel under construction near Kolkata airport.
“Together with IHCL, we carry forward the shared vision of our respective founders, Jamsetji Tata and Babu Brijpal Das Ji, in shaping and propelling India’s tourism journey," said Anant Apurv Kumar and Udit Kumar, founders of Brij Hotels and promoters of Clarks Group. "IHCL’s legacy of showcasing Indian hospitality to the world resonates with our core objective at Brij Hotels – to immerse travellers in the spirit of India’s most storied destinations. Together, we will blend IHCL’s century-old tradition with our experiential approach, creating journeys that honour our shared heritage, nurture local communities and reveal India in its most significant form. We extend our gratitude to Vijay Thacker from Horwath HTL for helping facilitate this strategic alliance.”
“It is with great enthusiasm that we move forward to new vistas with India’s largest hotel group,” said Anoop Kumar, founder of ANK Hotels. “Our forefathers, who sowed the seeds of the hospitality sector in India in 1947, will be proud.”
IHCL and Ambuja Neotia Group recently announced plans to open 15 hotels across West Bengal, Sikkim and Himachal Pradesh over the next five years.
MHRIL targets 10,000 rooms by 2030, up from 5,700.
It is exploring new models to become more competitive.
It calls the goal “conservative” amid India’s post-COVID tourism boom.
MAHINDRA HOLIDAYS AND Resorts India Ltd., a subsidiary of Mahindra Group, is aiming to have 10,000 rooms by 2030. The company is expanding beyond vacation ownership into the travel and tourism sector, Anish Shah, Mahindra Group CEO and managing director, said in an interview with PTI Videos.
MHRIL, led by Managing Director and CEO Manoj Bhat, had 5,794 keys as of June 30, 2025, and plans to add about 1,000 rooms this fiscal as part of its target to increase its room count to 10,000 by the 2030 fiscal, according to PTI.
Shah said the target of 10,000 rooms by 2030 is "conservative" given the boom in domestic tourism after the COVID-19 pandemic.
"So my response to that is that you're right,” Shah told PTI. “It should be much more. It is a good target right now, as a business looks at various options to go beyond vacation ownership."
The company is exploring new models to become more competitive, moving beyond its Club Mahindra business.
"As those options are thought through, further developed and combined with 'here's what the model is going to be' that will then give us a better sense of how we can play this in a much bigger way,” Shah said. "Our goal is very clear, to be the number one leisure hospitality player in India and that is something that we have been able to show, as we've seen from all the feedback we get from customers who go to our resorts. The experience has always been fantastic, and that is one that we've been able to deliver for families in leisure destinations, and we want to do that on a much larger scale."
Asked why the group has stayed away from conventional hotels and restricted itself to Club Mahindra, Shah said.
"That has been the model of the past but the business is looking at various options now, and is exploring, what are models that make sense, and how can we expand beyond just vacation ownership that we are doing (now)," he said.