Kotak Realty Fund invests over Rs 1,100 crore in The LaLiT's Bharat Hotels
Kotak Realty Fund, a property-focused private equity asset manager, has invested more than Rs 1,100 crore in hospitality company Bharat Hotels, the owner of The LaLiT brand that operates luxury hotels, resorts, and palaces across the country.
The fund has invested in Bharat Hotels through debt with a total tenure of five years and the company will be using the same to repay its existing lenders including public and private sector banks.
“The undersupply in luxury hospitality and rising demand particularly after the pandemic has improved the business confidence in this segment. This investment supports the debt refinancing and frees up the capital for growth,” Vikas Chimakurthy, CEO, Kotak Realty Fund, told ET.
Bharat Hotels has a portfolio of twelve luxury hotels, palaces & resorts and two mid-market segment hotels under The LaLiT Traveller brand offering 2,261 rooms across prime locations in markets such as Delhi, Udaipur, Mumbai, Bengaluru, Jaipur, Goa and Srinagar.
