Brigade Hotel Ventures to add five new hotels; ₹760-cr IPO opens July 24.

Brigade Hotel Ventures (BHVL) is set to significantly expand its hospitality footprint, with plans to add five new hotels to its portfolio, Managing Director Nirupa Shankar informed businessline. This expansion comes as the company prepares for its ₹760 crore initial public offering (IPO), which opens on July 24.

"We have five hotels where both land and brand are tied up," Shankar stated, outlining the immediate growth trajectory. She further revealed that BHVL has also signed agreements for three additional hotels with Marriott, where brands are finalized, and land acquisition formalities are currently underway. Another site has been acquired, with brand tie-up and key count details pending.

According to its Red Herring Prospectus (RHP), BHVL intends to develop a luxury beach resort in Chennai and two upper midscale hotels in Bengaluru. The RHP also indicates that ₹90 crore from the upcoming IPO proceeds will be allocated for an unidentified, opportunistic asset.

Shankar emphasized that the company's core strength lies in its integrated approach to hotel development and ownership. "When we develop from scratch, we can tailor the hotel to the micro market, banquet size, room mix, F&B outlets, working closely with the operator to get the product right," she explained, highlighting BHVL's commitment to creating bespoke and market-appropriate properties.