- Indian hotel aggregator
FabHotels is raising ₹540 million fromGoldman Sachs , according to the filings sourced by paper.vc. - FabHotels was launched by Adarsh Manpuria in 2014, just a year after OYO.
- The hotel chain falls in budget hotel range.
The hospitality chain which mainly works on a franchisee model, has its presence in over 40 Indian cities with more than 500
"There appears to be a renewed interest in this sector and we believe that's a good thing. Oyo is over-capitalized for India and appears to be, for all practical purposes, focussed on China,” said paper.vc founder Vivek Durai.
FabHotels was launched by Adarsh Manpuria in 2014, just a year after OYO had come into being.
The funding comes at the right time as according to $4, FabHotels was looking to expand its reach and double its inventory to 20,000 rooms, by 2019.
The hotel chain last raised a funding of $25 million in Series B round led by Goldman Sachs, and also saw participation from its existing investors Accel Partners. There were also reports that Treebo Hotels and FabHotels were holding early talks regarding a merger.
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