OYO’s Innov8 Sells 3% Stake at ₹1,000 Cr Valuation to Fuel Co-working Expansion

OYO’s Innov8 Sells 3% Stake at ₹1,000 Cr Valuation to Fuel Co-working Expansion

By Nishang Narayan

Published on June 21, 2025

OYO-owned Innov8 has raised new capital by selling a 3% stake at a valuation of ₹1,000 crore, marking another big move in India's fast-evolving co-working sector. The investment aims to fuel Innov8’s aggressive expansion plans, with the company targeting 100 centres across India by the end of 2025.

Among the new investors, Raymond Family Office emerged as the lead, acquiring close to 2% of the stake, sources said. The identity of other investors remains undisclosed, and OYO Group declined to comment on the development.

Founded in 2015 by Ritesh Malik, Innov8 currently operates over 30 centres in 10 cities, including Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Noida, Ahmedabad, Hyderabad, and Indore. The brand has consistently seen over 90% occupancy, underscoring the growing demand for flexible, managed workspaces post-pandemic.

This investment comes on the heels of January 2025’s ₹110 crore round, where Innov8 diluted 10% equity to onboard a high-profile mix of investors including Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia.

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The company’s financial performance has also seen a sharp upswing, with profit after tax jumping from ₹2.5 crore in FY23 to ₹62 crore in FY24. Experts attribute this to the surge in demand for hybrid and asset-light office models, particularly from startups and mid-sized corporates.

According to real estate consultancy Vestian, co-working operators in India are projected to occupy more than 100 million sq. ft. by 2026. This positions Innov8 as a key player in the race for market share.

Innov8 operates under the umbrella of OYO Group, which manages over 1.5 lakh hotel and home storefronts in 35+ countries, including the US, UK, Europe, and Southeast Asia. The group offers a suite of tech-driven hospitality and workspace solutions, with co-working becoming a major vertical in its diversified portfolio.

With strong financial backing and a profitable track record, Innov8 is now poised to scale up rapidly—meeting the workspace needs of India’s new-age workforce and reshaping commercial real estate norms in the process.


Novotel Mumbai Juhu Beach Marks World Ocean Day 2026 with Sustainability Initiatives

Novotel Mumbai Juhu Beach Marks World Ocean Day 2026 with Sustainability Initiatives

By Manu Vardhan Kannan

Published on June 6, 2026

Novotel Mumbai Juhu Beach reaffirmed its commitment to sustainability and environmental responsibility as part of World Ocean Day 2026 and Accor’s Save Ocean campaign, which is now in its third year since its launch in 2024. Through a series of initiatives focused on marine conservation, waste reduction and community engagement, the hotel continues to strengthen its efforts towards responsible hospitality.

Observed annually on 8 June, World Ocean Day highlights the importance of protecting oceans and marine ecosystems from pollution and environmental degradation. In line with this vision, Novotel Mumbai Juhu Beach has integrated sustainable practices across its operations while encouraging greater awareness around environmental conservation.

As part of the campaign, the hotel organised a beach clean-up drive at Juhu Beach on 3 June, 2026, in collaboration with Funsmart Knowledge Solution Foundation. The initiative brought together hotel associates and volunteers to help clean the coastline while spreading awareness about marine pollution, waste segregation and environmental responsibility. The activity reflected the belief that safeguarding oceans requires the collective efforts of businesses, communities and individuals.

The hotel has also introduced several measures to reduce its environmental impact. One of the key initiatives includes the installation of an in-house bottling plant, helping minimise the use of single-use plastic bottles and supporting a more sustainable operating model.

Further strengthening its waste management efforts, Novotel Mumbai Juhu Beach has installed waste segregation bins at key locations across the property. The initiative encourages guests, visitors and associates to actively participate in responsible waste disposal practices. The hotel has also incorporated sustainably sourced personal care kits as part of its guest amenities, aligning with its commitment to conscious consumption and environmentally responsible operations.

The property believes that such initiatives can inspire neighbouring communities to adopt sustainable habits and contribute towards a cleaner environment. By promoting responsible waste management and encouraging collective accountability, the hotel aims to create a positive and lasting impact for future generations.

Speaking about the initiative, Kunal Shanker, General Manager, Novotel Mumbai Juhu Beach, said, "At Novotel Mumbai Juhu Beach, sustainability is not viewed as a standalone initiative but as an integral part of how we operate every day. As we mark the third year of Accor's Save Ocean campaign, we remain committed to reducing our environmental footprint through responsible practices, conscious resource management, and community engagement. The beach clean-up drive served as a meaningful reminder that even small collective actions can contribute towards preserving our coastlines and marine ecosystems for future generations."

Manav Sony, Founder, Funsmart Knowledge Solution Foundation, said, "Environmental conservation requires long-term commitment and collaboration. We were pleased to partner with Novotel Mumbai Juhu Beach on this initiative, which not only helped create awareness around marine pollution but also encouraged community participation in protecting our natural ecosystems. Such efforts play an important role in fostering sustainable habits and driving positive environmental impact."

Through these initiatives, Novotel Mumbai Juhu Beach continues to support Accor’s broader sustainability goals while encouraging responsible practices that contribute to the protection of oceans and the environment.


ITC Maurya Celebrates World Environment Day with Sustainability-Led Experiences

ITC Maurya Celebrates World Environment Day with Sustainability-Led Experiences

By Hariharan U

Published on June 6, 2026

ITC Maurya New Delhi marked World Environment Day 2026 with a series of sustainability-led initiatives that reinforce its long-standing commitment to Responsible Luxury and environmental stewardship.

The hotel, known for hosting one of the world’s first paraboloid solar concentrators in the hospitality sector, continues to integrate innovative technologies and mindful operational practices aimed at reducing environmental impact while maintaining a high standard of luxury hospitality.

Recognised as the world’s first LEED Platinum hotel for Existing Buildings and a LEED Zero Water certified property, ITC Maurya has adopted a comprehensive sustainability framework. Its initiatives include rainwater harvesting systems, advanced water recycling infrastructure, renewable energy integration, EV charging facilities, and efficient operational practices designed to minimise resource consumption.

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A key element of its sustainability approach is SunyaAqua, the hotel’s zero-mile water initiative. Through this programme, drinking water is purified and bottled on-site, reducing transportation emissions and eliminating dependence on single-use plastic packaging. The initiative reflects ITC Maurya’s broader effort to integrate environmental responsibility into everyday guest experiences.

The hotel also continues to promote responsible culinary practices, with a strong emphasis on locally sourced produce and seasonal ingredients across its dining venues, supporting regional communities while reducing its carbon footprint.

As part of its World Environment Day activities, employees participated in a plantation drive in the vicinity of the hotel on June 5, contributing to urban greening efforts and encouraging collective environmental responsibility.

Adding a creative dimension to the celebrations, the hotel unveiled a curated lobby installation titled “Paludarium: Where Land Meets Water.” The installation brings together land, water, plants, and aquatic elements to represent the delicate balance of ecosystems, inviting guests to reflect on the interconnectedness of nature and human activity.

Speaking on the occasion, Amaan Kidwai, Area Manager Luxury Hotels (North) & General Manager, ITC Maurya, highlighted the integration of sustainability into the guest experience.

At ITC Maurya, sustainability finds expression as an intuitive dimension of everyday luxury, where even the simplest guest experiences contribute to a larger climate-conscious vision. Guided by ITC Hotels’ Responsible Luxury philosophy, our approach centres on seamlessly integrating mindful choices into the guest journey, ensuring that responsibility and refinement exist in perfect harmony,” he said.

Through these initiatives, ITC Maurya continues to demonstrate how environmental consciousness can be seamlessly embedded into luxury hospitality, creating experiences that are thoughtful, responsible, and meaningful.


Eros Hotel New Delhi Marks World Environment Day with Plantation Drive

Eros Hotel New Delhi Marks World Environment Day with Plantation Drive

By Manu Vardhan Kannan

Published on June 6, 2026

Eros Hotel New Delhi celebrated World Environment Day with a plantation drive organised in association with Magic Bus India Foundation at the hotel premises. The initiative brought together children from the NGO along with members of the Child Welfare Committee (CWC), creating an opportunity to spread awareness about sustainability and environmental conservation.

Held on the morning of World Environment Day, the activity encouraged children to take part in planting saplings while learning about the importance of protecting nature. The initiative focused on inspiring young minds to understand how collective efforts can help create a greener, healthier and more sustainable future.

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The plantation drive reflected Eros Hotel New Delhi’s continued commitment to responsible hospitality and community-focused initiatives. Through its association with organisations such as Magic Bus India Foundation, the hotel aims to support programmes that contribute positively to both society and the environment.

Speaking on the occasion, Davinder Juj, General Manager, Eros Hotel New Delhi said, “At Eros Hotel New Delhi, sustainability is not just a value; it is a way of life. As a responsible entity, our commitment to environment-friendly practices is underscored by our unique focus on the three R—Reduce, Recycle and Reuse. By adopting these practices, such as efficient electricity management, water recycling initiatives, and reusing valuable resources wherever possible, we try to minimize environmental impact while promoting greater operational efficiency and sustainability.”

The event concluded with an interactive session involving the children and CWC members, reinforcing the importance of sustainable living and the role communities can play in building a greener tomorrow. The initiative highlighted how awareness, participation and small actions can contribute meaningfully towards environmental preservation.

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