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.


Appu Hotels Signs 20-Year Agreement with Marriott for Le Méridien Chennai & Coimbatore

Appu Hotels Signs 20-Year Agreement with Marriott for Le Méridien Chennai & Coimbatore

By Hariharan U

Published on December 4, 2025

Appu Hotels Ltd. has announced a major milestone with the signing of a long-term 20-year agreement with Marriott International for its flagship properties, Le Royal Méridien Chennai and Le Méridien Coimbatore. The renewed partnership reinforces Marriott’s commitment to both hotels and sets a strong, stable future for the brand in Tamil Nadu.

The agreement was signed by Mr. Avneet Singh Bhutani, Vice President – Asset Management, AP & EC, Marriott International, and Dr. Palani G. Periasamy, Chairman of Appu Hotels Ltd. The ceremony took place at Le Royal Méridien Chennai and included media interaction, a champagne toast, and a reaffirmation of Marriott’s global standards across both properties.

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Strategically located between the airport and the city’s business hubs, Le Royal Méridien Chennai features 240 rooms, multiple restaurants and bars, a large banquet area for up to 1,500 guests, an outdoor pool, and a range of modern facilities.

Under the new agreement, the hotel will move into its next phase of upgrades. Planned enhancements include refreshed guest rooms, improved public areas, updated banquet spaces, and elevated service touchpoints to match Marriott’s latest global benchmarks.Le Méridien Coimbatore, A Premium Five-Star Favourite

Situated in Neelambur, Le Méridien Coimbatore offers 254 rooms and suites, contemporary interiors, multiple dining options, a spa, outdoor pool, fitness centre, and business/event facilities.

The hotel already meets Marriott’s updated global standards and continues to be a top choice among travellers. Its strong guest reviews for comfort, service, and convenience make it a preferred stay near Coimbatore Airport and key business districts. The new agreement ensures consistency and long-term stability for the property.

A United Vision for Tamilnadu: The 20-year deal signals a clear long-term strategy for both hotels. Guests can expect reliable service, upgraded amenities, and a consistent international experience across Chennai and Coimbatore. Together, the properties strengthen Appu Hotels’ position as a leading player in Tamil Nadu’s luxury hospitality landscape — catering to business travellers, leisure guests, weddings, and large-scale events.

Quotes from Leadership, Dr. Palani G. Periasamy, Chairman, Appu Hotels Ltd., said, “This 20-year agreement with Marriott International reaffirms our faith in the global standards of hospitality. With Le Méridien Coimbatore already operating as a premium facility and Le Royal Méridien Chennai entering its next phase of upgrades, we are committed to offering world-class experiences while honouring our legacy in Tamil Nadu’s hotel industry.”

Avneet Singh Bhutani, Vice President – Asset Management, AP & EC, Marriott International, added, “Our continued partnership reflects Marriott’s confidence in the vision and legacy of Appu Hotels. We look forward to delivering consistent, high-quality hospitality across both Le Méridien properties in Chennai and Coimbatore, enhancing guest experiences, and strengthening Marriott’s footprint in South India.”

About the Properties

Le Royal Méridien Chennai and Le Méridien Coimbatore, owned by Appu Hotels Ltd., operate under Marriott International’s Le Méridien brand. Both hotels blend international hospitality with regional warmth, offering luxury stays, modern amenities, business and event facilities, and dependable guest service.


South Palms Resort & Spa Panglao – MGallery Collection Elevates Guest Experience with Alcatel-Lucent Enterprise

South Palms Resort & Spa Panglao – MGallery Collection Elevates Guest Experience with Alcatel-Lucent Enterprise

By Hariharan U

Published on December 3, 2025

South Palms Resort & Spa Panglao – MGallery Collection has taken a major step toward elevating guest experiences by choosing Alcatel-Lucent Enterprise to power its digital backbone. The resort, which spans 6 hectares of pristine beachfront in Panglao and features 188 rooms and suites blending tropical charm with modern style, needed a reliable, scalable and seamless technology setup to match its luxury standards.

To meet these needs, Alcatel-Lucent Enterprise delivered a complete turnkey solution built to support smooth guest services and efficient operations. The resort selected ALE for its ability to provide strong, high-speed connectivity throughout its varied spaces from indoor lounges and dining areas to beaches, gardens and pools. Working closely with the property owner, a local partner and technology consultant Pertlink, ALE helped shape a network design that is future-ready and easy to manage.

The solution includes the Alcatel-Lucent OmniSwitch® 6360 Stackable Gigabit Ethernet Switch, ALE’s Hospitality Hybrid Passive Optical LAN, and OmniAccess® Stellar Access Point WLAN products designed to handle both indoor and outdoor conditions. A unified management system brings everything together, allowing the resort to run its entire network and telephony infrastructure under a single brand.

With this setup, the resort now has secure, uninterrupted connectivity across guest areas and back-of-house operations. The digital foundation supports high data usage, strengthens operational efficiency and helps reduce long-term costs, contributing to the resort’s sustainability goals.

Sharing the impact of this collaboration, Dirk Dumortier, Director of Strategic Partnership, APAC, Alcatel-Lucent Enterprise, said, “To meet the scale and luxury demands of South Palms Panglao MGallery, we knew the solution had to be more than just technology, it had to be a unified ecosystem. Working closely with our trusted partner and the strategic guidance of consultant Pertlink, Alcatel-Lucent Enterprise delivered a future-ready, single-brand Hybrid POL/WLAN infrastructure that guarantees both a seamless guest experience and long-term TCO reduction. Partnership was the true foundation of this digital transformation.”

Terence Ronson, Founder and Managing Director of Pertlink, added, “From the very start, the project's horizontal layout made it clear that HPOL was the optimal solution. After extensive due diligence, we identified ALE as the ideal technology partner — not only for their robust solutions but also for their exceptional pre- and post-sales support. Together with their delivery partner NERA, ALE demonstrated a seamless, professional approach throughout the entire process. Combined with ALE's Wi-Fi infrastructure, we've created an outstanding, connected guest experience.”

The collaboration between ALE, the resort team and Pertlink has laid a strong digital base for South Palms Panglao – MGallery Collection. The resort is now equipped to serve guests with reliable connectivity, personalised services and smooth operations designed to match the expectations of modern luxury travellers.


The Anam Unveils Warm and Elegant Festive Celebrations Across Cam Ranh and Mui Ne

The Anam Unveils Warm and Elegant Festive Celebrations Across Cam Ranh and Mui Ne

By Hariharan U

Published on December 3, 2025

The Anam is bringing the festive spirit alive at its two oceanfront resorts, The Anam Cam Ranh and The Anam Mui Ne with warm celebrations, thoughtful dining experiences and activities for every age group. Known for their blend of Indochine charm and modern comfort, both resorts invite guests to enjoy the season in settings that feel cosy, elegant and truly memorable.

Sharing the essence of the celebrations, The Anam Group’s group general manager Laurent Myter said, “Experience the magic of the holidays in one of our breathtaking settings, where twinkling lights blend seamlessly with tropical breezes. Whether reflecting on your most treasured Christmas memories or ushering in the New Year with grace and style, every moment with The Anam offers something special.”

The Anam Cam Ranh
With stunning beachfront views, The Anam Cam Ranh is offering a lineup filled with indulgent dining, lively celebrations and soothing spa treatments. Guests can enjoy the “Festive Afternoon Tea” at The Colonial Restaurant, featuring dainty bites, handcrafted desserts, scones and fresh fruits served with tea or coffee.

Saigon Bar is hosting the “Champagne & Caviar Soiree,” pairing fine caviar with crisp Champagne for those who enjoy a classic, refined evening. The lobby will glow with its annual Christmas tree lighting ceremony, complete with hot chocolate, gingerbread and mulled wine for a warm start to the festivities.

Christmas Eve brings together carols, cocktails and a choice between a grand 9-course Christmas Eve Feast at The Colonial Restaurant or a hearty Roasted Dinner Buffet at The Indochine Restaurant. Christmas Day continues the cheer with a festive breakfast featuring Eastern and Western favourites.

New Year’s Eve begins with the General Manager Cocktail on the Lobby Lawn, followed by two elegant dinner options — a 9-course New Year’s Eve Feast or a lavish buffet at The Indochine Restaurant. The night ends with a lively Countdown Party at the Beach Club, complete with music and fireworks by the ocean. Guests can welcome the New Year with a comforting breakfast spread on New Year’s Day.

For rejuvenation, The Anam Spa offers special festive discounts on 60-minute and 90-minute treatments. Families and children can enjoy a full schedule of activities, from coconut leaf toy making to kite-flying, movie screenings and more.

The Anam Mui Ne
At The Anam Mui Ne, celebrations begin with the annual Christmas tree lighting ceremony, accompanied by a choir singing timeless carols. Christmas Eve is extra special for children as Santa Claus makes an appearance at The Indochine Restaurant with gifts and festive cheer.

Guests can choose from a lavish Christmas Eve BBQ Buffet Dinner featuring roasted turkey, chilled seafood, live BBQ counters and free-flow beverages, or enjoy a curated four-course Christmas feast at Lang Viet with optional sparkling wine or Champagne.

Christmas morning at The Indochine Restaurant brings a cosy breakfast and a hot chocolate treat topped with torched marshmallows. Kids can join creative activities at the Kids’ Club, followed by a refined Christmas Brunch with a 3-course menu.

New Year’s Eve celebrations include two standout dining experiences — an elaborate buffet at The Indochine Restaurant or a four-course “Sea Breeze and Sparkle” dinner at Lang Viet. The night continues with a Countdown Party on the lawn, offering games, sparkling wine and plenty of festive fun. Guests can step into the New Year with a relaxed breakfast and brunch, with à la carte dining available through the day.

At the spa, two thoughtful “Christmas Songs” wellness packages offer soothing scrubs, wraps, meditation sessions and traditional therapies. More holiday wellness treatments, including Himalayan singing bowl experiences, are also available. Daily kids’ activities add extra excitement throughout the festive season, from gingerbread decoration to sand painting and kite-flying.

About The Anam Group
The Anam Group, known for its “Indochine Charm” and “Modern Luxury,” operates independently with a focus on design rooted in heritage and warm Vietnamese hospitality. After opening The Anam Cam Ranh in 2017, the group expanded with The Anam Mui Ne and Axi Plaza, continuing to blend traditional elegance with modern comfort.

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