Vikram Kamats Hospitality Limited Raises ₹28 Crore Equity to

Vikram Kamats Hospitality Limited Raises ₹28 Crore Equity to Accelerate Growth and Nationwide Expansion of VITS Hotels

By Author

Published on January 17, 2025

Vikram Kamats Hospitality Limited (VKHL), formerly known as Vidli Restaurants Limited, has successfully raised ₹28 crore through a preferential allotment. Known as a leader in the pure vegetarian South Indian premium dining segment and mid-market hotel industry, VKHL is set to further cement its presence with this latest funding initiative.

The total capital of ₹28 crore was secured from a mix of renowned investors, including:

Mrinalini Jaisinghani (part of the Polycab Group)
Nabs Vriddhii LLP (part of the Sattva Group)
The Golden Bird Fund, a notable foreign portfolio investor
Green Portfolio Fund Management

This strategic fundraising initiative is poised to accelerate the expansion of the VITS Hotels brand, a mid-market hotel chain renowned for providing exceptional service and a homely experience for travelers. With more than 25 properties across India, VITS Hotels has become synonymous with premium comfort hospitality, appealing to both leisure and business travelers.

Expanding the Horizons of Mid-Market Hospitality

Expressing his gratitude and excitement, Dr. Vikram Kamat, Managing Director of Vikram Kamats Hospitality Limited, stated:

“Since 2016, we have provided excellent returns to our investors despite market fluctuations by focusing on a profitable business and strategic expansion. This funding demonstrates the continued trust of marquee investors and family offices in us. We will pursue an asset-light growth strategy by adding new VITS Hotels and Kamats Restaurants across India.”

Founded in 2007 by Dr. Vikram Kamat, VKHL is the flagship company of the VITSKAMATS Group, a diversified hospitality chain listed on the Bombay Stock Exchange (BSE ID: KAMATS & BSE Code: 539659). While VKHL primarily focuses on the Kamats Restaurant and VITS Hotels business, its subsidiary, Vitizen Hotels Ltd., operates hotel properties under lease, franchise, and management models.

The Road Ahead

With this latest infusion of funds, VKHL is poised to unlock new opportunities and redefine mid-market hospitality in India. The company remains committed to quality, innovation, and customer satisfaction while emphasizing sustainable growth.

Dr. Kamat’s leadership has been instrumental in setting new benchmarks for the Indian hospitality industry, delivering memorable guest experiences, and driving operational excellence.

About Vikram Kamats Hospitality Limited

Established in 2007 by hospitality visionary Dr. Vikram Kamat, Vikram Kamats Hospitality Limited (VKHL) is the driving force behind the VITSKAMATS Group. VKHL’s portfolio includes the Kamats Restaurants and VITS Hotels chain, an expanding network of mid-market hotels and resorts across India. Known for blending comfort, quality service, and exceptional dining, VITS Hotels caters to both business and leisure travelers.

VKHL also holds a majority stake in Vitizen Hotels Ltd., which operates its hotel properties under lease, franchise, and management models. Focused on sustainable growth and innovation, the company aims to set new benchmarks in the Indian hospitality industry by ensuring every guest’s experience is both enriching and memorable.

With this successful fundraising, VKHL is poised to achieve significant growth, expanding its footprint across India and reinforcing its position as a leader in mid-market hospitality.

Cygnett Hotels Signs 90-Key Cozzet Grand Jagatpura in Jaipur

By Hariharan U

Published on November 5, 2026

Cygnett Hotels & Resorts has announced the signing of Cozzet Grand Jagatpura, a 90-key greenfield hotel in Jaipur, marking another step in the group's expansion across Rajasthan's hospitality market.

Scheduled to open in 2028, the upcoming property will be the group's fifth hotel in Jaipur. The development forms part of Cygnett's strategy to expand its presence in the premium economy hospitality segment through branded accommodation in emerging urban markets.

Located in Jagatpura, an expanding residential and commercial area of Jaipur, the hotel is expected to cater to business travellers, leisure guests and visitors travelling to the city for professional and personal engagements. The location's growing residential and commercial activity makes it part of Jaipur's evolving hospitality landscape.

Cozzet Grand Jagatpura: Facilities and Accommodation

The proposed hotel will feature 90 contemporary rooms, along with an all-day dining restaurant, bar and gymnasium. Operating under the Cozzet Grand brand, the property will focus on contemporary accommodation, essential amenities and efficient service at accessible price points.

Commenting on the signing, Sarbendra Sarkar, Founder and Managing Director, Cygnett Hotels & Resorts, said, "Jaipur continues to be an important hospitality market, supported by a strong mix of business, leisure and social travel demand. Within the city, emerging locations such as Jagatpura offer opportunities for well-positioned branded hotels as residential and commercial development expands. The signing of Cozzet Grand Jagatpura aligns with our strategy of strengthening our presence in high-potential urban markets through efficient, value-driven hospitality offerings."

Cozzet Brand Drives Expansion

The signing comes as Cygnett accelerates the expansion of Cozzet, its premium economy and micro-hospitality brand. Built around the philosophy of "Smart, Safe & Sensible," the brand combines contemporary design, essential amenities and consistent service standards for business, leisure and transit travellers.

Cygnett is pursuing an asset-light expansion strategy, targeting business centres, convention destinations, transit hubs and emerging urban markets. The company's plans are supported by the growing demand for organised accommodation across India's micro and mid-scale hospitality segments.

According to the company, India's micro and mid-scale hospitality market is projected to reach US$7.60 billion by 2031. Cozzet currently has a development pipeline of approximately 600 keys, with properties in development and pre-opening stages across Noida, Ayodhya, Amritsar, Jaipur and Arunachal Pradesh, among other destinations.

With Cozzet Grand Jagatpura, Cygnett adds another planned property to its Jaipur portfolio while continuing to expand its premium economy presence in India's emerging hospitality markets.

Suba Hotels Signs Two New Properties in Mumbai and Kerala

By Manu Vardhan Kannan

Published on November 3, 2026

Suba Hotels Ltd has expanded its portfolio with the signing of two new properties under the Choice Hotels portfolio. The additions include a Comfort Inn in Mumbai's Bandra Kurla Complex (BKC) and a sea-facing Clarion resort in Bekal, Kerala. According to a media release issued by the company, both contracts were signed by Mansur Mehta, Managing Director of Suba Hotels Ltd.

Commenting on the signings, Mansur Mehta said, "Our Choice Hotels portfolio has been gaining a lot of popularity and acceptance with both guests and owners. We are extremely happy with the response, and the entire team at Suba Hotels Ltd. will strive hard to ensure that the brands under the Suba umbrella receive more recognition and accolades from everyone."

Mubeen Mehta, CEO of Suba Hotels Ltd, said the company plans to open both properties in the last quarter of the current financial year. He noted that the hotels would cater to different market segments, with Comfort Inn targeting business travellers in Mumbai's BKC area and Clarion focusing primarily on leisure guests in Bekal. He congratulated the team on the achievement and added, "The company has been on an expansion spree following our successful IPO."

The upcoming Comfort Inn in BKC will have 46 rooms and is being developed by M/s. Triumph Developer Private Limited. Designed for business travellers, the property will feature modern facilities and amenities. Once operational, it will become Suba Hotels' sixth hotel in Mumbai.

The second property, under the Clarion brand, is being developed by M/s. Bekal Sea View Resort. The premium, sea-facing hotel in Bekal will have 48 rooms across different categories and cater to both business and leisure travellers. Planned facilities at the Clarion property include a spa, wellness centre, rooftop infinity pool and a well-equipped gymnasium, adding to its leisure and wellness offerings.

With these two signings, Suba Hotels Ltd continues to expand its presence across different hospitality segments, adding a business-focused hotel in Mumbai and a premium coastal resort in Kerala to its Choice Hotels portfolio.

Unify Foodworks Raises ₹5 Crore to Expand Moe's Casa Mexicana and Carvel

By Manu Vardhan Kannan

Published on November 3, 2026

Unify Foodworks, the exclusive pan-Indian master franchisee of Moe's Casa Mexicana and Carvel, has raised ₹5 crore in seed funding through compulsorily convertible debentures (CCDs). The funding will support the expansion of both American brands across the National Capital Region (NCR), where they made their India debut. The company has a long-term roadmap to establish more than 100 stores across India.

The funding round is backed by Atrium Ventures, Sail Thru Ventures, Arjun Vaidya and Abhishek Goyal. The investment will help Unify Foodworks strengthen its presence in NCR, build store density, improve consumer recall and refine its operating model before expanding into other markets.

Both Moe's Casa Mexicana and Carvel are owned by Roark Capital, whose portfolio also includes Subway, Baskin-Robbins and Dunkin'. Moe's Casa Mexicana is the international evolution of the US fast-casual chain Moe's Southwest Grill, with India serving as its first international market. Unify Foodworks also holds the master franchise for Moe's Southwest Grill, the larger-format restaurant concept within the portfolio.

Moe's Casa Mexicana offers signature burritos, bowls and tacos alongside India-focused creations such as Habanero Paneer. Carvel, an American ice cream brand founded in 1934 and widely credited with inventing soft serve, entered the Indian market in 2025 with its outlet at Connaught Place.

The expansion comes as India's food services market evolves alongside changing urban lifestyles, greater exposure to global cuisines and demand for convenient, consistent dining experiences. Unify Foodworks aims to bring established international brands to Indian consumers while adapting menus and formats to local preferences without losing their original identity.

Alongside its store expansion, the company is developing its operational infrastructure. Its approach includes integrated supply chain and logistics systems, standardised processes and digital standard operating procedure (SOP)-led training for store teams. NCR will serve as a testing ground for store economics, menu localisation and operational discipline before the company takes its learnings to other markets.

Commenting on the funding and expansion plans, Sumer Sethi, Founder and CEO of Unify Foodworks, said, "Travel has rewired the Indian palate. Someone who has had a burrito in Atlanta or a soft serve in New York comes home expecting that exact experience, not a local approximation of it. For this consumer, consistency is the indulgence. Global brands are engineered to deliver it, but only when the operator gets the foundations right. This round gives us the runway to build those foundations store by store, so every new opening is a proven model repeated, not an experiment. Just as valuable are backers who understand consumer brands and share our long view. Our ambition is to make Unify Foodworks the go-to platform for international F&B brands entering India, scaling names that own their category without diluting what made them iconic,"

For Unify Foodworks, the NCR expansion is about more than opening new outlets. The company aims to develop a repeatable operating model that can be expanded across India while maintaining the quality and experience associated with both brands.

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