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By Author
Published on January 17, 2025
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.
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.
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.
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.
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By Hariharan U
Published on November 2, 2026
EkoStay has entered the second-home real estate segment with the launch of Eko Estates, a new vertical offering freehold villas in the Western Ghats, combining property ownership with professionally managed holiday rentals. Its first portfolio comprises six villas in Kawnai, Igatpuri, with prices ranging from ₹2.75 crore to ₹4.80 crore.
The launch introduces two ownership and management arrangements: an Assured Agreement for buyers seeking contracted rental income and a Private Use option for those who prioritise personal access to their holiday homes.
EkoStay, which operates more than 175 villas and has eight years of experience in the holiday-home rental market, will build and manage the properties on behalf of owners. The company says the new vertical draws on its existing operating experience and the performance of properties it already manages in Igatpuri.
Under the Assured Agreement, Eko Estates offers owners a contracted rental yield of up to 10% per annum of the purchase price, with payments credited by the 10th of every month for 48 months. According to the company, payments are due irrespective of whether the villa is occupied or vacant, placing the occupancy risk on the operating company during the agreement period.
The rental rate is fixed at the time of signing and calculated against the purchase price rather than the property's assessed value. Owners under this arrangement retain 24 weekday nights annually for personal use.
EkoStay says the rental payments will be made by Ekostay LLP, the operating entity behind its existing managed portfolio, rather than an entity established exclusively for the new project.
The second option, Private Use, is intended for buyers who want unrestricted access to their property. It comes without a fixed rental commitment or lock-in period, allowing owners to use their villas throughout the year. Eko Estates can host guests and generate rental revenue through a revenue-sharing arrangement when owners are away. Buyers can also move to the Assured Agreement at a later stage.
The company states that the property title remains the same under both arrangements, with each villa registered as a freehold property in the buyer's name, including the underlying land.
The initial portfolio comprises six villas located in Kawnai, Igatpuri, at an elevation of approximately 600 metres above sea level. Two villas are ready for possession, while the remaining four are scheduled for handover between February and April 2027.
Each villa measures approximately 3,000–3,500 sq. ft. (confirm exact area if available) and comes with a private pool, staff quarters, water source and storage, power backup, covered parking, lawn, deck, air conditioning and Wi-Fi. The company says these features are included in the standard offering rather than being sold as optional upgrades.
Eko Estates states that the properties have clear freehold titles, with the 7/12 land records and non-agricultural (NA) orders available for inspection. It also says each project comprises fewer than eight units and falls within the exemption provisions cited under MahaRERA Order 25A/2023.
EkoStay says its existing operations in Igatpuri influenced the choice of location for the first Eko Estates portfolio. The company points to the region's monsoon tourism demand, noting that August is among its peak booking months.
The villas have been planned around their natural surroundings, with design and construction considerations including drainage, waterproofing, ventilation and materials suited to the region's seasonal rainfall.
The location is approximately 150 kilometres from Mumbai, with a road journey of around three hours and 40 minutes via the Mumbai–Nashik highway and Kasara Ghat. Igatpuri railway station is around 20 minutes away, with the company arranging transfers for owners and guests.
The company also says non-resident Indians and Overseas Citizens of India can purchase the properties under the applicable general permissions for residential property, subject to eligibility and regulatory requirements.
Varun Arora, Co-Founder, EkoStay, said the company's experience managing holiday homes had informed its approach to the new offering.
"Your capital is almost certainly earning less than you think. We've run other people's holiday homes for eight years and we know what they actually earn, and what a Mumbai apartment or a commercial unit earns next to them. A rental that's contracted and lands on the 10th of every month, full house or empty house, is a different thing from a projection in a brochure. That certainty is what someone is buying. The villa is the thing it comes attached to."
Husain Khatumdi, Co-Founder, EkoStay, said the first villas in the portfolio had originally been developed for hospitality operations and had been hosting guests for more than a year.
"The first villas in this portfolio were built to be run, not to be sold, and they've been hosting EkoStay guests for over a year. Every house here starts from its plot: where the light falls, where the hills sit, how the rain moves across the land. The rooms open to the view and the pools face the valley. We're putting our name on the construction because we're the ones who'll be living with it, every weekend, for the next four years."
Sohail Mirchandani, COO and Co-Founder, EkoStay, highlighted documentation and property-title clarity as important considerations in the second-home market.
"Most of what goes wrong with a house in the Ghats is paperwork. Agricultural land sold as if it were buildable, a title that doesn't survive a bank's checklist, a return that was never more than a projection. We've removed all of it. Clear and marketable freehold title, the NA order in hand, the 7/12 extract on the table before anyone asks, and a rental paid by the same entity that runs 175 villas. If a buyer's lawyer wants a week with our documents, that's exactly what we'd want."
Zishan Khan, Co-Founder, EkoStay, said the two arrangements were developed to address different buyer priorities.
"Buyers at this level split cleanly into two groups, and forcing them into one product loses half of them. Some want income, some want weekends. So we run two options, and the second one still lets the house earn. You own the villa outright either way. The only thing that changes is who runs the house, and how it earns while you're not in it."
Site visits to the Eko Estates portfolio in Igatpuri are now open. The company is arranging pickups from Igatpuri railway station for prospective buyers and guests.
Further details are available at www.ekoestates.com.
Eko Estates is the second-home development vertical of EkoStay, building freehold villas in Igatpuri, including Kawnai and Vihigaon, and managing them on behalf of owners. Its offerings include the Assured Agreement, with a contracted rental arrangement, and Private Use, which allows unrestricted personal access with revenue-sharing rentals when owners are away.
EkoStay is an Indian homestay and villa rental brand with more than 175 villas under management and eight years of operating experience across weekend getaway destinations. The company was founded by Varun Arora, Husain Khatumdi, Sohail Mirchandani and Zishan Khan. More information is available at www.ekostay.com.
Burger King India has reported its first-ever positive quarterly profit after tax (PAT) of ₹15.6 crore in Q2 FY27, marking a significant financial milestone for Restaurant Brands Asia (RBA). The performance was supported by 14% same-store sales growth, higher revenue and improved restaurant-level profitability.
The India business recorded standalone revenue of ₹705.6 crore, registering a 24.1% year-on-year increase during the quarter. Restaurant EBITDA grew 53.7% to ₹91 crore, with margins improving to 12.9% from 10.4% in the corresponding period last year.
At the company level, EBITDA before the impact of Ind AS 116 increased 94.1% year-on-year to ₹55.1 crore, with margins expanding from 5% to 7.8%.
The results reflect stronger sales performance across existing restaurants alongside continued network expansion. Burger King India added 17 restaurants during the quarter, taking its total network to 607 outlets.
At the consolidated level, Restaurant Brands Asia reported revenue of ₹844.8 crore, registering 20.1% year-on-year growth. Consolidated EBITDA before Ind AS 116 increased 280.7% to ₹43.2 crore.
The company's overall restaurant network reached 766 outlets, reflecting its continued expansion across markets.
The results also point to a revival in Burger King Indonesia, with the group attributing the improvement to its strategic initiatives. However, the India business remained a key contributor to the quarter's performance, supported by strong same-store sales growth and improving operating margins.
Alongside the financial announcement, Restaurant Brands Asia confirmed that Sumit Zaveri will lead Burger King India's business, reporting to Rajeev Varman, Whole-time Director and Group Chief Executive Officer.
The leadership update comes as the company focuses on sustaining sales growth, improving cost efficiencies and expanding its restaurant footprint.
Commenting on the results, Madhusudan Agrawal, Chairman of Restaurant Brands Asia, said, "I am extremely pleased with these outstanding results. I am confident that our Group Chief Executive Officer will lead the Company to even greater heights."
Rajeev Varman, Whole-time Director and Group CEO of Restaurant Brands Asia, said, "Q2 FY27 has been another robust quarter for Burger King India. SSSG of 14% coupled with network expansion drove strong revenue growth and profitability enhancement. Burger King Indonesia is witnessing revival on the back of our strategic initiatives. I am also pleased to share that Sumit Zaveri will be leading our India business, continuing to report to me. Going forward, our priorities remain firmly centered on sales growth, cost efficiencies and growing our restaurant footprint."
Burger King India's first positive quarterly PAT marks an important development in its financial performance. The combination of double-digit same-store sales growth, higher restaurant EBITDA and improved margins indicates progress in strengthening the operating performance of its existing network.
The next phase will depend on whether the company can sustain this momentum while continuing to add restaurants and manage operating costs. With 607 Burger King outlets in India and 766 restaurants across the wider RBA network, maintaining profitability alongside expansion will remain central to its growth strategy.
By Manu Vardhan Kannan
Amã Stays & Trails, the premium homestay brand from Indian Hotels Company (IHCL), has opened its 200th bungalow with the launch of Villa Maya in Alibaug, Maharashtra. The private retreat combines contemporary design, spacious interiors and nature-inspired surroundings, adding another property to the brand's growing portfolio of leisure stays across India.
Commenting on the milestone, Deepika Rao, Executive Vice President, Select Service Business, IHCL, said, “Private stays have emerged as an important segment within India's leisure travel landscape, driven by changing guest preferences and a growing demand for more personalized getaways. amã Stays & Trails addresses this opportunity through a collection of bungalows that celebrate the individuality of each location. As the brand opens its 200th bungalow, it reflects the scale and diversity of its footprint across the country. Villa Maya's addition to the portfolio reinforces our commitment to offering guests unhurried stay experiences in sought-after leisure destinations.”
A Private Retreat Surrounded by Nature
Set within expansive landscaped grounds, Villa Maya is a four-bedroom bungalow designed for families and groups seeking a private getaway. Large windows allow natural light into the interiors, while wooden accents add warmth to the living spaces.
The property features a private swimming pool for leisurely afternoons and a poolside gazebo that offers a relaxed setting for conversations and gatherings. Its dining experience includes a curated multi-cuisine selection, complemented by a traditional Maharashtrian thali.
Personalised Experiences for Leisure Stays
Villa Maya offers a range of experiences designed around relaxation, dining and spending time together. Guests can enjoy picnics on the property's green lawns, barbecue evenings under the open sky and candlelit dinners arranged for special occasions.
The opening marks a milestone for Amã Stays & Trails as demand for private accommodation and personalised leisure experiences continues to shape India's travel landscape. With Villa Maya, the brand adds another destination for travellers seeking spacious accommodation, flexible dining experiences and a slower pace of travel in Alibaug.
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