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.

Pride Hotels & Resorts Marks a Homecoming with Pride Plaza Indore

By Manu Vardhan Kannan

Published on August 23, 2026

Pride Hotels & Resorts has expanded its presence in Madhya Pradesh with the launch of Pride Plaza Indore, a 141-room upscale hotel on AB Bypass near Rau. The new property marks the group's second hotel in Indore and the first Pride Plaza brand entry into the city.

The launch also carries a personal meaning for the group, particularly for S.P. Jain, Chairman and Managing Director, Pride Hotels & Resorts, who hails from Sagar district in Madhya Pradesh. For the group, the opening represents both a business milestone and a homecoming.

"It gives us immense pleasure to launch our own hotel in the heart of India, Madhya Pradesh, in Indore. This property holds a special place for us, it is the 8th hotel owned by the group, and to have it here in Madhya Pradesh, the state I call home, makes this moment truly personal for me and for all of us at Pride Hotels,” said Jain.

Pride Plaza Indore features 141 well-appointed rooms, a swimming pool, six versatile event venues, three restaurants, a pool side lounge & bar and an expansive banquet space. The property has been planned to serve both business travellers and the city's growing wedding market, along with MICE events and social celebrations.

With the opening, Indore becomes the only city in Madhya Pradesh to have two Pride properties, with Pride Plaza Indore joining Pride Premier Indore. Along with the group's existing hotels in Bhopal, Ujjain and Jabalpur, the launch takes Pride Hotels' presence in Madhya Pradesh to five hotels.

Speaking about the group's growth strategy, Satyen Jain, CEO, Pride Hotels Limited, said, “As we move into an exciting new phase of expansion, one of our core strengths has been our strategically located and highly diversified portfolio of hotels and resorts across India. Our presence has been consciously built across key business and gateway markets, high-growth leisure destinations, and culturally significant pilgrimage hubs. This diversification has given us a balanced and resilient portfolio, with 67 percent of our keys in business markets, 18 percent in leisure cities, and 15 percent in pilgrimage destinations allowing us to capture year-round demand from corporate travellers, government business, weddings, MICE, domestic tourism, and social celebrations,”

The new property also reflects Pride Hotels' focus on creating hotels that connect with their destinations. Atul Upadhyay, Executive Director, Pride Hotels, said, "Pride Plaza Indore is a true reflection of our 5 Senses philosophy, bringing together the warmth of local hospitality with the sights, sounds, flavours and traditions of Madhya Pradesh. We are confident that under the leadership of Prantik Sengupta, general manager, Pride Plaza Indore, this property will carry the Pride brand forward and set new benchmarks for hospitality in the region."

With its location, event spaces and range of dining and leisure facilities, Pride Plaza Indore is positioned to serve Indore's business and social demand while strengthening Pride Hotels & Resorts' growing footprint across Madhya Pradesh.

Storii by ITC Hotels Expands Presence in Goa with Assagao Signing

By Manu Vardhan Kannan

Published on August 22, 2026

ITC Hotels Limited has expanded its presence in Goa with the signing of a management agreement for a 51-key hotel in Assagao, North Goa, under its growing Storii by ITC Hotels brand.

The upcoming Storii Assagao is being planned as a distinctive hospitality destination that draws inspiration from the character of the region. Its location will give guests easy access to Assagao’s culinary experiences, natural beauty, boutique retail offerings and some of Goa’s well-known beaches and attractions.

The hotel will feature well-appointed rooms and suites, along with an all-day dining restaurant and a selection of dining, social and recreational experiences. The signing further strengthens ITC Hotels' presence across Goa and supports its plans to grow in high-potential leisure destinations.

Commenting on the signing, Anil Chadha, Managing Director, ITC Hotels Limited, said, "Goa continues to be one of India's leading tourism markets and remains a key focus area for our leisure growth strategy. Assagao has emerged as an attractive micro-market, driven by its distinctive character, strong visitor appeal, and evolving travel preferences. Storii Assagao will seamlessly blend the essence of the locale with the brand's focus on personalized service and memorable guest experiences. We are delighted to partner with Ananda Hospitality Services Private Limited on this exciting project."

Purshottam Sharma and Dilip Sharma, Partners at M/s Ananda Hospitality Services Private Limited, said, "Assagao has steadily evolved into one of Goa's most sought-after hospitality destinations, attracting travellers looking for enjoyable and well-curated stays. We are pleased to collaborate with ITC Hotels and look forward to creating a hospitality offering that reflects the unique appeal of the region while delivering exceptional guest experiences."

The new signing adds to ITC Hotels' growing presence in North Goa, which continues to benefit from tourism demand, improving connectivity and the rising interest in experiential leisure travel.

With its tree-lined avenues, charming neighbourhoods, food scene and evolving hospitality market, Assagao has become an increasingly popular destination for travellers seeking a more relaxed Goa experience. Storii Assagao is expected to build on this appeal while adding another option for guests exploring North Goa.

Atmosphere Core Announces Hillora Eco Resort in Visakhapatnam with 180 Keys

By Manu Vardhan Kannan

Published on August 20, 2026

Atmosphere Core has announced its strategic partnership with A V N G Developers LLP to launch Atmosphere Hillora Eco Resort Visakhapatnam, strengthening the brand’s growing presence in India.

Set to open in Q1 2029, the 180-key eco resort will be located amidst the scenic Eastern Ghats of Visakhapatnam, surrounded by lakes and mountains. The resort will also be situated close to the Polavaram Irrigation Project on the Godavari River and will offer convenient access from the upcoming Alluri Sitarama Raju International Airport at Bhogapuram, located approximately one hour away.

The upcoming resort is part of the ‘Atmosphere’ sub-brand within Atmosphere Hotels & Resorts and will combine eco-sensitive design with the natural beauty of forests, lakes and the Eastern Ghats.

Speaking about the expansion, Mr. Salil Panigrahi, Co-Founder & Managing Director of Atmosphere Core, said, “We are building strong momentum in India, with new properties in key destinations. Visakhapatnam has always been central to our strategy given its importance as both a business and tourism hub. With this resort, we aim to offer a fresh, creative, and experience-led stay for a wide range of travellers, from leisure guests to those planning high-end weddings, MICE events, and holidays with family in a scenic and peaceful setting.”

Atmosphere Hillora Eco Resort Visakhapatnam will feature a mix of cottages, suites and private-pool villas, offering guests a premium stay experience surrounded by nature.

The resort will also offer a diverse dining experience with an all-day dining restaurant, café lounge, specialty restaurant, bar with lounge and library, along with a poolside bar. The culinary offerings will include international cuisines along with popular flavours from Southern India, complemented by a selection of fine wines and spirits.

For wellness seekers, the award-winning ELE|NA Ayur Spa will provide a relaxing experience with dedicated therapy rooms and expert therapists. Other facilities will include a swimming pool with an outdoor deck and a fully equipped fitness centre.

Designed as a destination for celebrations and business gatherings, the resort will feature extensive banqueting spaces including large convention halls, modern conference rooms, boardrooms and open-air venues. These facilities will cater to high-end weddings, MICE events and corporate meetings.

Visakhapatnam, also known as Vizag, continues to grow as an important destination combining tourism potential with business opportunities. The city attracts visitors with its coastline, beaches, Buddhist heritage circuits and eco-tourism locations, while also being a major industrial and logistics hub.

Home to India’s oldest shipyard, the Eastern Naval Command, two deep-water ports and several heavy industries, Vizag is also emerging as a growing destination for IT, Global Capability Centres and healthcare investments. This combination of tourism appeal and business growth continues to position Visakhapatnam as a key gateway in South India.

Commenting on the partnership, Mr. A V N Govinda Rao, Managing Director of A V N G Developers LLP, said, “Atmosphere Core’s legacy of excellence aligns perfectly with our vision to create a world-class luxury eco resort in this lush land parcel, rich in vegetation and surrounded by lakes and the rolling hills of Visakhapatnam. As this destination continues to grow in importance, this partnership will help strengthen Southern India’s premium tourism landscape and set new benchmarks in hospitality.”

Adding to this, Mr. Souvagya Mohapatra, Managing Director, Atmosphere Core (India, Nepal, Bhutan, & Sri Lanka), said, “Visakhapatnam, with its awe-inspiring natural landscape, cultural heritage, and timeless appeal, is a natural choice for our expansion. As we enter this extraordinary destination, we look forward to delivering a progressive and immersive hospitality experience, thoughtfully tailored to its surroundings, redefining luxury hospitality, and catering to high-end weddings, important MICE events, and leisure holidaymakers during weekends and festivals.”

With this development, Atmosphere Core continues to expand its India portfolio while introducing experience-led luxury hospitality offerings in emerging destinations.

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