Funding Alert

Negen Capital leads Rs 12 Cr funding for Grand Continent Hotels

• ByStartupStory     |    February 8, 2024

Grand Continent Hotels (GCH) has successfully concluded a funding round, securing Rs 12 crore led by Negen Capital. Serving as advisors to GCH for the fundraise are Indorient Financial Services.

Established in 2011, GCH currently oversees a portfolio of 10 properties, encompassing over 450 keys. Ramesh Shiva, Managing Director of Grand Continent Hotels, expressed the company’s ambitious expansion plans, stating, “Having established a robust business model that ensures excitement to all stakeholders, GCH aims to achieve 750 keys across 16 properties in this fiscal (ending March 24) and reach 5,000 keys’ offering by 2028.”

In appreciation of Negen’s support, Shiva added, “In this journey, GCH is delighted to have Negen as a key investor partner. I thank Neil and his team at Negen for their reposing faith in our business.”

The infusion of funds is intended to fuel GCH’s expansion endeavors within the Indian hospitality sector.

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