Bloom Hotels Aims for Rs 77.7 Crore in Funding for 2025

Bloom Hotels, a hospitality chain based in Delhi, is planning to secure Rs 77.7 crore (approximately $9 million) in its initial funding round of 2025. This effort will involve investments from Samena Capital Limited and Ikonika Holdings.

The board of Bloom Hotels has sanctioned a special resolution to issue 7.77 crore compulsory convertible preference shares to facilitate this funding, as indicated in their filing with the Registrar of Companies (RoC). The funds generated will be directed towards enhancing the company’s growth and expansion initiatives, as stated in the filing.

This prominent hospitality firm manages several brands, including Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms. At present, the company operates over 50 hotels in various cities, including Mumbai, Pune, Udaipur, Jaipur, and the NCR.

Funding Goals and Equity Investments

Recent media reports suggest that Bloom Hotels aims to raise Rs 400 crore from private equity markets, with General Atlantic approached as part of this funding strategy. To date, the company has successfully raised around Rs 362 crore (about $45 million) from Samena Capital, which now possesses a majority ownership of the hospitality chain.

Financial Performance and Market Position

Although Bloom Hotels has yet to disclose its financial results for FY25, the company has experienced an impressive growth trajectory, reporting a fivefold increase over the past two years. Revenue surged from Rs 49 crore in FY22 to Rs 250 crore in FY24, with a net profit of Rs 14 crore reported for the fiscal year ending in March 2024.

In terms of competition, Bloom Hotels rivals Treebo Hotels and FabHotels, which achieved operating revenues of Rs 88.6 crore and Rs 224 crore, respectively, in FY24. Additionally, it competes with emerging players like Salt Stayz and larger brands such as Oyo, particularly with its Sunday Hotels offering.