NOESIS has announced the hotel merger and acquisition of the year with the SUBA group of hotels acquiring a significant majority stake in 1589 Hotels.
The transaction sees SUBA hotels adding 35 hotels & resorts across India & Nepal to its existing portfolio of 15 Hotels spread across India & UAE with significant growth to come in South Asia & the Middle East.
The 1589 Hotels operates hotels in the economy to mid-segment space predominantly in the offbeat leisure locations and tier-II & III cities. They are present in 22 cities such as Jaipur, Lucknow, Jim Corbett, Ranthambore, Dalhousie, Ajmer, Pushkar, Udaipur, Mirzapur, Vadodara, Bhavnagar, and others under the Genx and RNB brands. It also operates several properties in Nepal. The company will continue with its asset-light approach to hotel management.
NOESIS acted as an exclusive transaction advisor and Nandivardhan Jain, CEO of NOESIS led the transaction with an internal team. Entire transaction was completed in three months including the execution of the definitive agreements.
Nandivardhan Jain, CEO – Noesis Capital Advisors, said, “The opportunity to acquire 1589 Hotels which have operations across India & Nepal attracted the SUBA group of Hotels. This transaction reflects great Indian entrepreneurialism creating a sustainable conversion-friendly hotel management platform suiting independent hotel owners and domestic traveler’s requirements. The acquisition of this platform will enable SUBA Hotels to fast track its growth across South Asia”.
NOESIS Capital Advisors, Asia’s largest Hospitality transaction advisory company currently mandated for more than 12000 plus keys for operator search assignment on the lease, revenue sharing, management, and franchise contract. NOESIS is also working on an exclusive buy-side mandate from the family office and special situation funds to invest 1.5 billion dollars in distressed hospitality assets in South Asia.