Bessemer has invested (along with New Vernon Private Equity) Rs. 38 crore ($ 8.5 million) in Sarovar Hotels, to build out a chain of budget hotels in India, under the Hometel brand.
Sarovar is India’s largest hotel chain in the mid-market segment, managing 35 properties in the 3/4-star category. Sarovar’s MD - Anil Madhok - has 40 years of hotel management experience, including the last decade as an entrepreneur, having founded Sarovar in 1994. Anil and his team have the unique combination of extensive hotel management experience in India, expertise in the mid-market (as opposed to premium) segment and a successful entreprenurial track-record with Sarovar. They have scaled up Sarovar into\India’s leading hotel management company in just over a decade.
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