As Oyo-parent Prism prepares to go public in India to raise up to INR 6.6 billion ($692 million), its latest annual report describes a company that looks little like the one investors knew five years ago.
Motel 6 now accounts for almost half of the group’s gross booking value. India is becoming more of the technology and operating hub behind it. And the company is moving beyond its original marketplace model to take more control of the hotels, particularly as it pushes into premium hospitality.
Prism’s consolidated revenue rose 50% to INR 94 billion ($980 million), EBITDA more than doubled to INR 26 billion ($272 million), and profit after tax reached INR 10 billion ($105 million). Gross booking value rose 88.5% to INR 307 billion ($3.2 billion). It was Prism’s fourth consecutive year of positive consolidated EBITDA.
Three shifts stand out in the annual report:
1. Motel 6 Has Changed the Center of Gravity
The annual report shows just h
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