Pride Hotels steps up expansion, plans ₹1,000 crore IPO by December

•Pride Hotels plans to launch its ₹1,000 crore IPO by December, expanding its portfolio to 72 properties.

•The company has opened 9 hotels in the last 12 months, with 8 owned and 32 managed properties, and signed contracts for another 32 hotels.

•Pride Hotels is focusing on pilgrimage destinations, with Puri seen as a promising market, and expects leisure travel to benefit from rising per-capita income and connectivity.

•The company is also investing in wind and solar power, energy-efficient equipment, and efficient chillers to contain rising operating costs.