Embassy Group's hospitality arm Olive planning to raise $20 million, onboard strategic investor
6 months, 1 week ago

Embassy Group's hospitality arm Olive planning to raise $20 million, onboard strategic investor

Hindustan Times  

Olive, the co-living and hospitality arm of Embassy Group, is looking to raise $20 million and bring on board a strategic investor with a minority equity stake in the brand, company co-founder and chief executive Kahraman Yigit told HT Digital. Embassy Group's hospitality arm Olive is looking to bring on board a strategic investor via a $20 million fundraise. Presently 90% of the brand’s business comes in the form of short stays, with long stays fetching anywhere between ₹15,000-40,000 per unit into the company’s kitty, Yigit said. Embassy Group’s contribution The Bengaluru-headquartered real estate major Embassy Group had pledged an investment of ₹2,000 crore into Olive, back in 2020.

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