Deal Street

September 18, 2017

Treebo Hotels raises $34 mn for hotel network

Treebo Hotels

Treebo Hotels, India’s 3rd largest hotel chain and operates in the budget segment of the hospitality industry, has raised $34 million (Rs. 220 crore) in its Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital.

Treebo operates on a franchise model and emphasizes on tight quality control. As of February 2017, Treebo Hotels operates 250 hotels in 54 Indian cities.

Existing investors SAIF Partners, Matrix Partners India, and Bertelsmann India Investments also participated in the round, an official stated.

Rajaram Legal acted for Treebo Hotels. The team was led by Partner Archana Rajaram along with Senior Prasad Subramanyan.

AZB & Partners advised and the team was led by Partners Sai Krishna Bharathan and Sugandha Asthana along with Senior Associate Vasudha Asher.

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