Tata Group-owned Indian Hotels Company Ltd (IHCL) and IPO-bound Prism -- the parent of travel-tech unicorn OYO -- are the only hospitality companies to feature among the top-10 firms in the 2026 GROHE-Hurun India Real Estate 150 list. According to the report, Prism (OYO) more than doubled its valuation, growing 107 per cent to ₹67,200 crore, adding ₹34,700 crore and climbing six places to 5th position. The hospitality sector emerged as one of only two segments to register growth, alongside retail, with hospitality expanding to ₹2.85 trillion in combined valuation. As per The Hindu BusinessLine, the report highlighted that Prism (OYO), founded and led by Ritesh Agarwal, is the standout hospitality story of the year and the second-largest gainer in absolute terms.
As Prism prepares for its public market debut, the company is undergoing a significant strategic transformation toward higher-value hospitality segments. The company-serviced hotel network expanded dramatically from 75 storefronts in FY24 to 1,573 as of December 31, 2025, according to the Updated Draft Red Herring Prospectus. These company-serviced hotels, operated under brands like Townhouse, Sunday, Townhouse Oak, Clubhouse and Palette, contributed 49.29% of India's Gross Booking Value (GBV) during the first nine months of FY26. The India company-serviced hotel GBV reached ₹1,346 crore during the first nine months of FY26, already around 65% higher than the company's entire FY25 company-serviced GBV, indicating rapid scaling in both size and productivity.
The hospitality sector has evolved significantly, with the list now featuring 24 hospitality companies, up from 22 last year. As reported by Business Standard, hospitality has grown from being a "footnote" a decade ago to becoming the second-largest segment by company count after residential. Prism Founder and Chief Executive Ritesh Agarwal, 32, topped the list of the youngest leaders in the rankings, whereas Kapil Bhatia of InterGlobe Hotels, aged 93, was the oldest leader on the list. The sector's transformation is evident as Indian Hotels Company (founded in 1899) reached ₹93,300 crore, while the freshly demerged ITC Hotels debuted at ₹32,300 crore. According to The Hindu BusinessLine, among hospitality firms, Prism recorded the highest percentage growth in valuation, while newly demerged ITC Hotels debuted on the list with a valuation of ₹32,300 crore.
According to the report, just 31 of the 151 companies featured in the rankings recorded an increase in valuation during the year. Among existing companies, Adani Properties and Prism (OYO) together contributed nearly two-thirds of the total value created. The report ranked Prism as the country's second-most valuable unlisted real estate company after Adani Properties. The Lalit's Chairperson Jyotsna Suri featured among the top women leaders, while Apeejay Surrendra Park Hotels Chairperson Priya Paul ranked second, underscoring the growing presence of women at the helm of India's hospitality industry*.
As noted by Hurun India Founder and Chief Researcher Anas Rahman Junaid, the split within the list represents a significant signal, with segments tied to what Indians spend rising while those tied to what developers borrow fell. According to the report, residential, which accounts for nearly half of the companies in the rankings, declined about 16 per cent in value, while commercial real estate fell 14 per cent. In contrast, retail grew 8 per cent and hospitality expanded to ₹2.85 trillion, driven by Prism and the listing of ITC Hotels. The 1Lattice industry report cited in Prism's filing points to rising disposable incomes, increasing business and leisure travel, expanding religious tourism and improving infrastructure as key drivers of demand for branded accommodation. India's hotel market remains highly fragmented, with 92% of hotel storefronts still unorganised, creating significant headroom for organised hospitality platforms.
