Budget hotel chain FabHotels has raised Rs 54.35 crore from existing investors Goldman Sachs, Accel Partners and Qualcomm. The fresh round coming after a gap of two years will help the hospitality firm to expand its operations and increase the number of hotels under its franchise.
Currently, FabHotels runs over 500 hotels across 40 cities in India. It closely competes with Treebo while OYO has become the trailblazer in this segment. (Source: paper.vc)
