NEW DELHI: FabHotels , a technology-driven budget hotel franchise, announced today that it has raised $25 million in a Series B investment led by Goldman Sachs Investment Partners Accel Partners , an existing investor, also participated in the round. The funds will further accelerate the nationwide expansion of FabHotels, the company stated.FabHotels' franchise model focuses on partnering with 20 - 40 rooms capacity budget hotels. Such unbranded budget hotels, with over one million rooms of capacity, make up the largest and most fragmented hospitality segment in India today. "This investment by Goldman Sachs Investment Partners will further strengthen our market leadership position, brand and expansion. ""There is enormous opportunity to innovate around the hospitality experience of today’s budget traveler in India," said Prashanth Prakash, a partner at Accel Partners.

Source: Economic Times July 26, 2017 06:33 UTC