The hotel franchise company also operates a professional training academy for hotel staff and on the ground quality control teamsBudget hotel franchise chain FabHotels, which reported a loss of Rs 13 crore for fiscal 2016, has raised $25 million (around Rs 161 crore) in a series B investment led by Goldman Sachs Investment Partners. Existing investor Accel Partners also participated in the fundraising that will be used to accelerate nationwide expansion, FabHotels said in a statement. The company reported revenues of Rs 20.98 crore with a loss before tax of Rs 18.44 crore and a loss after tax of Rs 12.94 crore. The hotel franchise company also operates a professional training academy for hotel staff and on the ground quality control teams. Vaibhav Aggarwal, co-founder and CEO, FabHotels, said the company has built its technology framework and operations with three core objectives.

Source: dna July 27, 2017 02:15 UTC