Suba acquires majority stake in 1589 Hotels
The Hindu
Click Hotels by Suba, the budget hotel arm of Suba Group, has announced the acquisition of 35 new properties to its portfolio across 22 destinations in India by buying a majority stake in hospitality
Click Hotels by Suba, the budget hotel arm of Suba Group, has announced the acquisition of 35 new properties to its portfolio across 22 destinations in India by buying a majority stake in hospitality company 1589 Hotels, that owns hotel brands such as GenX, RNB, and RNB Select, for an undisclosed amount. “Following its acquisition, Click Hotels by Suba has marked its transition to an asset-light business model,” Suba Group of Hotels said in a statement. With this, Suba has further forayed into the leisure segment building on its ‘Bed, Breakfast, and Broadband’ and affordable luxury model.
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