Svenska Design Hotels, that runs a chain of luxury boutique hotels has raised Rs 30 crore in mezzanine capital from DMI Finance, an Indian non-bank finance firm.
Svenska operates hotels in Mumbai and Bangalore and has planned to expand in four more cities in the future including Delhi, Kolkata, Kakinada and Bhilwara. Based on European design concepts, Svenska is focused on developing and managing chic and trendy small-format (30-100 rooms) upscale hotels that offer luxury hospitality.
The group also owns, manages and franchises various food & beverage concepts, including Miro (Mediterranean specialty), Soul (contemporary Indian restaurants), Mesa (multi-cuisine all-day-dining bistros, delis and lounge bars) and Sensen (al-fresco pan-Asian/ Japanese bars & grills).
We are setting out to create a whole new segment within the Indian hospitality landscape of top-end luxury hotels in small-format with a heavy component of F&B targeting both resident guests as well as locals looking for a lifestyle destination offering the best of cuisines, along with fashion, art, music and design, said Zia Shiekh, CEO of Svenska Design Hotels.
Langham Capital, an investment bank with offices in Gurgaon and London, advised Svenska for the transaction.
Started in 2008 by Shivashish Chatterjee and Yuvraja C. Singh(both joint managing directors), DMI Finance operates in NCR, Mumbai and Bangalore. It is into debt capital markets services besides structured finance solutions.