Hospitality Investment Opportunities

Yesterday, Swish (10 minute food delivery app) announced its $2M Seed round led by Accel India. Swish is live at 2 locations in BLR so far -- and has plans to launch 150-200 kitchens in the next 8 months.. The "fast" food delivery battleground is heating up -- Zepto disclosed that it has crossed ₹160 crore annualized GMV from its Cafe biz. And, Zepto is opening 100 new cafes per month. Their target is to cross ₹1,000 crore annualized GMV by end of FY24-25 i.e. 6x growth this year. There are quite a few players in this segment: (1) Bolt by Swiggy (15 mins) -- marketplace model (i.e. 3rd party restaurants) (2) Swiggy Café (10 mins) -- 1P model (i.e. own dark kitchen) (3) Zepto Café (10 mins) -- 1P model (i.e. own dark kitchen) (4) Swish (10 mins) (5) Select restaurants on Zomato (10 mins) (6) Select non-Bolt restaurants on Swiggy e.g. Protein Chef by Lo Foods (15 mins) 💡 Note: Despite skepticism, I do believe there is a major gap for healthy foods to be delivered super fast (best example is Protein Chef) to capture wallet share of late night cravings, evening office hunger pangs etc.. Swish has taken the B2B2C route -- targeting densely packed office neighborhoods in BLR. Whereas, the incumbents are riding their massive B2C distribution from the legacy QC or F&B biz. 🧠 All players seem to have finally realized that some healthy options are required: Swish has a fruit bowl concept. Swiggy Café has protein shakes in partnership with The Whole Truth Foods (big fan, very biased, sorry!) I do believe that if this category is cracked, it could be a net +ve for health: Right now, snacking options near offices are primarily deep fried dishes (pakodas, samosas etc) or maggi variants.. Given enough time, you'll see the 10-15 minute food delivery players work out more healthy options. ➡️The key to building this biz will be figuring out the right balance of quality (ingredients & prep) <> speed of delivery <> assortment (i.e. menu refresh / variety). #startups #india #venturecapital

🌏 Half the world’s population lives here — and the future of tourism, hotels, and real estate investment is being written across Asia. Understanding demographics isn’t optional. It’s the starting point for anyone serious about growth markets. Half the World Lives Here. The Implications for Tourism, Travel, and Investment Are Profound. This map reveals what simple statistics often obscure: Half of the world's population — 4 billion people — lives in a remarkably concentrated region of Asia. Countries such as China, India, Indonesia, Bangladesh, Pakistan, Vietnam, and the Philippines are now the demographic epicenters of global growth. What does this mean for tourism, travel, and hospitality, particularly in Southeast Asia and Indonesia? 🔹 Tourism Demand Will Localize and Regionalize As middle-class wealth expands, intra-Asian travel will soon outpace long-haul markets. Indonesia, with its vast archipelago, rich culture, and strategic location, is poised to capture a disproportionate share of this demand. 🔹 New Source Markets Will Emerge Beyond established cities, travelers from second- and third-tier cities across China, India, and ASEAN will become key. Tailoring tourism products to varied preferences and incomes will be essential. 🔹 Hotels and Accommodation Will Rapidly Evolve The travel boom will drive not just more hotels — but new models: eco-resorts, serviced apartments, hybrid hotels, branded residences, boutique experiences, and community-based stays. Investors who understand these shifts can move early into underserved, high-growth niches. 🔹 Infrastructure and Capacity Will Be Tested Destinations investing in smart infrastructure — airports, roads, broadband — will win. Others risk crowding, deterioration, and declining competitiveness. 🔹 Sustainability and Authenticity Will Define Success A rising generation of travelers seeks immersive, meaningful, and sustainable experiences. This will reshape not only tourism products but also hotel operations, brand positioning, and investment strategies. 🔹 Asia Will Reshape the Global Travel Ecosystem The global tourism, hospitality, and real estate industries must pivot to an Asia-first mindset — or risk obsolescence. The Bottom Line: Demographics are destiny. Where populations concentrate, opportunity follows — not just for tourism flows, but for the full accommodation, investment, and development ecosystem. Southeast Asia — and Indonesia, in particular — is no longer a future opportunity. It is today’s accelerating reality. 💬 I'd be interested to hear: How do you see tourism, hospitality, and investment strategies evolving across Asia in the next decade? #GlobalMarkets #Tourism #EmergingMarkets #Asia #Indonesia #TravelTrends #HotelInvestment #AccommodationTrends #SoutheastAsia #GrowthOpportunities #InvestSmart #Demographics

The Financing Gap in Tourism: A Story of Resilience and Revival For Mr. Ajay Pahuja (name changed), owning a boutique hotel in Rajasthan was a lifelong dream. Nestled in the heart of a historic city, his property promised an authentic experience to travelers. But when the pandemic hit, bookings plummeted. Revenue dried up, but expenses—staff salaries, maintenance, and loans—kept piling up. “I’ve poured my heart into this place. Watching it crumble felt like losing a part of myself,” he shared during a call. Banks weren’t willing to step in. The terms were rigid, and the waiting period too long. Investors? They wanted ownership stakes he couldn’t afford to give away. That’s when Monei Matters entered the picture. The Problem: Financing Gaps in Tourism and Hospitality The tourism and hospitality sector contributes 7% to India’s GDP and employs over 43 million people. Yet, businesses in this sector face severe financing challenges: Seasonal Revenue Fluctuations: Off-peak seasons and unexpected crises like the pandemic create cash flow issues. High Fixed Costs: Salaries, maintenance, and utilities must be paid regardless of occupancy. Limited Funding Options: Many lenders hesitate to fund hospitality businesses due to perceived risks. The result? Even the most promising ventures face uncertainty when times get tough. A Solution That Works: Tailored Financing When Mr. Pahuja partnered with Monei Matters, we didn’t just provide funding—we crafted a solution tailored to his business’s unique needs. ✅ Hospitality-Specific Financing: Understanding the sector’s seasonal nature, we structured a funding package aligned with his peak and off-peak revenue cycles. ✅ Last-Mile Support: We injected ₹10 crores to cover overdue expenses and relaunch marketing campaigns to attract guests. ✅ Flexible Terms: Unlike rigid loans, our financing terms allowed him to focus on growing his business without undue stress. The result? Mr. Pahuja’s boutique hotel is now thriving, with occupancy back to 80% and his team fully employed. Our Decade of Impact in Tourism Financing Over the last 10 years, we’ve helped 20+ tourism and hospitality ventures bounce back, grow, and thrive: Structured financing for heritage hotels across Rajasthan. Turnaround funding for a 5-star resort in Kerala facing an NPA crisis. Expansion loans for luxury hotels in Goa, enabling them to add 200+ rooms. Our mission is simple: to ensure that dreams built on hard work don’t falter due to financial gaps. Curious About How We Can Help You? The tourism and hospitality industry is resilient but needs the right financial tools to weather storms and seize opportunities. 📞 Call us at +91-9313803227 📧 Email: pradeepg19@gmail.com 🔑 Let’s craft a solution as unique as your business. What’s the biggest challenge you’ve faced in hospitality financing? Share your story or DM us to explore how we can help.

The greatest innovation at the St. Regis Aspen? It's not the $50M renovation. It's not the 15,000 sq ft spa. It's how they're transforming luxury hotel ownership: They're proving how iconic properties can democratize ownership. From $70M purchase to 138% EBITDA growth. Here's what makes this project fascinating: In 2010, Elevated Returns bought the St. Regis Aspen for $70M. They didn't just renovate - they reimagined ownership. Now, anyone can own a piece for $100 through Aspencoins. Performance metrics: • EBITDA: $6.9M to $16.4M (138% growth) • $50M strategic renovation completed • First-day trading: 32% price increase • 138,000 trading volume at launch This isn't just about one luxury hotel. It's about transforming how we think about hotel ownership. And prove that institutional-quality assets can be accessible to more investors. Property fundamentals: • 179 luxury rooms • 15,000 sq ft Remède Spa • Prime Aspen Mountain location • Marriott International management Here’s what makes this project unique: • 20% ownership via Aspencoins • Trading on tZERO platform • Digital security structure • 20-50% room rate benefits for owners Why this model works: • Liquidity for investors in an illiquid asset class • Provides access to an institutional-grade asset for retail investors • Aligns ownership with a unique guest experience • Tokenization introduces real-time price discovery and potential liquidity The owners aim to expand this model to other luxury properties. But the St. Regis Aspen is combining institutional quality with digital innovation. The result: new ownership possibilities. What other iconic properties could follow this model? How do you see digital ownership transforming luxury real estate?

Delivery Hero to sell stake in Deliveroo as demand for food dispatch wanes The food delivery landscape is witnessing strategic shifts as Delivery Hero announces its decision to divest its stake in Deliveroo. This move comes as the industry adjusts to changing consumer demand dynamics post-pandemic, with Berlin-based Delivery Hero looking to sell approximately 68.2 million class A ordinary shares in Deliveroo, constituting around a 4.5% stake. Facing increased investor scrutiny and the impact of rising capital costs, food delivery companies are under pressure to demonstrate profitability. The sector has also felt the effects of the cost of living crisis, prompting companies to reevaluate their strategies. Delivery Hero's decision aligns with its commitment to disciplined capital allocation. The sale of its stake is expected to raise approximately £83 million, with the proceeds earmarked for general corporate purposes. The move comes just ahead of the expiration of Deliveroo founder Will Shu's dual-class shares, granting him additional voting powers, including the ability to block a hostile takeover. Delivery Hero initiated the acquisition of its stake in Deliveroo in 2021, capitalizing on the industry's growth momentum during the pandemic. Analysts now speculate on potential acquirers in the consolidation debate, with attention turning to whether US food delivery group DoorDash could seize this opportunity. DoorDash's recent expansion into new markets adds an interesting dimension to the evolving dynamics of the food delivery sector. Delivery Hero's decision to part ways with its Deliveroo stake raises questions about potential future consolidations and realignments within the industry. Deliveroo's shares, trading below its IPO price since its debut in March 2021, have experienced a more than 30% rise in the past year. In contrast, shares in Delivery Hero have seen a nearly 60% drop over the same period. As the accelerated bookbuilding process with institutional investors unfolds, the results are eagerly anticipated, with the placement expected to be finalized on Thursday. The move by Delivery Hero signals a strategic realignment in the food tech landscape, emphasizing the need for adaptability in a sector marked by evolving consumer preferences and economic challenges. Stay in the loop! Subscribe to our newsletter, Boolanga Business Bites, powered by Wear Your Brand, to get more industry insights!

Think Zomato acquired only Blinkit & Paytm Insider? Well, you are wrong. There's much more to it. Zomato is building it's own ecosystem. From logistics and table reservation technology to entertainment ticketing, Zomato is building an ecosystem that meets various consumer needs. Acquiring Runnr and Sparse Labs enhances delivery logistics, reducing costs and improving customer experience. Acquisitions like Uber Eats and Paytm Insider expand Zomato's service offerings, increasing revenue streams. International acquisitions such as Urbanspoon & Obedovat help Zomato grow its global presence and user base. Blinkit and Fitso acquisitions allowed Zomato to enter quick commerce and health sectors, unlocking new revenue opportunities. Acquiring Feeding India highlights Zomato's commitment to social impact, enhancing brand reputation. With the acquisition of Paytm Insider, they would directly become the No. 2 company in the movies and events ticketing space, just next to BookMyShow. Zomato's forward-thinking and adaptability in the ever-evolving food-tech industry is truly impressive! A perfect strategic acquisition story covering each segment and ticking all the boxes.

India’s quick food delivery space is on fire By 2030, this market is expected to cross ₹2 lakh crore Growing at a steady 18% CAGR We now have five players defining five radically different paths: 1. Zepto Cafe - Went from 30k to 100k+ daily orders - 50% gross margin on snacks & drinks - Built for 10-minute delivery via dark stores • Snack-first = higher margins than meals • Urban density + micro-warehousing is its engine • Positioned as a full-stack alternative to Zomato/Swiggy But: - Operations were paused in 44 stores across North India - Delhi NCR, Agra, Meerut, Haridwar, Gorakhpur, Amritsar, and Ghaziabad were impacted - Supply + staffing crunch triggered shutdown • Target to resume Q2 FY26 •Highlights the fragility of scaling ops too fast •High dependency on hyper-local labor & logistics 2. Bistro by Zomato  Zomato tried a restaurant-led 10-minute model.  It failed. • Kitchens weren’t ready • Restaurant menus were too long • CX was inconsistent - So they pulled the plug—and went all in on Blinkit’s Bistro kitchens. - Now active across Delhi NCR, Mumbai, Bengaluru. - More than 100 kitchens. Zomato now controls the experience end-to-end. • Tighter kitchen prep timelines • Curated, limited menus  • Blinkit infrastructure as a moat 3. Swiggy Bolt Swiggy’s counterpunch? Bolt - Live in 500 cities - 10–15 min food delivery - Now over 10% of total Swiggy food orders Unlike Zomato’s earlier model, Swiggy took a smarter route: • Partnered with restaurants to create Bolt-only prep stations • Menus capped at 8–10 items for speed • Uses cloud kitchen expertise to streamline ops Bolt isn’t about being everywhere. It’s about owning the urban “hungry-now” moment - Ideal for metros - Great for high AOV use cases - Appeals to speed-first professionals 4. Swiggy Snacc Snacc is Swiggy’s most interesting—and riskiest—play - A standalone app - Built for snack-first consumers - Targets urban, health-conscious professionals Think cold brews. Protein bars. Shakes. Delivered in <10 minutes. Unlike Bolt or Bistro, Snacc is not about meals. It’s about intent-driven indulgence. Why a separate app? • To test a focused vertical • To learn from behavioural signals • To keep branding distinct from Swiggy’s mainline But:  - Low order frequency.  - Harder to builda habit.  - Limited scale outside major cities. 5. bigbasket enters the chat BigBasket just announced a national rollout of 10-minute food delivery. Starting with: - 40 dark stores by July - Snacks from Starbucks and Qmin (Tata-owned) - No third-party brands involved The twist? They’re bundling food with existing grocery orders. This means: • Lower delivery cost per order • Higher AOV per cart • Repeat use from a loyal base And they’re expanding dark stores from 700 → 1200 by end-2025. So what’s really going on here? Standalone apps. Snack-only menus. Bundled logistics. This isn’t just food delivery anymore. It’s micro-commerce. Optimized for time, mood, and moment.

You don’t buy a brand like Poppi for the product. You buy it for what it signals — where the food system is heading, and where your portfolio isn’t yet. PepsiCo didn’t just acquire a drinks brand. They bought distribution leverage, consumer trust, and a faster route to relevance. Everyone’s talking about the $300M tax benefit — but that’s just the mechanics. The real strategy is systemic: ➡️ Shifting from legacy formats to functional, wellness-led propositions ➡️ Rebalancing portfolios for higher-margin, health-forward growth ➡️ Buying early-stage traction instead of building slow internal pipelines ➡️ Regaining trust through brands consumers actually believe in ➡️ Integrating digital infrastructure — data, community, insight — into commercial models This isn’t just brand acquisition. It’s portfolio modernisation — a response to structural change in how food is made, marketed and consumed. The tax efficiency makes the deal work on paper. But the real value is in staying ahead of the system-wide shift. Acquire relevance. Scale what works. Build the portfolio the next generation wants. Which early-stage brands do you think are genuinely reshaping the system — and who’s most likely to move next?

CASE STUDY ON THE EFFECTS OF NEW SUPPLY FOR REAL ESTATE OWNERS. The 152-key Aloft hotel in Houston's Galleria opened in 2009. In 2014, it sold for $40.5mm / $266K per key. In 2015, the hotel was doing $7.5mm in revenue. In 2017, revenue decreased by 15% vs. 2015 to $6.4mm... And the loan was added to the special servicer watchlist. Why did the hotel lose 15% revenue/market share? 482 new keys came online 0.2 miles from the hotel: 1) 325-room Hyatt Regency Hotel Houston Galleria 2) 157-room Hyatt Place Houston Galleria The Aloft was able to hold occupancy rates but had to undercut competitors on pricing—hence the 15% destruction in revenue. Notably, Houston does not have formal zoning laws—so the barriers to entry in Houston are dismal. New supply for this hotel was just one headwind—Covid was another. However, notice that the drop in revenue happened well before Covid, when new supply was added to the market. Separately, a story for another day—the special servicer sued the loan originator for contributing the loan to a CMBS trust without properly notifying the franchisor... ...The special servicer sought to have the originator cure the issue by repurchasing the loan. The judge favored the special servicer and is ordering the originator to buy back the loan for $50.6mm ($322K per key)... ...Original purchase price of $41.6mm plus $9mm in interest. Source: Houston Business Journal