OYO parent PRISM-backed OYO Assets, on Wednesday, said it plans to acquire 12 hotels in the second half of this financial year to scale its portfolio of premium and mid-premium hospitality assets.

OYO Assets, also known as Sunday PropTech, said that out of the 12 targeted acquisitions, seven hotels are in advanced stages of acquisition.

"The portfolio of acquisition will be funded through a mix of debt and equity, leveraging the company's strong balance sheet and investor support from an InCred and Analah-led consortium, along with PRISM Life and its shareholders such as SoftBank," OYO said.

Saurav Agarwal, Board Member, Sunday PropTech, said its focus is on properties in good locations with strong return potential.

"The need for high-quality premium and mid-premium hotels, coupled wit

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