Indian companies Indian Hotels Company Ltd (IHCL), belonging to Tata Group, and Prism, which is preparing for an IPO and is the parent company of OYO, have become the only hospitality companies included in the Hurun list of 150 Indian real estate companies for 2026 and have entered the top 10.
Prism's Valuation Growth
Meanwhile, Prism's valuation more than doubled, increasing by 107 percent to reach 67,200 crore rupees. The report highlighted that the hospitality sector is demonstrating growing significance, becoming one of two segments that showed growth alongside retail.
Significance of the Hospitality Sector
The report notes that Prism (OYO), founded and led by Ritesh Agarwal, is a standout story of the year in the hospitality sector and the second largest absolute winner, adding 34,700 crore rupees to its valuation and rising six positions to fifth place in the top 10.
The report also noted the evolution of the sector: a decade ago, hospitality was merely a 'note,' but now it has become the second largest segment by number of companies after residential real estate.
Company List Overview
There are now 24 hospitality companies on the list, compared to 22 years ago, and their total valuation amounts to 2.85 trillion rupees. Specifically, Indian Hotels Company, the oldest entity established in 1899, reached a valuation of 93,300 crore rupees, while Prism (OYO) under Ritesh Agarwal (aged 32, the youngest leader) reached 67,200 crore rupees with a 107 percent increase. Additionally, the recently spun off ITC Hotels debuted with a valuation of 32,300 crore rupees.
Leaders and Market Trends
Ritesh Agarwal, founder and CEO of Prism, ranked first in the list of the youngest leaders in the rating, while the oldest leader on the list is Kapil Bhatia from InterGlobe Hotels, who is 93 years old. Among hospitality firms, Prism demonstrated the highest percentage of valuation growth, and the recently spun off ITC Hotels appeared on the list with a valuation of 32,300 crore rupees.
The report also classified Prism as the second most valuable unlisted company in the country after Adani Properties. It was noted that only 31 out of 151 companies included in the rating increased their value during the year. Adani Properties and Prism (OYO) together accounted for almost two-thirds of the total created value, with Prism becoming the second most valuable unlisted company in the 2026 rating.
Market Segment Analysis
Aras Rahman Junaid, founder and chief researcher at Hurun India, stated that 'the split in the list is a real signal: segments related to what Indians spend on have grown, while segments related to what borrowers take have fallen.' He specified that residential real estate, which accounts for almost half of the companies in the rating, decreased in price by approximately 16 percent, and commercial real estate by 14 percent. Conversely, retail grew by 8 percent, and hospitality expanded to 2.85 trillion rupees thanks to Prism and the listing of ITC Hotels.
Women in the Hospitality Industry
Women were also among the industry leaders in hospitality: Jotsna Suri, Chairman of The Lalit, was among the leading women, and Priya Paul, Chairperson of Apeejay Surrendra Park Hotels, took second place, highlighting the growing participation of women in the leadership of the Indian hospitality industry.
