Restaurant India News: Pride Hotels Signs Long-Term Lease for Pride Plaza Indore

Pride Hotels Limited has announced the signing of Pride Plaza Indore under a long-term lease agreement, further expanding its presence in Central India. The development marks the introduction of the group's fifth Plaza-branded hotel following properties in Delhi, Ahmedabad, Kolkata and Jaipur.

The signing also establishes Pride Plaza Indore as the second property operated by the group in Indore, following the existing Pride Premier Indore. Located in Rau on AB Bypass Road, the hotel is strategically positioned to cater to business and leisure travellers, with connectivity to the Pithampur industrial region and the Ujjain spiritual circuit.

The move aligns with Pride Hotels' broader expansion strategy, which focuses on entering high-growth markets across business, leisure and pilgrimage destinations. Over the last six months, the company has expanded its footprint through openings in Sambhaji Nagar, Gandhinagar, Alwar, Noida and Himmatnagar.

With this addition, Pride Hotels strengthens its presence in Madhya Pradesh, where it already operates hotels in Bhopal, Jabalpur and Indore. The company continues to build on its established presence across Gujarat, Uttarakhand, Rajasthan, Maharashtra and Delhi-NCR while exploring opportunities in emerging markets such as Hyderabad and Mumbai, leisure destinations including Kalimpong and Nainital, and pilgrimage centres such as Somnath.

Sureshchand Premchand Jain, Managing Director, Pride Hotels Limited, said, "Being from Madhya Pradesh, I have always wanted to establish a hotel in Central India under our owned portfolio. After building a presence through our owned hotels in metro cities and business hubs such as Delhi, Kolkata, Ahmedabad, Pune, Nagpur, Chennai, and Bengaluru, I am proud to bring our flagship Pride Plaza brand to Indore. While we have successfully operated several hotels under the asset-light model, this long-term lease reflects our deeper commitment to the city and the region."

Satyen Suresh Jain, Whole-Time Director and Chief Executive Officer, Pride Hotels Limited, added, "We believe in Indore’s growth story, and this signing reflects our long-term commitment to the city. After Pride Premier Indore, we are proud to introduce our second hotel in Indore with Pride Plaza Indore, this brand further elevates our portfolio in the city. This is not merely an expansion; it is a flagship statement that reflects our confidence in Indore as a key business, cultural, and hospitality destination."

Pride Plaza Indore will feature 141 rooms along with banquet facilities and supporting hospitality infrastructure. The property is expected to cater to the growing demand for meetings, conferences, weddings and social events in the city.

Atul Upadhyay, Whole-Time Director, said, "Pride Plaza Indore is envisioned as an addition to the city’s hospitality landscape. It is the arrival of a premium address that brings together luxury, culture, commerce, and Pride’s signature Indian hospitality. With superior Meetings, Incentives, Conferences, Exhibitions (“MICE”) facilities, distinctive dining experiences, and the strength of a trusted national hospitality brand, Pride Plaza Indore is set to address Indore’s growing demand for refined accommodation, premium events, and elevated hospitality."

The property has been leased from Sanjeev Mishra of Black Rock Hotels. Speaking on the partnership, Mishra said, "We are pleased to partner with Pride Hotels Limited for this landmark property in Indore. The partnership is poised to deliver a premium experience for business and leisure travelers in the region."

The signing reflects the continued momentum in India's hospitality sector, with operators increasingly adopting a mix of asset-light and long-term lease models to accelerate expansion. Indore, in particular, has emerged as an attractive market due to its growing industrial base, improving infrastructure and increasing demand from business and event-driven travel segments.