FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%

FabHotels reported a gross revenue exceeding INR 550 crore for FY24, although its losses widened by 23%. The company operates a network of budget hotels across India and has been growing its footprint rapidly. Despite the increase in revenue, rising operational costs and investments in expansion contributed to the widened losses. FabHotels aims to strengthen its market position by expanding into new regions, enhancing its digital offerings, and improving operational efficiency. The focus is on scaling the business while addressing the challenges of profitability.