Brigade Enterprises expands presence in Mysuru, launched fourth hotel with Accor

The company stated that ibis Styles Mysuru showcases a fusion of contemporary design and cultural nuances. The hotel boasts 130 rooms. Additionally, the hotel has 30 suites featuring kitchenettes, private balconies, and spacious living areas.

M R Jaishankar, executive chairman of Brigade Enterprises, said that Mysuru is a key luxurious destination in Karnataka. The location has seen an uptick in the number of tourists post the COVID-19 pandemic.

“It is a popular getaway for tourists and a resting point for those traveling to the Western Ghats. The number of tourists coming into Mysuru has significantly increased in the last three years, post-Covid-19,” he said.

Brigade Enterprises recently announced that it had partnered with abCoffee to enhance tenant experience in its Bengaluru office spaces. The partnership will result in the opening of 6 outlets within Brigade properties to enhance the café experience for tenants and visitors.

In Q1FY25, Brigade Enterprises reported a 267% year-on-year (YoY) rise in its Q1 net profit to ₹80.53 crore. The company’s total consolidated income during the quarter rose by 62.44% YoY to ₹1,113 crore.

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter came in higher by 59.22% YoY to ₹328 crore. Brigade Enterprises’ land bank stood at 517 acres at the end of the quarter.

Shares of the company have risen by nearly 28% since the beginning of the year. The stock has gained over 93% in the past year.