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OYO Assets the hospitality investment arm backed by OYO parent PRISM announced on Wednesday that it plans to acquire 12 hotels in the second half of the current financial year to expand its portfolio of premium and mid-premium properties. Also known as Sunday PropTech the company said that seven of the 12 targeted acquisitions are already in advanced stages of completion. OYO Assets To Acquire 12 Hotels The portfolio of acquisition will be funded through a mix of debt and equity leveraging the companys 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 with a growing interest in travel has been increasing significantly and we see compelling opportunities to deploy capital in this space Agarwal added. Whats OYO Assets Next Plan? Beyond its immediate expansion plans OYO Assets will evaluate acquisitions in the mid-scale and premium brand segments where PRISM has a strong operational footprint OYO said. These hotels will be operated under PRISMs brands including Sunday Hotels Palette Hotels Townhouse and others. PRISMs company-serviced hotel portfolio in India spans over 1300 hotels.  (With Inputs From PTI)