Kotak Realty Fund, a property focused private equity assets manager has invested more than Rs. 1100 crores in Bharat Hotels. Bharat Hotels operates resorts, luxury hotels and palaces across the country. With this investment, Kotak Realty Fund total investment surpassed Rs. 5500 crores in FY23 which is record for any financial year. The Company invested after 14 more years in a hospitality company. Prior to this, the Company had invested in the parent company of Lemon Tree Hotels in 2007-08. The investment in Bharat Hotels has taken place through debt with a total tenure of 5 years. This fund will be used by the Company for repaying the loans of public and private sector banks. "The undersupply in luxury hospitality and rising demand particularly after the pandemic has improved the business confidence in this segment. This investment supports the debt refinancing and frees up the capital for growth," Vikas Chimakurthy, CEO, Kotak Realty Fund, told ET. Bharat Hotels Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act of 1956. The Company is engaged in the business of hospitality services. The Company has its principal place of business located at Barakhamba Lane, New Delhi -110001. Bharat Hotels has a portfolio of 12 luxury hotels, resorts and palaces. It has two mid-market segment hotels offering 2261 rooms in the prime location of Udaipur, Mumbai, Delhi, Goa, Bengaluru and Srinagar. Since 2005, Kotak Realty Fund has invested in 73 projects and companies and has raised 13 funds. It has invested RS. 7830 crore and realized Rs. 8050 crore from 53 complete exits of investment.