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Business Standard
08-07-2025
- Business
- Business Standard
Ventive Hospitality jumps after joining hands with Marriott Intl
Ventive Hospitality rallied 5.23% to Rs 783.05 after the company along with its promoter group entities has announced the expansion of its strategic partnership with Marriott International to manage 1,548 rooms across 7 hotels. The company has signed contracts with Mariott International for seven luxury, upper upscale and upscale hotels comprising of 1,548 rooms across India and Sri Lanka, marking multiple brand debuts in key locations including Sri Lanka, Varanasi, Mundra, Pune, and Navi Mumbai. Of the seven hotels, three hotels are being developed by Ventive Hospitality and its subsidiaries, the RitzCarlton Reserve (73 villas along with 80 branded residences for sale) at Pottuvil, near Yala East National Park in Sri Lanka, Varanasi Marriott Hotel (161 rooms) at Varanasi, India and Courtyard by Marriott (200 rooms) at Mundra, India. The remaining four hotels, JW Marriott Navi Mumbai (450 rooms), Moxy Navi Mumbai (200 rooms), Moxy Pune Wakad (264 rooms) and Moxy Pune Kharadi (200 rooms), are being developed by the promoter group companies under a right of first offer (ROFO) or alternative structure basis for the Ventive Hospitality and will be transferred to the company under a suitable arrangement that maximizes value for all stakeholders equitably. Atul Chordia, chairman and executive director of Ventive Hospitality Ltd, said "We're excited to begin FY 2025-26 on a strong note, particularly as it is our first financial year post listing. This partnership not only strengthens our two-decade-long relationship with Marriott International but also marks a pivotal moment in our journey to redefine India's hospitality sector. By leveraging Marriott's global expertise and our deep real estate knowledge, we aim to create distinctive destinations that elevate guest experiences for both business and leisure travelers, driving growth in the luxury and upper-upscale segments and expanding our footprint beyond Pune, Bengaluru, and the Maldives. This collaboration underscores our commitment to aggressive growth while maintaining prudent leverage. Rajeev Menon, president, Asia Pacific (excluding China), Marriott International, said, Our growth strategy focuses on being present where our guests are looking to travel. We are thrilled to work with Ventive Hospitality, as we continue to meet the growing demand for luxury travel experiences and worldclass hospitality services. We are especially excited to have signed the Ritz-Carlton Reserve, that is expected to mark the brands debut in Sri Lanka. Todays signed agreement underscores our long-standing. Ventive Hospitality is an owner, developer and asset manager of luxury and upper upscale hotels in India and the Maldives. The hotels are operated by global brands like Marriott, Hilton, Minor and Atmosphere. The companys consolidated net profit surged 170.8% to Rs 127.88 crore on 461.9% jump in net sales to Rs 697.94 crore in Q4 FY25 over Q4 FY24.
Mint
08-07-2025
- Business
- Mint
Ventive Hospitality to open six hotels with Marriott in India by 2030
New Delhi: Panchshil group and Blackstone-backed Ventive Hospitality Ltd, a listed hotel development and management business, will add six new hotels to its portfolio in partnership with Marriott International over the next five years in the country. The properties will be added in Varanasi, Uttar Pradesh; Mundra, Gujarat; Pune, and Navi Mumbai, Maharashtra, the company said in an announcement. This will add 1,600-odd rooms to the American hospitality major's India portfolio. At present, Marriott has 142 hotels in India and it manages over 25,500 rooms. It also has another 16 properties of ITC Hotels in its portfolio. These are part of its distribution network. Marriott had earlier told Mint it would scale to 50,000 rooms over the next five years. Ventive listed on the stock exchange in December last year and currently owns all hotel assets of Panchshil and Blackstone across India and the Maldives, which span 11 hotels. The new hotel pipeline of six properties with Marriott will include two hotels owned by Ventive—a 161-room property in Varanasi and a 200-room hotel in Gujarat. Another four– one JW Marriott and three Moxy branded hotels in Navi Mumbai and Pune– will be built by the company's promoter group Panchshil on leased land. Later, Ventive will have the option to acquire these properties from it under a pre-agreed commercial arrangement after they are ready. Overall, Ventive said it had plans to double the number of hotel rooms it owns to more than 4,000 over the next five years at an estimated investment of about ₹ 2,500 crore. The company also plans to buy hotels to add inventory. Marriott International has been aggressively scaling up its hotel management business in India. Last month it acquired a minority stake in Chaudhary group-owned Concept Hospitality, which operates brands like the Fern Hotels and Resorts, to launch a new hotel brand Series by Marriott. Marriott International continues to expand its footprint in India through a range of brands, 18 of which are in India. Marriott International's Asia Pacific president, excluding China, Rajeev Menon, told Mint that of its entire hotel portfolio in India, about 60% companies have more than one hotel signed with them, and the company has long-lasting associations with several hotel ownership companies. It also currently operates five hotels owned by Panchshil. Ventive expects yearly earnings before interest, taxes, depreciation, and amortization (Ebitda) from its existing hotels to grow from ₹ 1,000 crore to ₹ 1,350 crore over the next five years. New hotels are expected to bring in an additional ₹ 500–600 crore per year once they are fully operational. Most of this growth into new hotels, it said, will be funded through profits generated by its existing hotels in India and the Maldives, Any short-term funding gaps, the company said, will be covered through debt. 'This partnership with Marriott not only strengthens our two-decade-long relationship but also marks a pivotal moment in our journey to redefine India's hospitality sector,' said Atul Chordia, chairman and executive director of Ventive Hospitality Ltd in a statement. Ventive currently owns 11 hotels across India and the Maldives, and works with other companies like Minor Hotels and Atmosphere Hotels. Besides adding to its India portfolio, Ventive is developing a Ritz-Carlton Reserve property in Pottuvil, on Sri Lanka's east coast. India has about 200,000 branded hotel rooms and it is expected to reach 300,000 by 2030, according to consultancy Horwath HTL. Last month, ratings agency Icra revised its outlook for the hospitality sector from positive to stable, anticipating more moderate growth in FY26 after three consecutive years of strong performance. It expects revenue growth to stay at 6-8% due to the high base effect following the post-pandemic surge, with overall hotel performance likely to remain steady. Premium hotel occupancy is expected to remain strong at 72-74% in FY26, slightly up from the 70-72% levels seen in FY24 and FY25. Average room rates are also likely to rise marginally to ₹ 8,200-8,500, from ₹ 8,000-8,200 in FY25, as hotel supply remains tight amid limited new additions and ongoing renovations across several properties.
Time of India
06-07-2025
- General
- Time of India
Bengaluru's south zone tops streetlight load as civic body begins LED overhaul
Bengaluru: The city's South zone has the highest number of streetlights and will be a focus area in Bruhat Bengaluru Mahanagara Palike's ongoing LED streetlight conversion project. Of the 80,584 streetlights in the zone, 55,703 are still vapour lamps. This makes the zone the largest contributor to streetlight electricity consumption in Bengaluru. The civic body is working to replace more than 2 lakh vapour lamps with energy-efficient LED lights over the next eight months. Across the city, BBMP manages more than 5.3 lakh streetlights. In second place is RR Nagar with 79,704 streetlights, including 44,140 vapour lamps, followed by East zone (78,519 streetlights, of which 37,167 use vapour technology). In Mahadevapura, there are 77,787 streetlights, including 48,666 vapour lamps — the second-highest count of vapour lamps. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Mahadevapura zone residents have raised concerns about poor lighting in many areas. Shalini Ramesh, a resident of Hoodi, said: "In areas such as Kasavanahalli and Haralur Road, there are long stretches without functioning streetlights. We're forced to use mobile torches at night." Rajeev Menon from Brookefield said the road near his apartment becomes pitch dark after 8pm. "It's a daily risk to walk or even drive here," he said. Nakul Joshi, who lives in Kasavanahalli, added that there has been no lasting solution despite residents raising complaints multiple times. In West zone, BBMP operates 76,878 streetlights, with 24,369 vapour lamps. Bommanahalli has fewer total streetlights at 48,126, but 32,458 of them are vapour lamps. Dasarahalli has 56,569 streetlights, including 28,139 vapour lamps. Yelahanka, which has the lowest count at 27,502 streetlights, has 13,779 still using vapour tech. BBMP officials said 45 newly added layouts and extensions will be included in the LED conversion project. Work has been divided into four packages and tenders have been finalised. Surveys are under way and bulk replacement of lights is expected to begin within two months. The full project is expected to be completed within six months of physical work starting. Contractors will cover the upfront cost of installation and will be paid monthly by BBMP based on energy savings. BBMP superintendent engineer (electrical) Anand K said: "The size of Bengaluru and its complexity has slowed the process. But we're committed to completing the switch as quickly as possible." The project is expected to reduce electricity bills, improve street visibility, cut down maintenance, and enhance safety across all zones. GFX LET THERE BE LIGHT Zone Total streetlights Vapour lamps South 80,584 55,703 RR Nagar 79,704 44,140 East 78,519 37,167 Mahadevapura 77,787 48,666 West 76,878 24,369 Bommanahalli 48,126 32,458 Dasarahalli 56,569 28,139 Yelahanka 27,502 13,779 Total 5.3 lakh* 2.2 lakh* — Source: BBMP | * Figures rounded off
Skift
04-06-2025
- Business
- Skift
Marriott's Strategy for Its New Series Brand: Why It Started in India
Sure, Marriott had the scale, but it lacked a midscale brand in India — until now. With Fern and the launch of Series, it's finally filling the gap and going all-in on India's fastest-growing hotel segment. When Marriott International introduced its newest global brand — Series by Marriott — it chose India as the launch market and took the unusual step of making an equity investment in its local partner, Mumbai-based Concept Hospitality. Asked if this is the hotel company's first equity investment in the Indian hotel sector, Rajeev Menon, president of Asia Pacific (excluding China) at Marriott International, said, 'You could say that. Marriott will only invest for very strategic purposes. And we see this as a very unique opportunity.' It's a notable move for the hotel giant, which traditionally expands through franchise and management contracts and typically launches brands in Western markets. 'For the 24 years that I've been with Marriott, very rarely do we make investments,' said Menon. 'So you can understand t
CNBC
03-06-2025
- Business
- CNBC
Marriott International eyes major India expansion, targets 90 cities by 2026
Rajeev Menon, APEC President of Marriott International, says India is a cornerstone of the company's global strategy. They plan to double their presence in the country by next year, expanding into 90 cities. The company sees strong potential in India's rising middle class, secondary and tertiary cities, and growing religious and business travel. It is also leveraging AI to boost operational efficiency and expects robust demand heading into the summer travel season.
