Advent Hotels International shares listed on bourses after demerger from Valor Estate

New Delhi, Nov 13 (PTI) Advent Hotels International Ltd, which has been demerged from realty firm Valor Estate Ltd, has listed its equity shares and started trading on stock exchanges BSE and NSE.

Advent Hotels International now operates independently with a focused strategy for developing, owning, and managing hotel assets across India, Valor Estate said in a regulatory filing.

It currently operates two marquee hotels - a 313-key Grand Hyatt-flagged property in Bambolim, Goa (with an additional 113 keys under development), and a 171-key Hilton-branded property in Mumbai's Andheri East.

The shares of the company got listed at a premium of Rs 310 apiece on the BSE and later jumped 5 per cent to Rs 325.45 apiece, which was its upper circuit and also the closing price for Thursday.

The discovery price was Rs 264.50 per share, as per the BSE data.

On the NSE, the shares were listed at Rs 313 apiece, at par with the discovery price of Rs 312.70. The shares on NSE closed at Rs 328.65 per share.

"The listing of Advent Hotels International reinforces our commitment to building an institutionally governed and capital-efficient hospitality platform. We are committed to building a lean, operationally excellent hotel platform that is maniacally focused on long-term shareholder value creation," Arshad Balwa, Promoter Director of Advent Hotels International Ltd, said.

The company is expanding its portfolio through strategic partnerships and joint ventures, including two upcoming hotels at Aerocity, Delhi - St. Regis and Marriott Marquis, which are being developed in partnership with Prestige Group and are expected to open in FY27.

The upcoming portfolio also features the Waldorf Astoria and Hilton at Worli, Mumbai, as well as a 1,175-key hotel at BKC, Mumbai.

With five projects under development, the company is on track to expand to 3,100 keys.

Further, the company will develop its 5.4-acre Sahar (Andheri East, Mumbai) parcel into 1.50 million sq ft hospitality-led integrated project (around Rs 4,500 crore gross development value) through its joint venture firm Advent Convention & Hotels International Ltd.

Advent Hotels and Prestige Group will hold equal economic interests. PTI MJH HG MJH SHW