Ventive Hospitality, Marriott International ink pacts for 7 hotels with 1,548 rooms

Mumbai, Jul 8 (PTI) Ventive Hospitality and Marriott International on Tuesday signed management contracts for seven luxury, upper upscale and upscale hotels comprising 1,548 rooms across India and Sri Lanka, which are expected to be operational in 4-5 years.

This partnership marks multiple brand debuts in key locations including Sri Lanka, Varanasi in Uttar Pradesh, Pune, Navi Mumbai in Maharashtra and Mundra in Gujarat.

Further, Ventive Hospitality also announced its plans to develop a hotel on its existing leasehold land in Mundra.

"We're excited to begin 2025-26 on a strong note, particularly as it is our first financial year post-listing. By leveraging Marriott's global expertise and our deep real estate knowledge, we aim to expand our footprint beyond Pune, Bengaluru, and the Maldives. This collaboration underscores our commitment to aggressive growth while maintaining prudent leverage," Ventive Hospitality Chairman and Executive Director Atul Chordia told reporters at an event.

These projects are already on the ground, especially in Varanasi, Bangalore, Pune and a few will go up in the next two quarters, Chordia added.

This partnership with Marriott International will double the company's portfolio to over 4,000 keys in 4-5 years from the current 11 hotels (8 in India and 3 in Maldives) with 2,000 keys, Ventive Hospitality Executive Vice President, Finance and Investor Relations, Milind Wadekar said on the sidelines of the event.

When asked about the capex for these 7 properties with Marriott International Wadekar said, "Three properties have around Rs 700-750 crore capex, which are on Ventive balance sheet. And other four hotels are built by the group companies. And we will take it under suitable structure, whether it could be long-term lease, or outright purchase, or form share." Marriott International President, Asia Pacific (excluding China), Rajeev Menon said, India is strategically one of the important markets today around the world.

"We've been saying for a few years that in the next two to three years, Marriott, India specifically, will become the third largest country for Marriott out of our 144 countries that we operate in. 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. We are especially excited to have signed the Ritz-Carlton Reserve, which is expected to mark the brand's debut in Sri Lanka," Menon added. PTI SM HVA