Summary:
- Ventive Hospitality entered management contracts with Marriott International for seven hotels with 1,548 rooms in India and Sri Lanka.
- The deal includes brand debuts in Sri Lanka, Varanasi, Pune, Navi Mumbai and Mundra, with plans for a hotel on Ventive’s leasehold land in Mundra.
- Three properties involve capital expenditure of Rs 700 to 750 crore and are on Ventive’s balance sheet.
VENTIVE HOSPITALITY ENTERED management contracts with Marriott International for seven hotels totaling 1,548 rooms in India and Sri Lanka, all scheduled to open in 2030. The partnership will increase Ventive’s portfolio from 11 hotels in India and the Maldives with 2,000 keys to more than 4,000 keys in four to five years.
The partnership includes brand debuts in Sri Lanka, Varanasi, Pune, Navi Mumbai and Mundra, the statement said. Ventive also announced plans to develop a hotel on its leasehold land in Mundra.
Three properties are being developed by Ventive and its subsidiaries: Ritz-Carlton Reserve near Yala East National Park in Sri Lanka with 73 villas and 80 branded residences under LOI; Varanasi Marriott Hotel with 161 rooms and Courtyard by Marriott in Mundra with 200 rooms.
Ventive, part of Pune-based Panchshil Realty, is led by Chairman and Executive Director Atul Chordia and CEO Ranjit Batra.
“This partnership not only strengthens our two-decade relationship with Marriott International but also marks a pivotal moment in our journey to redefine India’s hospitality sector,” said Chordia. “By leveraging Marriott’s global expertise and our real estate knowledge, we aim to create destinations that elevate guest experiences for both business and leisure travellers.”
Four additional hotels—JW Marriott Navi Mumbai with 450 rooms, Moxy Navi Mumbai with 200 rooms, Moxy Pune Wakad with 264 room and Moxy Pune Kharadi with 200 rooms—are being developed by Promoter Group companies under right of first offer or other transfer mechanisms aligned with Ventive’s portfolio strategy.
“Three properties involve capital expenditure of about Rs 700 to 750 crore and are on Ventive’s balance sheet,” said Milind Wadekar, Ventive’s executive vice president for finance and investor relations, in a PTI report. “The other four are being developed by group companies and will be brought in under a suitable structure, such as long-term lease, purchase, or ownership share.”
Rajeev Menon, Marriott’s president for the Asia Pacific (excluding China), said the company is working with Ventive to meet growing demand for luxury travel and hospitality services.
“We are especially excited to have signed the Ritz-Carlton Reserve, which is expected to mark the brand’s debut in Sri Lanka,” he said.
In April, Marriott International launched Marriott Media, a network that connects brands to guests using first-party data from its Bonvoy program.
