Prestige Hospitality Ventures Limited (PHVL), a wholly owned subsidiary of Prestige Estate Projects Ltd., is aiming to strengthen its presence in India’s rapidly growing hospitality sector. The company, which specializes in luxury, upper upscale, upscale, and upper midscale properties for both business and leisure travelers, plans to add 2,509 rooms to its portfolio through a mix of ongoing and upcoming projects.
The planned expansion includes three ongoing projects totaling 951 keys and nine upcoming projects adding 1,558 keys, thereby positioning Prestige Hospitality as one of the largest private hotel asset owners and developers in South India by total room count. Moreover, through this growth, PHVL aims to establish a strong footprint in key demand hubs—Bengaluru, Delhi, Goa, Hyderabad, Sakaleshpura, Chennai, and Mumbai—which together account for a significant share of India’s hotel inventory and air traffic.
As of December 31, 2024, Prestige Hospitality comprises seven operational properties with a total of 1,445 keys, including one currently undergoing renovation. These include prominent Bengaluru-based hotels such as Sheraton Grand (360 keys), JW Marriott Golfshire (301 keys), Conrad (285 keys), Techcloud–Moxy (128 keys), Tribute–Mulberry (102 keys), and Angsana Oasis Spa and Resort (79 keys). Additionally, the Marriott Executive Apartments at UB City, Bengaluru—featuring 190 keys—is currently under renovation.
PHVL strategically focuses its developments on India’s top 10 key hospitality markets, where strong business activity, tourism, and connectivity drive demand. In FY24, cities such as Mumbai, Delhi NCR, Bengaluru, Goa, Chennai, and Hyderabad collectively contributed to 59% of India’s air traffic and 46% of the total hotel key supply. PHVL’s location strategy is driven by identifying high-potential micro-markets, selected based on their proximity to airports, central business districts, major industrial zones, and popular tourist destinations.
Prestige Hospitality’s diverse portfolio spans convention center hotels, business hotels, extended-stay serviced residences, and golf resorts. The company has partnered with several prestigious hospitality brands, primarily from Marriott International, including St. Regis, Edition Hotels, W Hotels, JW Marriott, Sheraton, Autograph Collection, Tribute Portfolio, Moxy, Aloft, and Marriott Executive Apartments (currently under renovation). Additionally, PHVL collaborates with other global names such as Conrad by Hilton Worldwide and Angsana Resorts & Spa by Banyan Group.
As of December 31, 2024, PHVL holds the largest number of operating and pipeline keys within the Marriott-managed portfolio in India, accounting for 9% of Marriott’s total managed inventory in the country.
Prestige Hospitality’s has recently filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹2,700 crore through an Initial Public Offering (IPO). This move marks a significant step in the company’s growth journey as it looks to expand its footprint in India’s booming hospitality sector.
