Shree Naman Group has completed the acquisition of JW Marriott Bengaluru for ₹1,611 crore and Crowne Plaza Pune for ₹189 crore, marking a major expansion of its hospitality business beyond Mumbai.
The group completed the ₹1,800-crore transaction on October 1, 2026, within 30 days of receiving approval from the National Company Law Tribunal (NCLT) on September 3, 2026, following a competitive bidding process.
With these acquisitions, Shree Naman Group has expanded its presence into two of India’s prominent business and hospitality markets. JW Marriott Bengaluru and Crowne Plaza Pune join its existing portfolio of Sofitel Mumbai BKC, Lemon Tree Hotel, Kalina BKC, and ibis Mumbai BKC.
Consequently, the group now operates five hotels across three cities, with approximately 1,000 rooms. It aims to increase its portfolio to at least 2,500 rooms over the next five years through strategic acquisitions and new developments.
Additionally, Shree Naman Group has a development pipeline of approximately 650–700 rooms across three projects. These include developments in Goa, a resort near Pavana Lake, and an expansion of Sofitel Mumbai BKC.
JW Marriott Bengaluru occupies a prime location overlooking Cubbon Park, near UB City in the heart of Bengaluru’s central business district. Meanwhile, Crowne Plaza Pune City Centre, situated on Bund Garden Road, offers convenient access to major commercial districts and transport links.
Both properties provide opportunities for the group to strengthen their market positioning through improvements to accommodation, dining, wellness facilities, and event offerings.
Harsh J Shah, Director, Shree Naman Group, said, “This acquisition marks an important step in our journey towards building a pan-India portfolio of world-class hospitality assets, building on our existing hotels in Mumbai and exciting developments underway. JW Marriott Bengaluru and Crowne Plaza Pune are well-established hotels in exceptional locations. Over the coming years, we see opportunities to enhance both properties and strengthen their appeal to business and leisure travellers, while continuing to expand our hospitality portfolio through strategic acquisitions and new developments.”
Going forward, Shree Naman Group plans to pursue a dual growth strategy that combines acquisitions of operational hotels with greenfield developments on its existing land parcels and mixed-use projects, particularly in Mumbai.
Through this approach, the group aims to accelerate its hospitality expansion, strengthen its presence in key Indian markets, and create long-term growth opportunities. Its latest acquisitions mark a significant step towards building a broader pan-India hospitality portfolio.
