Ventive Hospitality Ltd—a listed hotel development and management company backed by Panchshil Group and Blackstone—plans to add six new hotels in collaboration with Marriott International across India over the next five years.
The upcoming properties will be located in Varanasi (Uttar Pradesh), Mundra (Gujarat), Pune, and Navi Mumbai (Maharashtra), adding approximately 1,600 rooms to Marriott’s India portfolio.
Currently, Marriott operates 142 hotels in the country, managing more than 25,500 rooms. It also includes 16 ITC Hotels in its broader distribution network. Previously, the company told that it aims to expand its presence to 50,000 rooms in India within the next five years.
Ventive Hospitality, which went public in December last year, currently owns all hotel assets of Panchshil and Blackstone across India and the Maldives, totaling 11 hotels. As part of its partnership with Marriott International, the company will add six new properties to its portfolio.
Out of the six, Ventive will directly own two hotels—a 161-room property in Varanasi and a 200-room hotel in Gujarat. The remaining four, including one JW Marriott and three Moxy-branded hotels in Navi Mumbai and Pune, will be developed by its promoter group, Panchshil, on leased land. Once completed, Ventive will have the option to acquire these properties through a pre-agreed commercial arrangement.
Looking ahead, Ventive aims to double its owned room inventory to over 4,000 in the next five years, with a planned investment of approximately ₹2,500 crore. The company also intends to acquire additional hotels to boost its portfolio.
Marriott International continues to expand its presence in India with a diverse portfolio of 18 hotel brands currently operating in the country. Rajeev Menon, Marriott’s President for Asia Pacific (excluding China), told that around 60% of Marriott’s hotel partners in India have signed agreements for multiple properties, reflecting the company’s strong and long-standing relationships with several ownership groups. Marriott currently manages five hotels owned by Panchshil.
Ventive Hospitality, one of Marriott’s key partners, projects its annual EBITDA from existing properties to rise from ₹1,000 crore to ₹1,350 crore over the next five years. Additionally, its upcoming hotels are expected to contribute another ₹500–600 crore per year once fully operational.
Ventive stated that it will primarily fund its expansion into new hotels using profits generated from its existing properties in India and the Maldives. To bridge any short-term funding gaps, the company plans to raise capital through debt.
“This partnership with Marriott not only strengthens our two-decade-long relationship but also marks a pivotal moment in our journey to redefine India’s hospitality sector,” said Atul Chordia, chairman and executive director of Ventive Hospitality Ltd in a statement.
Ventive currently owns 11 hotels across India and the Maldives and collaborates with other hospitality brands such as Minor Hotels and Atmosphere Hotels. In addition to expanding its footprint in India, the company is also developing a Ritz-Carlton Reserve property in Pottuvil, located on the east coast of Sri Lanka.
