Ventive Hospitality expands its partnership with Marriott International
Ventive Hospitality along with its Promoter Group Companies, announced the expansion of their strategic partnership with Marriott International, by signing management contracts for seven luxury, upper upscale and upscale hotels comprising of 1,548 rooms across India and Sri Lanka. This partnership marks multiple brand debuts in key locations including Sri Lanka, Varanasi, Mundra, Pune, and Navi Mumbai. Further, Ventive Hospitality also announced its plans to develop a hotel on its existing leasehold land in Mundra, India.
Of the seven hotels, three hotels are being developed by Ventive Hospitality and its subsidiaries - the Ritz Carlton Reserve (73 villas along with 80 branded residences1 for sale) at Pottuvil, near Yala East National Park in Sri Lanka; Varanasi Marriott Hotel (161 rooms) at Varanasi, India and Courtyard by Marriott (200 rooms) at Mundra, India.
The remaining four hotels - the proposed JW Marriott Navi Mumbai (450 rooms), Moxy Navi Mumbai (200 rooms), Moxy Pune Wakad (264 rooms) and Moxy Pune Kharadi (200 rooms), are being developed by the Promoter Group companies on Right Of First Offer (ROFO) or alternative structure basis for the Ventive Hospitality and will be transferred to the Company under a suitable arrangement that maximizes value for all stakeholders equitably.
This partnership, one of India's largest in the luxury and upper-upscale hotel sector, leverages the strength of Ventive Hospitality's project execution capabilities along with Marriott International's renowned brands and hotel management expertise. Both companies are poised to unlock significant growth opportunities by capitalizing on a favorable demand-supply dynamics.
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