Ventive Hospitality to open six hotels with Marriott in India by 2030 | Company Business News

New Delhi: Panchshil group and Blackstone-backed Ventive Hospitality Ltd, a listed hotel development and management business, will add six new hotels to its portfolio in partnership with Marriott International over the next five years in the country. 

The properties will be added in Varanasi, Uttar Pradesh; Mundra, Gujarat; Pune, and Navi Mumbai, Maharashtra, the company said in an announcement. This will add 1,600-odd rooms to the American hospitality major’s India portfolio. 

At present, Marriott has 142 hotels in India and it manages over 25,500 rooms. It also has another 16 properties of ITC Hotels in its portfolio. These are part of its distribution network. Marriott had earlier told Mint it would scale to 50,000 rooms over the next five years.

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Ventive listed on the stock exchange in December last year and currently owns all hotel assets of Panchshil and Blackstone across India and the Maldives, which span 11 hotels. The new hotel pipeline of six properties with Marriott will include two hotels owned by Ventive—a 161-room property in Varanasi and a 200-room hotel in Gujarat. 

Another four– one JW Marriott and three Moxy branded hotels in Navi Mumbai and Pune– will be built by the company’s promoter group Panchshil on leased land. Later, Ventive will have the option to acquire these properties from it under a pre-agreed commercial arrangement after they are ready. 

Overall, Ventive said it had plans to double the number of hotel rooms it owns to more than 4,000 over the next five years at an estimated investment of about ₹2,500 crore. The company also plans to buy hotels to add inventory.

Multi-property hotel owners

Marriott International has been aggressively scaling up its hotel management business in India. Last month it acquired a minority stake in Chaudhary group-owned Concept Hospitality, which operates brands like the Fern Hotels and Resorts, to launch a new hotel brand Series by Marriott. 

Marriott International continues to expand its footprint in India through a range of brands, 18 of which are in India.

Marriott International’s Asia Pacific president, excluding China, Rajeev Menon, told Mint that of its entire hotel portfolio in India, about 60% companies have more than one hotel signed with them, and the company has long-lasting associations with several hotel ownership companies. It also currently operates five hotels owned by Panchshil.

Ventive expects yearly earnings before interest, taxes, depreciation, and amortization (Ebitda) from its existing hotels to grow from ₹1,000 crore to ₹1,350 crore over the next five years. New hotels are expected to bring in an additional ₹500–600 crore per year once they are fully operational. 

Most of this growth into new hotels, it said, will be funded through profits generated by its existing hotels in India and the Maldives, Any short-term funding gaps, the company said, will be covered 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 works with other companies like Minor Hotels and Atmosphere Hotels. Besides adding to its India portfolio, Ventive is developing a Ritz-Carlton Reserve property in Pottuvil, on Sri Lanka’s east coast.

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India has about 200,000 branded hotel rooms and it is expected to reach 300,000 by 2030, according to consultancy Horwath HTL. 

Last month, ratings agency Icra revised its outlook for the hospitality sector from positive to stable, anticipating more moderate growth in FY26 after three consecutive years of strong performance. It expects revenue growth to stay at 6-8% due to the high base effect following the post-pandemic surge, with overall hotel performance likely to remain steady.

Premium hotel occupancy is expected to remain strong at 72-74% in FY26, slightly up from the 70-72% levels seen in FY24 and FY25. Average room rates are also likely to rise marginally to ₹8,200-8,500, from ₹8,000-8,200 in FY25, as hotel supply remains tight amid limited new additions and ongoing renovations across several properties.