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The company has signed contracts with Mariott International for seven luxury, upper upscale and upscale hotels comprising of 1,548 rooms across India and Sri Lanka, marking multiple brand debuts in key locations including Sri Lanka, Varanasi, Mundra, Pune, and Navi Mumbai. Of the seven hotels, three hotels are being developed by Ventive Hospitality and its subsidiaries, the RitzCarlton Reserve (73 villas along with 80 branded residences 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, 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 under a 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. Atul Chordia, chairman and executive director of Ventive Hospitality Ltd, said We're excited to begin FY 2025-26 on a strong note, particularly as it is our first financial year post listing. This partnership not only strengthens our two-decade-long relationship with Marriott International but also marks a pivotal moment in our journey to redefine India's hospitality sector. By leveraging Marriott's global expertise and our deep real estate knowledge, we aim to create distinctive destinations that elevate guest experiences for both business and leisure travelers, driving growth in the luxury and upper-upscale segments and expanding our footprint beyond Pune, Bengaluru, and the Maldives. This collaboration underscores our commitment to aggressive growth while maintaining prudent leverage.' Rajeev Menon, president, Asia Pacific (excluding China), Marriott International, said, 'Our growth strategy focuses on being present where our guests are looking to travel. We are thrilled to work with Ventive Hospitality, as we continue to meet the growing demand for luxury travel experiences and worldclass hospitality services. We are especially excited to have signed the Ritz-Carlton Reserve, that is expected to mark the brand's debut in Sri Lanka. Today's signed agreement underscores our long-standing.' Ventive Hospitality is an owner, developer and asset manager of luxury and upper upscale hotels in India and the Maldives. The hotels are operated by global brands like Marriott, Hilton, Minor and Atmosphere. The company's consolidated net profit surged 170.8% to Rs 127.88 crore on 461.9% jump in net sales to Rs 697.94 crore in Q4 FY25 over Q4 FY24. Powered by Capital Market - Live News |