Ventive Hospitality stock surges 4% as it expands partnership with Marriott International

Of the seven hotels, three hotels are being developed by Ventive Hospitality and its subsidiaries

Ventive Hospitality share price surged 4% on July 8 as it announced expansion of its strategic partnership with Marriott International, by signing management contracts for seven luxury, upper upscale and upscale hotels comprising 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.

The company also announced its plans to develop a hotel on its existing leasehold land in Mundra.

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 and Courtyard by Marriott (200 rooms) at Mundra.

"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,” said Atul Chordia, chairman and executive director of Ventive Hospitality.

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.

They will be transferred to the Company under a suitable arrangement that maximizes value for all stakeholders equitably, the company said in a statement.

“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,” said Chordia.

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 favourable demand-supply dynamics.

“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 world class hospitality services. We are especially excited to have signed the Ritz-Carlton Reserve, which is expected to mark the brand’s debut in Sri Lanka, said Rajeev Menon, president, Asia Pacific (excluding China), Marriott International.