SRI LANKA | Marriott has partnered with Ventive Hospitality for a landmark seven-hotel deal comprising 1548 keys across five brands.
Marriott International, Inc. announced it has signed an agreement with Ventive Hospitality to open seven hotels, as part of a portfolio deal comprising 1,548-keys across five brands. This includes multiple brand debuts with a Ritz-Carlton Reserve in Sri Lanka, Marriott Hotels & Resorts in Varanasi, Courtyard by Marriott in Mundra (Gujarat) and Moxy in Pune. Additionally, it will mark the third JW Marriott and second Moxy to open as part of a dual-branded property in Mumbai. A premier division of Panchshil Realty, Ventive Hospitality stands at the forefront as a visionary owner, developer and asset manager of luxury and business hotels and resorts. With a strong foothold in Pune and the Maldives, the company is recognised for curating remarkable experiences defined by landmark properties, sustainable practices, and strategic growth. All seven properties are anticipated to open in 2030.
The multi-deal agreement was signed by Rajeev Menon, President, Asia Pacific excluding China, Marriott International and Atul Chordia, Chairman and Executive Director, Ventive Hospitality Ltd. Ranju Alex, Regional Vice President, South Asia, Marriott International, Ranjit Batra, CEO Ventive Hospitality Ltd, Kiran Andicot, Senior Vice President, Hotel Development, Marriott International and Mr. Milind Wadekar, Executive Vice President, Finance and Investor Relations, Ventive Hospitality Ltd were also present to witness this exciting collaboration that will further expand the footprint of Marriotts presence in the Indian sub-continent.
“Our growth strategy focuses on being present wherever our guests are looking to travel. We are thrilled to work with Panchshil Realty and Ventive Hospitality, as we continue to meet the growing demand for luxury travel experiences and world-class hospitality services”, remarked Rajeev Menon, President, Asia Pacific excluding China, Marriott International.
“We are especially excited to have signed a Ritz-Carlton Reserve, which is expected to mark the brand’s debut in Sri Lanka. Today’s signed agreement underscores our long-standing relationship with Panchshil Realty, and we look forward to bringing these exciting projects to fruition.”
Commenting on the announcement, Atul Chordia, Chairman and Executive Director of Ventive Hospitality Ltd, said it was exciting to begin FY 2025-26 on a strong note, particularly as it is the first financial year post-listing.
“This signing 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 travellers, 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.”
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