Ventive, Marriott Ink Pact for 7 New Hotels

Blackstone and Panchshil group-backed Ventive Hospitality, a hotel asset management company, signed management contracts with Marriott International for seven luxury and upscale hotels in India and Sri Lanka, adding 1,548 rooms to its current portfolio of 2,036 rooms across 11 business and leisure hotels.

- ROSHNI SHEKHAR

Atul Chordia, chairman and executive director, Ventive Hospitality, told Business Standard that all these hotels would be operational in four years, with 200 to 250 rooms being added annually.

Ventive is also in talks with Marriott International to add another 400 to 500 rooms across different locations. These will be new hotels and are yet to be signed. Ventive Hospitality and Marriott International already have six operational hotels.

"We (Ventive Hospitality and Marriott International) are already in discussions about exploring new destinations like Dharamshala and Sindhudurg, which are unexplored markets," Chordia said.