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IPO-bound Ventive Hospitality to buy, develop hotels as temple tourism rises

Livemint

Livemint · 8m ago

IPO-bound Ventive Hospitality to buy, develop hotels as temple tourism rises

Ventive Hospitality, a joint venture between Panchshil Realty and Blackstone, plans to expand its hotel business in India to take advantage of increasing leisure travel and temple tourism. The company, which owns luxury hotels such as Ritz Carlton Pune and Aloft Bangalore, aims to expand through acquisitions and new developments. It is set to raise INR 1,600 crore ($214 million) through an initial public offering, with the proceeds primarily used to reduce debt. Ventive Hospitality currently operates 11 hotels in India and the Maldives, with three more under development. Temple tourism accounts for 30% of India's travel and tourism sector.

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Blackstone-backed Ventive Hospitality trims IPO size, targets $1.77 bn valuation

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VCCircle · 8m ago

Blackstone-backed Ventive Hospitality trims IPO size, targets $1.77 bn valuation

Blackstone-backed Ventive Hospitality has adjusted the size of its initial public offering (IPO) as it aims for a valuation of $1.77 billion. The IPO will make Ventive Hospitality the fourth-largest hotel chain in India based on market capitalization. The offering, which features only newly issued shares, is set to open on Friday and is supported by private equity firm Blackstone.

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Livemint · 1y ago

EaseMyTrip, Jeewani Group partner with Radisson Hotel Group to build hotel in Ayodhya

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Economic Times

Economic Times · 1y ago

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Grapevine: Blackstone JV plans IPO; Pernod Ricard may sell whisky brand

VCCircle

VCCircle · 11m ago

Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, is reportedly planning an initial public offering (IPO). The company intends to raise about Rs 2,500 crore through a fresh share issue. JM Financial and Kotak Mahindra Capital have been appointed to manage the IPO process. Additionally, Pernod Ricard may sell its whisky brand, further signaling possible changes in the alcohol industry.

Interim Budget: Startups see big opportunity as tourism takes centre stage

Inc42 · 1y ago

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Indian startups in the travel, tourism, and hospitality sector are optimistic about expanding their user base and offerings following the Indian government's focus on promoting tourism. Finance Minister Nirmala Sitharaman announced plans to develop tourist centers, improve port connectivity, and enhance amenities on Indian islands. The government has increased the budget for the tourism industry by over 40% to INR 2,449.62 crore for FY25. Startups anticipate a surge in tourist numbers and believe the announcements will unlock India's tourism potential and boost the hospitality sector.

Ventive Hospitality and Marriott International expand partnership with 1548 rooms across 7 hotels

Economic Times

Economic Times · 1m ago

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Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

VCCircle

VCCircle · 1y ago

Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

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This hotel chain doubles down on spiritual tourism, luxury & metro hubs

Livemint

Livemint · 5m ago

This hotel chain doubles down on spiritual tourism, luxury & metro hubs

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IPO-bound OYO’s profit doubles QoQ to INR 30 Cr in Q3 FY24: CEO Ritesh Agarwal

Inc42 · 1y ago

IPO-bound OYO’s profit doubles QoQ to INR 30 Cr in Q3 FY24: CEO Ritesh Agarwal

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Retailers flock to religious destinations for new avenues of success

Livemint

Livemint · 1y ago

Retailers flock to religious destinations for new avenues of success

Large retailers are expanding their presence in religious destinations in India due to increased tourism and improved infrastructure. Retail brands across various segments, including fashion, food, and electronics, are tailoring their offerings to cater to the needs of pilgrims. This trend benefits both the retail industry and spiritual tourism, with cities like Amritsar, Varanasi, and Ayodhya witnessing significant growth. Enhanced connectivity and access to these destinations, along with online retail platforms, are further driving this retail boom. Hospitality companies are also capitalizing on the demand by opening new hotels in these cities.

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