HBI Staff | Hyderabad 
Global asset manager Blackstone is reportedly exploring acquisitions in India’s hotel sector, targeting properties such as the Chennai Hilton and a partially constructed Marriott near Bengaluru airport. Each property is valued between INR 300-400 crore. This move aligns with Blackstone’s positive outlook on the Indian hospitality industry. Recently, Ventive Hospitality—a venture jointly promoted by Blackstone and the Panchshil Group—filed for an initial public offering aiming to raise up to INR 2,000 crore through a fresh share issue. Ventive Hospitality currently manages 11 operational assets under prestigious brands, including Marriott, Hilton, Minor, and Atmosphere.
The 204-room Chennai Hilton, owned by the Empee Group and managed entirely by Hilton, is located close to the airport and was established in 2011. The hotel has reportedly faced cash flow challenges and struggled with debt obligations in recent financial years, including FY20, FY21, and FY22, as per CARE Ratings. The Empee Group had also reached a one-time settlement with Edelweiss Asset Reconstruction, agreeing to pay INR 205 crore, though only a portion of this amount has been settled.
The under-construction 217-room Marriott Hotel near Bengaluru airport is being developed by Twenty Fourteen Hotels India, a subsidiary of the Lulu Group. Although operations have not yet started, pending work remains to be completed. Sources indicated that the hotel has been listed for sale, with a valuation of around INR 400 crore. The Lulu Group holds a 20-year lease with Marriott for hotel management.
These potential acquisitions would strategically enhance Blackstone’s hospitality portfolio in India, reflecting its commitment to expanding its presence in the country’s growing hotel industry.
