Ventive Hospitality's Strategic Acquisition of Hilton Goa Resort

Ventive Hospitality, based in Pune, announced plans on Friday to acquire a 76% stake in Soham Leisure Ventures. This company owns the 104-key Hilton Goa Resort and additional land in Goa. The Rs 320 crore transaction is a key step in Ventive's strategy to expand its room portfolio.

The acquisition involves an initial cash outlay of Rs 120 crore. The purchase includes the 104-room hotel with development potential for 60-65 more rooms on the existing site and a 4-acre land parcel. This land is designated for branded villas, estimated to generate sales over Rs 100 crore.

Atul Chordia, Ventive Hospitality Chairman, sees this acquisition as a pivotal move into Goa's leisure market. CEO Ranjit Batra adds that it reflects Ventive's strategy to enter markets with long-term demand potential. The acquisition emphasizes Ventive's commitment to broadening its business and leisure portfolio while ensuring prudent capital investment.

(With inputs from agencies.)