Ventive Hospitality Ltd News
Ventive Hospitality to acquire 76% stake in Hilton Goa Resort owner
Ventive Hospitality will acquire a 76 per cent stake in Soham Leisure Ventures, owner of Hilton Goa Resort, in a Rs 320 crore deal marking its entry into the leisure hospitality market
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Ventive Hospitality to acquire 76% stake in Hilton Goa owner Soham Leisure
Pune-based Ventive Hospitality on Friday said it plans to acquire 76 per cent stake in Soham Leisure Ventures, which owns 104-key Hilton Goa Resort and a land parcel in Goa. This transaction, valued at around Rs 320 crore, is an important step in Ventive's plan to double its room portfolio and invest in opportunities that add value, the company said in a statement. Further explaining the investment, the company said it proposes to enter into definitive agreements with Soham for an initial cash outlay of Rs 120 crore for the 104-key resort with development potential for an additional 60-65 rooms on the existing site and a 4-acre land parcel in Goa, earmarked for branded villas with an estimated gross sale value of over Rs 100 crore. The proceeds from villa sales are expected to strengthen the company's cash flows further, it added. "The Hilton Goa Resort acquisition is a landmark for Ventive, marking our foray into the leisure market in Goa. This move reinforces our commitment to ..
 "Ventive Hospitality to acquire 76% stake in Hilton Goa owner Soham Leisure")
Indian Hotels, ITC rally upto 3% in weak market; brokerages see more upside
Demand for luxury hotels will continue in India, with strong demand from domestic leisure travel and higher demand from improving foreign tourist arrivals
 "Indian Hotels, ITC rally upto 3% in weak market; brokerages see more upside")
