Pune-based Ventive Hospitality to acquire 76% stake in Soham Leisure Ventures.
Soham owns the 104-key Hilton Goa Resort and a 4-acre land parcel in Goa.
Deal valued at ₹320 crore, with an initial cash outlay of ₹120 crore.
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 ₹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 ₹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 ₹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 building a diversified portfolio across business and leisure segments while maintaining capital discipline," Ventive Hospitality Chairman and Executive Director Atul Chordia said.
This acquisition reflects the company's strategy of selective expansion into high-barrier-to-entry markets with strong long-term demand, Ventive Hospitality CEO Ranjit Batra said.
