Global asset manager Blackstone is reportedly eyeing acquisitions in India’s hotel sector, targeting properties such as the Chennai Hilton and a partially completed Marriott near Bengaluru airport. Each acquisition is expected to cost around Rs 300-400 crore, as per industry sources.
Blackstone has been expanding its presence in hospitality, recently filing for an initial public offering (IPO) through Ventive Hospitality, a joint venture with Panchshil Group, to raise Rs 2000 crore. Ventive Hospitality currently manages 11 properties operated by leading brands, including Marriott, Hilton, Minor, and Atmosphere.
According to sources, these potential acquisitions would complement Blackstone’s existing portfolio, though the deals may take some time to close.