Ventive Hospitality shows how luxury hotels can build value through purpose, performance, and long-term resilience
In twelve months as a publicly listed company, Ventive Hospitality crossed ₹1,000 crore in EBITDA, reduced debt by nearly half, planted coral gardens in the Maldives, restored food security across eight island communities, and placed Pune’s luxury dining on coveted award lists. It has been a year of scale, discipline, and conviction, shaped by one belief: profit and purpose can grow together.
In December 2024, when Ventive Hospitality rang the bell on the Bombay Stock Exchange and National Stock Exchange, the moment carried more weight than a market debut. After years of quietly building one of India’s most profitable hotel portfolios, spanning Maldivian lagoons and Pune’s skyline restaurants, Ventive stepped into public view.
Revenue crossed ₹2,000 crore. EBITDA touched ₹1,012 crore. Net debt fell by nearly ₹1,400 crore. Behind the numbers sat a larger story of ownership, resilience, community, environmental responsibility, and the luxury hospitality platform Ventive has always intended to become.
Great hotels should not cost the earth
Luxury hospitality reveals its character long before the first guest arrives. The real choices are made in planning rooms, selecting locations, building supply chains, shaping employment practices, and deciding how deeply a hotel belongs to its surroundings.
Ventive Hospitality was built on the conviction that great hotels should not cost the earth, literally or figuratively. Across decades, the company has shaped a portfolio where luxury and accountability work in close conversation.
Backed by Panchshil Realty with 56% and Blackstone with 33%, Ventive rests on a clear premise: true luxury hospitality requires ownership, alongside management. In a sector where many listed peers follow fee-driven operating models, Ventive takes hands-on positions in its assets. That gives it the full upside of repositioning, refurbishment, and revenue optimisation.
The Panchshil ecosystem gave Ventive a distinctive edge through hotels located within large mixed-use developments, business parks, retail precincts, and residential communities that generate organic demand.
JW Marriott Pune and The Ritz-Carlton Pune, therefore, operate as anchors of larger destinations, drawing corporate travellers, banquet guests, and local diners with equal strength.
Ventive commands roughly 64% of Pune’s luxury room inventory, giving it an unmatched ability to set rates in a city that has emerged as one of India’s most dynamic GCC hubs.
Today, Ventive operates 13 hotels and 3 resorts across India, the Maldives, and counting. The portfolio has 2,199 keys, with 1,382 more in a committed pipeline.
Its brands read like a global luxury map: The Ritz-Carlton, JW Marriott, Conrad, Anantara, Soho House, Hilton, Aloft, and Raaya by Atmosphere, its own Maldivian jewel. The difference lies in how these assets are owned, improved, operated, and connected with natural, human, and financial capital.
Not a cyclical hotel trade. A compounding platform.
FY25 proved the Ventive model at scale. Consolidated revenue reached ₹2,160 crore. EBITDA reached ₹1,012 crore. EBITDA margin held at 47%, the highest in India’s listed hospitality sector, and among the strongest across global hospitality platforms.
Indian hospitality grew EBITDA by 31% year-on-year. International hospitality, led by the Maldives, grew by 38%. Combined hospitality EBITDA growth of 34% was the strongest in the industry.
Those numbers draw strength through operating leverage. Occupancy improved by 4 percentage points across the portfolio. Total Revenue Per Available Room, or TRevPAR, stood at ₹23,000, among the highest in the country. The annuity portfolio also gives the company a stabiliser across hospitality cycles.
Growth has moved through acquisitions and signings as well. In year one, Ventive acquired a 76% stake in Hilton Goa for ₹246 crore and signed seven new hotels across India and Sri Lanka in partnership with Marriott International.
The committed pipeline of 1,382 keys includes an AC by Marriott in Bengaluru, a Marriott in Varanasi, the first branded luxury hotel in India’s spiritual capital, and a Ritz-Carlton Reserve in Sri Lanka by ROFO. No equity dilution is planned for operations. The longer-term target remains clear: 4,000 plus keys and ₹4,000 crore in EBITDA by FY30.
When you take care of your associates, they take care of everything else
Ask Ranjit Batra what gives him the greatest pride in Ventive’s first listed year, and the answer begins with people.
Across three decades in luxury hospitality, building, repositioning, and running some of India’s most celebrated hotel assets, Batra has shaped a philosophy rooted in direct experience that the quality of a guest’s stay reflects the quality of the workplace created for the people serving that guest.
In year one, Ventive acted on that belief. New salary benchmarks were implemented across the Marriott Hotels in Pune, signalling a deliberate investment in retention, morale, and service culture. In an industry where attrition often runs at 30 to 40% annually, trained and motivated associates directly influence service consistency, brand standards, and repeat guest loyalty that sustains premium ADR across cycles.
Ventive also strengthened its leadership bench. The appointment of Mayur Tiwari as Associate Vice President for Food & Beverage and Culinary brought 18 years of international experience, including The Ritz-Carlton Pune, JW Marriott Singapore, Grand Hyatt Seoul, and JW Marriott Hanoi. His mandate covers F&B strategy, concept development, and team mentorship across all properties. The appointment signals Ventive’s intent to professionalise its culinary ambitions with the same rigour applied to financial performance.
Batra has also spoken about redesigning the owner-operator framework. He believes ESG metrics and human capital indicators, including attrition rates, training investment, and service quality scores, should sit inside performance-linked fee structures. The aim is alignment around financial outcomes, responsible ownership, and enduring hospitality platforms. Every associate becomes a direct participant in the guest experience.
Prosperity and purpose, coexisting seamlessly
40 metres below the surface of the Indian Ocean, off the western coast of the South Ari Atoll in the Maldives, coral fragments are growing back into reefs. There are 14,455 of them, carefully collected, nurtured, and replanted by Ventive’s teams and conservation partners. Coral may grow a centimetre a year. The process is slow, delicate, and deeply consequential.
At Raaya by Atmosphere, 693 kilowatts of solar infrastructure powers all 277 villas, reducing diesel dependence and cutting the carbon footprint by significant tonnes annually. Across the portfolio, 70 to 80% of energy at flagship properties comes from renewable sources. Single-use plastics have been eliminated entirely. Biogas systems and community hydroponics together reduce CO₂ emissions by more than 1,700 tonnes every year. Conrad Maldives Rangali Island is one of only two PADI Eco Centres across the Maldives archipelago.
The community hydroponics programme at Conrad Maldives captures Ventive’s approach with particular clarity. Launched in 2015 and significantly expanded in 2025, it introduced soil-free hydroponic farming systems across eight inhabited islands in the South Ari Atoll.
In April 2025, Conrad Maldives renovated and expanded the original garden at Dhigurah School. The upgraded site now has 346 vegetable slots and a modern fertigation system, producing fresh vegetables all year in an environment where arable land is almost non-existent, and food imports remain a constant vulnerability.
The resort’s own on-site hydroponic garden produces over 1,200 kilograms of lettuce annually, along with herbs, bananas, and aloe vera, used in guest dining and spa operations. The result is a supply chain with shorter movement, lower dependence, and deeper local relevance.
“This isn’t about checking boxes. It’s about accountability. The planet is our greatest treasure, and protecting it is non-negotiable. Luxury and sustainability belong together.”
— Ranjit Batra, CEO, Ventive Hospitality
In India, that commitment takes another shape. The Ritz-Carlton Pune and JW Marriott Pune jointly contributed ₹23.29 lakh to a home supporting and educating children affected by leprosy, as part of a structured Rising Star outreach programme. Ventive’s sustainability practice therefore moves across carbon, coral, food security, education, and community support.
There is a strategic logic here as well as moral clarity. Ventive is building future resilient assets in climate-sensitive destinations. In the Maldives, the reef is the reason guests arrive. Freshwater supply is limited. Neighbouring island communities provide workforce, supplies, and cultural depth. Their resilience supports the long-term viability of the assets themselves. Responsibility, in this model, becomes a condition for lasting profit.
Seventy plus food and beverage offerings. One philosophy. Food is the story.
In many hotel companies, food and beverage feeds resident guests, fills hours between check-in and checkout, and generates 20 to 25% of revenues when managed well. In Ventive’s flagship India properties, F&B generates 40 to 50% of total revenues. That single statistic reveals the power of the model.
Ventive’s restaurants have become destinations in their own right. Paasha, the pioneer of rooftop dining in India, sits on the 24th floor of JW Marriott Pune with North West Frontier cuisine and panoramic city views. Its stature is clear: Paasha was named among Marriott Bonvoy’s Top 52 restaurants and bars across Asia Pacific.
Ukiyo at The Ritz-Carlton Pune earned a place on India’s Top 50 restaurants in 2024 for its modern Japanese precision. Four Ventive restaurants occupy four of Pune’s top five TripAdvisor rankings. Ithaa Undersea Restaurant at Conrad Maldives, the world’s first all-glass undersea restaurant, ranks in the top 1% of dining destinations globally and was named among 25 One of a Kind venues worldwide by TripAdvisor’s Travellers’ Choice 2025.
Approximately 80% of footfall at Ventive’s India restaurants comes through local residents and walk-in guests, rather than hotel occupants. The restaurants have earned city loyalty. In the first quarter, even as seasonal patterns usually soften, India’s F&B revenues matched the strong end-of-quarter performance.
At Anantara Maldives, the Around the World Michelin Star Guest Chef Series has welcomed celebrated culinary names, including Melvin Chou, Oli Marlow, Victor Liong, Arnaud Dunand Sauthier, Ricki Weston, and three Michelin-starred Chef Jungsik. Conrad Maldives holds a Forbes 4 Star rating. Soho House Mumbai carries a Michelin Key. The Hospitality Horizon Epicurean Awards 2025 gave three stars each to Aasmana, Ukiyo, Paasha, and Alto Vino.
Behind these accolades sits a culture of culinary ambition. The Ventive Crown, its annual in-house culinary competition across properties, serves as a talent development platform and a statement of values. Chefs here are artists, mentors, and storytellers. Their work builds memory, repeat patronage, and identity across a growing portfolio.
Every sunrise promises not only beauty, but balance
On a school island in the South Ari Atoll, children tend a hydroponic garden their grandparents could never have pictured. Forty metres below the ocean nearby, coral grows back toward the light. On a rooftop in Pune, a restaurant that helped invent skyline dining in India fills again for Sunday brunch. In a Bengaluru tech park, a hotel conversion is taking shape for a new generation of travellers seeking design, soul, and sustainability in the same room. In Sri Lanka, along a coastline of extraordinary beauty, a Ritz-Carlton Reserve is being designed around ultra-luxury hospitality, residences, wellness, and place.
Each of these stories carries the same signature. Ventive decided early that the way hotels are built matters as much as the hotels themselves. Communities become partners. A reef becomes a living system, a responsibility, and a reason for travel. A chef becomes a storyteller whose work may outlast any campaign.
“Ventive is not merely a hotel operator; it is a disciplined, ownership-led, luxury hospitality platform with embedded resilience and a credible compounding path.”
— Ranjit Batra, CEO, Ventive Hospitality
One year in, the blueprint has become the benchmark. And the coral, quietly, keeps growing.
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