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Mumbai-based Shree Naman Group has emerged as the successful bidder for two premium hotels- JW Marriott Bengaluru and Crowne Plaza Pune- in transactions valued at around INR 1,800 crore. The acquisitions, being pursued through separate insolvency resolution processes, will significantly expand the group’s hospitality footprint beyond its existing portfolio. While the bids have been accepted by creditors, the transactions remain subject to approvals under the ongoing insolvency proceedings before they are completed, making them among the notable hotel asset transactions in India’s hospitality sector this year.
Shree Naman Group has secured winning bids for two prominent hospitality assets- JW Marriott Bengaluru and Crowne Plaza Pune- in a combined transaction valued at approximately INR 1,800 crore, marking a significant expansion of its presence in India's premium hotel sector.
The acquisitions involve operating hotel properties undergoing insolvency resolution, allowing the Mumbai-based developer to add established hospitality assets rather than develop new properties from the ground up. The transactions represent one of the larger hotel acquisitions emerging from the country's corporate resolution framework in recent months.
The two hotels occupy strategically important business markets. Bengaluru continues to be one of India's largest technology and corporate travel destinations, while Pune has evolved into a major hub for manufacturing, information technology and business services. Acquiring operational hotels in these cities provides immediate access to markets where demand is supported by business travel, conferences and corporate events.
The acquisitions were finalised through separate insolvency resolution processes involving companies of the Advantage Raheja Group. During the process, creditors evaluated multiple proposals before selecting Shree Naman Group as the successful bidder for both properties. The transactions are expected to strengthen the group's hospitality portfolio while bringing new ownership to assets already operating under internationally recognised hotel brands.
Unlike greenfield hospitality developments, operational hotel acquisitions allow buyers to inherit functioning infrastructure, existing guest facilities and an established market presence. This approach can reduce the time required to generate revenue compared with building a hotel from the initial construction stage.
The deals, however, are yet to reach their final conclusion. Since both properties are being acquired through the insolvency framework, the transactions remain subject to judicial and regulatory processes associated with their respective cases. The Bengaluru property's resolution process involves proceedings before the Supreme Court, while matters relating to the Pune hotel continue before the National Company Law Tribunal. Final ownership transfer will therefore depend on the completion of these legal procedures.
The acquisitions also reflect a broader shift within India's hospitality market, where operational hotels have become attractive investment opportunities. Improving occupancy levels, stronger room rates and recovering travel demand have encouraged developers and investors to pursue existing hotel assets that already possess recognised branding and established customer bases.
For Shree Naman Group, the expansion complements an existing hospitality portfolio that includes luxury and business hotels across western India. The addition of properties in Bengaluru and Pune broadens the company's geographic presence and gives it exposure to two of the country's important commercial centres.
The transactions also demonstrate how India's insolvency resolution mechanism continues to facilitate ownership transitions for commercially viable hospitality assets. Rather than remaining tied up in prolonged financial distress, operating hotels are finding new investors capable of preserving business continuity while addressing creditor claims.
If the remaining approvals are secured, the acquisitions will significantly strengthen Shree Naman Group's hospitality platform and reinforce confidence in India's premium hotel investment market, where established operating assets continue to attract interest from developers seeking long-term growth opportunities.
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