Shree Naman Group has completed the acquisition of JW Marriott Bengaluru for Rs 16.11 billion and Crowne Plaza Pune for Rs 1.89 billion, taking its hospitality portfolio beyond Mumbai into two key business and hospitality markets.

The Rs 18 billion transaction was completed on 1 October 2026, within 30 days of approval by the National Company Law Tribunal (NCLT) on 3 September 2026, following a competitive bidding process.

The two hotels join the Group’s existing properties in Mumbai: Sofitel Mumbai BKC, Lemon Tree Hotel, Kalina BKC, and ibis Mumbai BKC. The portfolio now comprises five operating hotels across three cities, with approximately 1,000 rooms.

The Group plans to expand its portfolio to at least 2,500 rooms over the next five years through acquisitions and new developments. Its development pipeline includes approximately 650-700 rooms across three projects, comprising developments in Goa, a resort near Pavana Lake and an expansion of Sofitel Mumbai BKC.

JW Marriott Bengaluru overlooks Cubbon Park and is located close to UB City in the city’s central business district. Crowne Plaza Pune City Centre, on Bund Garden Road, offers access to key commercial districts and transport links. The Group sees opportunities to enhance both properties through improvements to accommodation, dining, wellness and events.

Harsh J Shah, Director, Shree Naman Group, said, “This acquisition marks an important step in our journey towards building a pan-India portfolio of world-class hospitality assets, building on our existing hotels in Mumbai and exciting developments underway. JW Marriott Bengaluru and Crowne Plaza Pune are well-established hotels in exceptional locations. Over the coming years, we see opportunities to enhance both properties and strengthen their appeal to business and leisure travellers, while continuing to expand our hospitality portfolio through strategic acquisitions and new developments.”

The Group will continue to pursue a dual growth strategy, combining acquisitions of operating hotels with greenfield developments on its existing land parcels and mixed-use projects, particularly in Mumbai. The strategy is aimed at expanding its hospitality portfolio and building a presence across key markets.