Blackstone Nears Majority Stake in Ritz-Carlton Bengaluru

US-based global investment firm Blackstone is preparing to acquire a majority stake in the iconic Ritz-Carlton Bengaluru from Nitesh Land in a transaction that places the hotel’s valuation at more than ₹1,200 crore. This move marks one of the most significant hospitality investments of the year and adds another marquee asset to Blackstone’s fast-expanding portfolio in India.

According to industry sources, Blackstone is expected to pick up around 55 percent stake in Nitesh Residency Hotel, the entity that owns the Ritz-Carlton Bengaluru. The deal has reportedly been signed and is scheduled to conclude within the current quarter, subject to final approvals. As part of the transaction, the investment firm will pay an estimated ₹600 to ₹700 crore to the seller, further reinforcing the value of the 277-room luxury property.

Launched in 2014, the Ritz-Carlton Bengaluru is considered one of India’s finest independently owned five-star hotels operating under the Ritz-Carlton brand by Marriott International. The property occupies a prime location in the heart of Bengaluru and has consistently attracted premium business and leisure travellers. In FY25, the hotel recorded earnings of ₹105 crore before interest, taxes, depreciation and amortisation, highlighting its strong operating performance.

The acquisition aligns with Blackstone’s long-term strategy of building a diversified and high-quality hospitality platform in India. The firm has already invested in a series of hotel assets through its portfolio company, including those under the Vento Hospitality umbrella valued at around ₹18,000 crore. With this deal and a potential acquisition of JW Marriott Bengaluru also under discussion, Blackstone is poised to further strengthen its position in India’s luxury hotel segment.

Industry analysts say the transaction reflects broader global investor confidence in India’s premium hospitality market, which has witnessed a robust post-pandemic rebound driven by domestic tourism, corporate travel, and the sharp rise in meetings, conferences and exhibitions. With demand outpacing supply in major metros, high-end hotels remain a compelling investment opportunity.

The Ritz-Carlton deal is therefore expected to set a strong benchmark for future hospitality transactions in the country.