Shree Naman Group Acquires JW Marriott Bengaluru and Crowne Plaza Pune in ₹1,800-Crore Deal

Shree Naman Group has expanded its presence in India’s hospitality sector with the acquisition of two established hotels in Bengaluru and Pune for a combined consideration of ₹1,800 crore. The transaction includes JW Marriott Bengaluru, acquired for ₹1,611 crore, and Crowne Plaza Pune, purchased for ₹189 crore.

Completed on October 1, 2026, the acquisition was finalised within 30 days of receiving approval from the National Company Law Tribunal (NCLT) on September 3, following a competitive bidding process.

The deal marks a significant expansion for the Mumbai-based group, taking its hotel operations into two major business destinations beyond its existing Mumbai portfolio. With the latest additions, Shree Naman Group now operates five hotels across Mumbai, Bengaluru and Pune, with a combined inventory of approximately 1,000 rooms.

Its existing portfolio includes Sofitel Mumbai BKC, Lemon Tree Hotel at Kalina BKC and ibis Mumbai BKC.

Expansion Beyond Mumbai

The Bengaluru and Pune acquisitions provide the group with access to two established corporate travel and hospitality markets. Both properties occupy central locations with proximity to major commercial districts, potentially strengthening their appeal among business travellers and leisure guests.

JW Marriott Bengaluru overlooks Cubbon Park and is located close to UB City, within the city’s central business district. The property’s location places it near important commercial, retail and business destinations.

Crowne Plaza Pune City Centre, situated on Bund Garden Road, offers access to Pune’s key commercial areas and transport connections. Its central location makes it an established hospitality destination for corporate visitors and other travellers.

The group sees opportunities to improve both hotels through enhancements to guest accommodation, dining facilities, wellness offerings and event infrastructure.

2,500-Room Target Over Five Years

Beyond the latest acquisitions, Shree Naman Group is targeting a hotel portfolio of at least 2,500 rooms over the next five years. Its expansion strategy combines strategic acquisitions with new hotel developments.

The development pipeline currently includes approximately 650–700 rooms across three projects. These include developments in Goa, a resort near Pavana Lake and an expansion of Sofitel Mumbai BKC.

The latest transaction signals the group’s intention to build a broader presence in India’s hospitality market, where established business destinations continue to attract investment in hotels and premium accommodation.

Harsh J Shah, Director of Shree Naman Group, said the acquisitions represent an important step towards building a pan-India hospitality portfolio. He indicated that the group intends to strengthen the properties while continuing to explore opportunities for expansion.

With its presence now extending across three major cities, the group is positioning itself for a larger role in India’s organised hospitality market. Its ability to integrate the newly acquired properties and deliver the planned expansion will be important in achieving its 2,500-room target.