In a significant strategic shift, Valor Estate Ltd is spinning off its hospitality business, with Advent Hotels International Ltd set to make its stock market debut as an independent entity on 13 November. This move marks a major diversification for the real estate developer into the high-growth hospitality sector.
A New Chapter in Hospitality
Advent Hotels will list directly on both the BSE and the National Stock Exchange, following its demerger from the publicly traded Valor Estate, formerly known as DB Realty. Under the demerger scheme, shareholders of Valor will receive one share of Advent for every ten shares of Valor they hold.
According to Shahid Balwa, Vice-Chairman and Managing Director of Valor Estate, this separation is designed to provide focused management and a clear capital structure for the hospitality venture. While Valor continues its core residential real estate business through partnerships, Advent will operate as a dedicated platform for developing and operating large-format hotel properties in prime locations via joint ventures.
Building a Luxury Portfolio
Advent Hotels is not starting from scratch. The company currently manages two operational properties: a 171-key Hilton hotel in Mumbai's Andheri East and a 313-room Grand Hyatt in Bambolim, Goa, which is currently adding another 113 keys to its capacity.
However, the company's ambitious expansion pipeline is what sets it apart. Its upcoming projects include:
- Two hotels at Delhi's Aerocity in partnership with Prestige Group: a Marriott Marquis and a St Regis, totaling 778 keys, expected to be operational by mid-2026.
- A Waldorf Astoria hotel with branded residences and a Hilton property in Mumbai's upscale Worli area, comprising 550 keys.
- A massive 1,175-key hotel project in Mumbai's Bandra Kurla Complex (BKC), potentially one of the largest in the financial capital, developed with L&T Realty.
The company's portfolio is on track to expand to 3,100 keys, with a focus on luxury and upper-upscale properties in central business districts.
Riding the Hospitality Wave
Advent's aggressive expansion comes at a time when India's branded hotel supply is experiencing rapid growth, yet demand continues to outpace new capacity. Rahul Pandit, Managing Director and Chief Executive of Advent Hotels, projects that the company's EBITDA, currently under ₹200 crore, will grow to over ₹660 crore as its new pipeline stabilizes by FY32.
This optimism is shared across the industry. According to the Hotelivate's Trends & Opportunities 2025 report, India's active development pipeline as of March 2025 stood at 114,151 rooms, with cities like Bengaluru, Mumbai, Jaipur, and Goa leading the charge.
Pandit also revealed that beyond the five confirmed new hotels, Advent is examining a fresh pipeline of projects, including inorganic growth opportunities via acquisitions in key metros and leisure destinations like Lonavala, where a large-format resort-style development is planned with Prestige Group.
The strategic listing of Advent Hotels represents a bold bet on the long-term growth of India's luxury hospitality sector, positioning the company to capitalize on the sustained imbalance between supply and demand.
