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Prestige Estates gained 4.5% after its hospitality arm, Prestige Hospitality Ventures (PHVL), raised ₹3,000 crore from Canada Pension Plan Investment Board (CPP Investments) in exchange for a 27% stake.
PHVL owns luxury and premium hotels across India and is developing properties in Bengaluru, Chennai, Delhi, Goa, Hyderabad and Mumbai.
The details: PHVL shelved its IPO plans amid uncertain market conditions and other factors. It now plans to use most of the capital raised to fund its expansion.
FYI: This is CPP Investments’ first direct investment in India’s hospitality sector.
What matters: CPP Investments is betting on rising travel and demand for quality accommodation in India. The investment gives it exposure to the sector’s long-term growth through PHVL’s hotel portfolio.
Big theme: investor interest in India’s hospitality sector is growing. According to JLL’s Hotel Investment Trends in India 2025 report, hotel investments rose 67% year on year to ₹4,933 crore across 28 transactions in 2025.
India’s tourism and hospitality sector is projected to reach nearly $60 billion by 2028, while spending by domestic and international travellers is expected to triple by 2034.
