M&A

M&A

Shree Naman Group wins bids for hotels JW Marriott Bengaluru, Crowne Plaza Pune at Rs.1,800-Cr

Mint   JW Marriott Bengaluru   Crowne Plaza Pune  

Mumbai-based Shree Naman Group has won bids for the JW Marriott Bengaluru and the Crowne Plaza Pune , at an enterprise value of about INR 1,800 crore. The transactions were conducted under the corporate insolvency resolution mechanism for the Advantage Raheja Group properties. The group has submitted performance guarantees totalling INR 180 crore via bank guarantees to support the bid.The JW Marriott Bengaluru is owned by Gstaad Hotels, while the Crowne Plaza Pune is owned by Neo Capricorn Plaza. Both were admitted to the insolvency resolution process by the National Company Law Tribunal (NCLT) in July 2025 following defaults on debt payments.Shree Naman Group, which operates the Sofitel Mumbai BKC and Ibis Mumbai BKC, intends to retain full ownership of the two hotels.