CPP Investments Invests Rs 30 Billion in Prestige Hospitality Ventures

Canada Pension Plan Investment Board (CPP Investments) has announced an INR 30 billion (C$441 million) investment in Prestige Hospitality Ventures Limited (PHVL), the hospitality platform of Prestige Estates Projects Limited. The investment will give CPP Investments an approximately 27% stake in PHVL, with the majority of the capital allocated towards the platform’s expansion.

The transaction marks CPP Investments’ first direct investment in India’s hospitality sector. It also adds to its hospitality investments across the Asia Pacific region, including recent investments in Japan and Korea.

PHVL operates a portfolio of luxury and premium hotels across key gateway cities in India. The platform also has a development pipeline covering Bengaluru, Chennai, Delhi, Goa, Hyderabad and Mumbai.

Irfan Razack, Chairman and Managing Director, Prestige Group said, “Hospitality is an important part of Prestige’s long-term growth strategy, and we see significant opportunity to build a scaled, high-quality portfolio across India. We are pleased to welcome CPP Investments as a long-term partner in Prestige Hospitality Ventures. Their long-term investment approach complements our development capabilities and market understanding and together we look forward to creating a hospitality platform of scale while delivering distinctive experiences for our guests and long-term value for our stakeholders.”

Hari Krishna, Head of Real Estate India & Mumbai Office Head at CPP Investments, said, “We see compelling opportunities in India’s hospitality sector, driven by rising travel and a demand for quality accommodation. Prestige has built a strong portfolio of assets across India and benefits from a robust pipeline built up by its established real estate platform. This investment offers an opportunity to participate in the sector’s long-term growth through a well-positioned platform, while seeking to generate attractive risk-adjusted returns for CPP contributors and beneficiaries.”

The investment is expected to support PHVL’s continued expansion across its existing markets and development pipeline. For CPP Investments, the transaction establishes a direct presence in India’s hospitality sector through a platform backed by Prestige Group’s existing hotel portfolio and development pipeline.