December 19, 2024
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Ventive Hospitality IPO Review
Ventive Hospitality is a leading hospitality asset owner, specializing in luxury offerings across both business and leisure segments. The company’s assets are operated or franchised by renowned global operators, including Marriott, Hilton, Minor, and Atmosphere. Its portfolio boasts prestigious properties such as JW Marriott, Pune, The Ritz-Carlton, Pune, Conrad Maldives, Anantara Maldives, and Raaya by Atmosphere Maldives.
These luxury assets contribute over 80% of the company’s pro forma revenue from hotel operations for FY24, FY23, and FY22. Notably, Ventive owns three luxury properties in the Maldives, a globally renowned destination consistently ranked among the top tourist island spots. The Maldives’ appeal as a high-demand, luxury hotel destination aligns perfectly with the company’s offerings.
Ventive’s Maldives resorts feature unique experiences, including the Muraka Suite, recognized as one of the greatest luxury hotel suites globally by the Robb Report. Additionally, Ithaa, an underwater restaurant, is reportedly the first of its kind in the world (Source: Horwath HTL Report). In Pune, the company’s restaurants are also highly rated, with seven of its venues ranked in the top 10 fine dining restaurants on TripAdvisor as of September 1, 2024, including Alto Vino and Tao Fu at JW Marriott, Pune, and Ukiyo at The Ritz-Carlton, Pune.
Ventive’s food and beverage offerings are a significant strength, particularly in its Maldives properties, further bolstering its luxury reputation. The IPO is valued at Rs. 1600 crore, with the retail portion at Rs. 160 crore (10% of the issue size) expected to see full subscription. The HNI portion, amounting to Rs. 240 crore, is likely to experience substantial oversubscription. The shares are offered at a price-to-earnings (PE) multiple of 40.39 based on FY 2023-24 earnings, which is reasonable and could generate listing gains. With its strong market positioning and bright long-term prospects, Ventive Hospitality presents an attractive opportunity for both short-term gains and long-term investment
all properties are mainly in Maldives, nd i dian goverment is not in favour of Maldives