Prestige Secures Rs 3,000 Cr from CPPIB for Hotel Expansion

Realty major Prestige Estates Projects’ hospitality arm, Prestige Hospitality Ventures (PHVL), has secured Rs 3,000 crore from the Canada Pension Plan Investment Board (CPPIB). This strategic partnership marks CPPIB's first direct investment into India's hospitality sector. The capital will fuel the expansion of luxury and premium hotels across major gateway cities like Bengaluru, Chennai, and Mumbai, reinforcing hospitality as a core pillar of the group's long-term growth strategy, as noted by Chairman and Managing Director Irfan Razack.

News by Rahul Yelligetti.