Shree Naman wins ₹1,800 crore bids for JW Marriott Bengaluru and Crowne Plaza Pune

Shree Naman Group has emerged as the winning bidder for the two hotel assets, valuing JW Marriott Bengaluru at ₹1,611 crore and Crowne Plaza Pune at about ₹189 crore. The insolvency-led transactions remain subject to court and regulatory clearances.

— Source publishedWed, 26 Aug, 2026, 06:00 IST·First seen Wed, 26 Aug, 2026, 06:05 IST·Source Mint

What happened

Shree Naman Group won insolvency bids worth about ₹1,800 crore for JW Marriott Bengaluru and Crowne Plaza Pune, expanding its Indian hotel portfolio. The

Key facts

  • ₹1,800 crore combined enterprise value
  • ₹1,611 crore allocated to JW Marriott Bengaluru
  • About ₹189 crore allocated to Crowne Plaza Pune
  • ₹160 crore performance guarantee for JW Marriott
  • ₹20 crore performance guarantee for Crowne Plaza
  • ₹665.74 crore default in JW Marriott insolvency case
  • 45 expressions of interest
  • 11-12 resolution plans
  • 100% ownership intended despite 51% minimum equity allowed
  • 2.5-acre Delhi Dwarka hotel land parcel
  • ₹171 crore Chalet Hotels acquisition of Inder Residency

Why this matters

The bids demonstrate how insolvency processes can provide a route to acquire established, branded hotel assets in major Indian markets, though transaction certainty remains conditional.

What to watch

  • NCLT approval timelines, creditor objections and any litigation affecting transfer of ownership.
  • Final disclosed purchase consideration, assumed liabilities and financing terms.
  • Continuation, amendment or replacement of the JW Marriott Bengaluru and Crowne Plaza Pune operating agreements.
  • Required renovation capex and any temporary room or facility closures.
  • Occupancy, ADR and RevPAR trends in Bengaluru and Pune, particularly corporate travel and convention demand.
  • Comparable valuations and new insolvency-sale activity across Indian hospitality assets.
  • Secure NCLT and other required regulatory approvals, followed by formal transaction closing.
  • Finalize funding structure and assess whether acquisition financing will be supplemented by equity, asset-level debt or a partner.
  • Review Marriott and IHG brand-management arrangements, renewal terms, performance tests and required property-improvement plans.
  • Undertake phased capex focused on rooms, food-and-beverage, events infrastructure and energy efficiency.
  • Rebuild corporate, MICE and wedding sales pipelines to improve weekday occupancy and ancillary revenue.
  • Use the transactions to pursue additional distressed or lender-led hotel acquisitions in major Indian business markets.

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