Canada Pension Plan Investment Board (CPP Investments) has announced an INR 30 billion ($309 million) investment in Prestige Hospitality Ventures Ltd. (PHVL), the hospitality platform of Prestige Estates Projects Ltd. (Prestige Group), one of India’s leading real estate developers. Through the investment, CPP Investments will acquire an approximately 27 percent stake in PHVL, with the majority of the capital supporting the platform’s continued expansion.
This marks CPP Investments’ first direct investment in India’s hospitality sector and builds on its growing hospitality exposure across Asia Pacific, including recent investments in Japan and Korea. PHVL owns a portfolio of luxury and premium hotels in key gateway cities across India and is well positioned for future growth through a substantial development pipeline spanning Bengaluru, Chennai, Delhi, Goa, Hyderabad and Mumbai.
“Hospitality is an important part of Prestige’s long-term growth strategy, and w
