Prestige Estates Acquires 50% Stake in Advent Hotels' Subsidiary, Initiating Joint Venture Partnership
Advent Hotels International Ltd has announced that it has executed an Investment Agreement establishing a joint venture structure for one of its key projects. The agreement involves the acquisition of a significant equity stake by Prestige Estates Projects Limited.The deal was finalized on July 3, 2026, between Advent Convention and Hotels International Limited (ACHIL), which is a wholly-owned subsidiary of the Company, and Prestige Estates Projects Limited along with Prestige Falcon Realty Ventures Private Limited.
Under the terms of this Investment Agreement, Prestige Estates will acquire a 50% equity share capital stake in ACHIL. This stake represents 50% of the economic and voting rights within the entity. The aggregate consideration for this acquisition is Rs. 504 Crores. Upon completion of the transaction, ACHIL will no longer be a wholly-owned subsidiary of Advent Hotels International Ltd, with the Company retaining the remaining 50% interest as a joint venture partner.
Project Background and Land Acquisition
The partnership materializes against the backdrop of land acquisition involving a strategic parcel for commercial development. Previously, Valor Estate Limited (the erstwhile holding company of Advent Hotels International Ltd) had entered into a Framework Agreement with Esteem Properties Private Limited (a wholly-owned subsidiary) and The Company on May 29, 2025. This framework agreement covered the joint commercial development of a land parcel.The Project Property in question measures 21,978.22 sq. meters and is situated at Sahar, Village Andheri, Taluka Andheri East, Mumbai Suburban District.
The acquisition of absolute ownership by The Company was achieved after Esteem merged with Valor Estate, following an Order dated June 12, 2025, passed by the Hon'ble NCLT, Mumbai Bench approving a Composite Scheme of Amalgamation and Arrangement dated December 17, 2024. Subsequently, the hotel undertaking, including the Project Property, was demerged into The Company. The Company then conveyed this Project Property to ACHIL, which is designated as the exclusive Special Purpose Vehicle (SPV) for the project.
The definitive Investment Agreement executed on July 3, 2026, confirms the shift toward a 50:50 joint venture partnership between Advent Hotels International Ltd and Prestige Estates in implementing this strategic development.
ADVENTHTL Stock Price Movement
Shares of Advent Hotels International Limited slipped by 0.83% in post-market trading today, settling at ₹141.00. The stock saw a volume of 99,237 shares traded during the session, having moved within a day range established between a low of ₹138.27 and a high of ₹144.48.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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