Thilan Wijesinghe, renowned investment banker, entrepreneur, PPP expert and chairman and owner of TWC Holdings, has been appointed to the Board of Directors of Ventive Hospitality Company. After commencing trading on the National Stock Exchange of India, it successfully completed an initial public offering of US$ 200 million, reaching a market capitalization of over US$ 2 billion.
Ventive Hospitality is a joint venture between Blackstone India and Panchshil Realty, one of India’s largest real estate developers based in Pune.
Ventive is India’s first South Asia-focused listing, which includes 13 operating hotels and four office and retail properties in India, three hotels in the Maldives and a resort property with international luxury brands in Sri Lanka, which is slated to begin construction later this year. With 2,036 operational hotel rooms in Ventive’s portfolio, the company is now the fourth largest hotel company in India by market capitalization. Located in Pune, Bangalore and Varanasi, Ventive’s 10 hotel properties across India are managed by international brands such as Ritz Carlton, JW Marriott, Marriott, Courtyard by Marriott and Oakwood. The three hotels in the Maldives are managed by Anantara, Conrad and Atmosphere.
Speaking on the need for Sri Lanka to attract capital to luxury brands, Mr. Wijesinghe said, “Sri Lanka needs to attract high-end international brands to attract high-spending tourists. About 6 percent of the country’s rated resort hotel rooms are managed by international brands, compared with more than 40 percent in the Maldives.”
His expertise in developing exclusive properties, such as establishing Dilma’s leisure management business in its first five years and co-creating and launching the award-winning Ceylon Tea Trails, in driving Ventive Hospitality’s regional expansion plans and vision to deliver exceptional leisure experiences to discerning Indian and international travelers. It provides Mr. Wijesinghe with the necessary experience to play a critical role.
“Although Sri Lanka’s primary focus is on newly built resorts, he has not ruled out acquiring internationally branded operational hospitality assets in Sri Lanka, the Maldives and other Indian Ocean destinations.
Concluding, Wijesinghe said, “I am delighted that India’s renowned real estate company and the world’s largest private equity firm is now exposed to Sri Lanka.”
