Canada Pension Plan Investment Board (CPP Investments) is investing 30 billion Indian rupees (about $310 million) in Prestige Hospitality Ventures Ltd (PHVL), marking its first direct investment in India’s hospitality sector, according to an announcement.
CPP Investments will acquire an approximately 27% stake in PHVL, the hospitality platform of Indian real estate developer Prestige Estates Projects Ltd, with most of the capital earmarked to support the platform’s expansion, the investment manager said.
PHVL owns a portfolio of luxury and premium hotels in key gateway cities across India and has a development pipeline covering Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai.
The investment gives CPP Investments exposure to India’s hospitality market through a platform backed by Prestige Group, one of the country’s diversified real estate developers.
The pension fund said the deal builds on its growing hospitality exposure in Asia Pacific, including investments in Japan and South Korea.
“We see compelling opportunities in India’s hospitality sector, driven by rising travel and a demand for quality accommodation,” Hari Krishna, head of real estate India and Mumbai office head at CPP Investments, said in a statement.
The investment offers CPP Investments an opportunity to participate in the sector’s long-term growth through a platform with an established portfolio and development pipeline, Krishna said.
Prestige Group Chairman and Managing Director Irfan Razack said hospitality was an important part of the company’s long-term growth strategy and that the partnership would help build a scaled portfolio across India.
“We are pleased to welcome CPP Investments as a long-term partner in Prestige Hospitality Ventures. Their long-term investment approach complements our development capabilities and market understanding,” Razack said.
Prestige Group, which has operations spanning residential, commercial, retail, hospitality, and integrated townships, said it had delivered 319 projects covering 216 million square feet as of June 2026.
Its development pipeline stood at 137 projects covering 229 million square feet.
CPP Investments, on the other hand, manages the Canada Pension Plan Fund and had C$863.6 billion ($638 billion) in assets as of June 30, 2026, according to the statement.
