Some of India’s biggest hospitality names: Indian Hotels Company (IHCL), EIH, and ITC Hotels, have reportedly joined the race to acquire JW Marriott Bengaluru, a luxury property currently undergoing insolvency proceedings.
The five-star hotel, owned by the Advantage Raheja Group, features 281 rooms and occupies a prime location in the heart of the city. According to reports, around 40 companies from the hospitality and real estate sectors have submitted expressions of interest in the sale process overseen by the bankruptcy court. Other contenders include Manipal Health Systems, Chalet Hotels, SAMHI Hotels, Oberoi Realty, Unisons Hotels, and Shree Naman Developers.
The property’s owner, Gstaad Hotels (a subsidiary of the Advantage Raheja Group), entered corporate insolvency after Omkara Asset Reconstruction Company filed a petition over unpaid debt exceeding ₹660 crore. Omkara ARC now holds a 96% share of verified claims, giving it significant influence over the final selection of the buyer.
If completed, the sale would add to a growing list of luxury hotels changing hands under India’s bankruptcy law, following recent deals such as the Centaur Hotel in Mumbai and the Westin Kolkata.
