Thilan Wijesinghe appointed to the Board of Ventive Hospitality Limited

Chairman & Owner of TWC Holdings, Thilan Wijesinghe, has been appointed to the Board of Directors of Ventive Hospitality Limited, which successfully concluded a USD 200 Mn IPO in India, reaching a market capitalisation of over USD 2 billion upon the commencement of trading at the National Stock Exchange of India recently. Ventive Hospitality is a joint venture between Blackstone India and Panchshil Realty, and is among the largest real estate developers in India based in Pune.

Ventive is India’s first South Asia-focused listing comprising 13 operating hotels and four [04] office and retail properties in India, three [03] hotels in the Maldives and one [01] international luxury branded resort property in Sri Lanka which is scheduled to commence construction later this year. With 2,036 operating hotel rooms currently in Ventive’s portfolio, the company is now the fourth-largest hotel company in India by market capitalisation.

Speaking on the need for Sri Lanka to attract capital into luxury brands, Thilan remarked, “Sri Lanka needs to attract high-end international brands to draw high-spending tourists. Only about 6% of the country’s graded resort hotel rooms are managed by international brands, compared to over 40% in the Maldives.”