Whalesbook
Blackstone Group has acquired a 50% stake in the Taj Aravali Resort & Spa in Udaipur for an estimated $100-110 million. The deal, which closed in late December, saw the New York-headquartered firm purchase the stake from Mumbai-based Ishaan Group. The Indian Hotels Co. Ltd (IHCL), a unit of the Tata group, currently manages the 180-key property under a contract.
Hospitality Expansion in India
This acquisition signifies Blackstone's renewed focus on rebuilding its hospitality portfolio in India. The firm is actively seeking new opportunities across major cities, leveraging the country's robust recovery and growth potential in the premium and luxury hotel segments. Blackstone is also reportedly in talks to acquire a significant stake in Bengaluru's Ritz Carlton hotel.
The Indian hospitality sector is attracting heightened investor interest. Driven by surging domestic tourism and policy reforms, the industry experienced strong growth in 2025, with over 32,500 rooms signed by September, many targeting Tier II and III cities. This expansion is boosting regional occupancy rates and positioning the sector as an attractive asset class for institutional investors seeking stable cash flows.
The Taj Aravali property is slated for an upgrade and expansion, adding 75 new keys. It will be rebranded as Taj Exotica Resort & Spa Aravali, featuring larger rooms and more suites. This move aligns with the growing demand for upscale accommodations in destinations like Udaipur, which has emerged as a prime location for luxury tourism and high-profile weddings.