Nexus Select Trust Enters Northeast India with Guwahati Mall and Hyatt Regency

Nexus Select Trust Enters Northeast India with Guwahati Mall and Hyatt Regency

By Hariharan U

Published on September 14, 2026

Nexus Select Trust has announced its strategic entry into Northeast India with a ₹1,600-crore transaction to acquire the upcoming Galaxy Complex in Beharbari, Guwahati, comprising a 0.5 million sq. ft. Grade-A Nexus Galaxy Mall and a 164-key Hyatt Regency Hotel.

The transaction marks the first step in Nexus Select Trust's broader strategy to build a presence across the high-potential consumption markets of East and Northeast India, with Guwahati identified as a key gateway to the region.

Nexus Select Trust, India's first listed retail REIT and one of the country's largest owners of Grade-A urban consumption centres, will acquire a 100% stake in the upcoming development. The assets will be developed by the seller to mutually agreed specifications, with Nexus expected to assume operational responsibility once construction is completed and the required approvals are received. The transaction represents Nexus Select Trust's first under-construction development transaction in Northeast India and its second such transaction since listing.

Guwahati is emerging as a major retail and consumption hub for Northeast India, supported by urbanisation, rising household incomes and growing demand for organised retail and premium brands.

As the largest commercial centre and a key gateway to the region's eight Northeastern states, Guwahati serves a catchment extending beyond the city itself. The proposed development is located within a dense and affluent catchment and will provide Nexus with an entry into the relatively underpenetrated organised retail market of Northeast India.

The city has a population of more than 2 million and a per capita income of around US$7,000, while accounting for approximately 45% of Assam's Gross State Domestic Product, according to the company.

Nexus also highlighted the limited availability of Grade-A retail infrastructure in Guwahati, presenting an opportunity for the upcoming mall to serve growing consumer demand in the city and surrounding markets.

The total purchase consideration for the mall and hotel stands at ₹1,600 crore. The transaction implies an acquisition cap rate of 8.25–8.50% for the mall, while the hotel is valued at an 11.5–12.5x EBITDA multiple.

The consideration will be paid upon completion of construction and receipt of the necessary approvals. Nexus proposes to fund the acquisition through an estimated 40% debt raise, with the balance expected to come through fresh unit issuance and unit swap. The final funding structure will be determined at transaction closure.

The company expects the transaction to be Net Asset Value (NAV) and Distribution Per Unit (DPU) accretive upon acquisition. Following the acquisition, Nexus expects its Loan-to-Value (LTV) to remain below 20%, while retaining significant debt headroom for future inorganic growth opportunities.

According to Dalip Sehgal, Executive Director and Chief Executive Officer, Nexus Select Trust, the Guwahati transaction is part of the company's larger ambition to build a scaled presence across East India's key consumption markets.

The company currently has an East India pipeline comprising six Grade-A retail assets totalling approximately 3.6 million sq. ft. across four cities.

Sehgal said the portfolio expansion will enable Nexus to target key markets including Kolkata, Guwahati, Siliguri, Patna, Bhubaneswar, Ranchi and Jamshedpur, with an ambition to build an East India portfolio generating more than ₹600 crore in NOI and contributing over 25% of its existing portfolio NOI.

Gautam Vaswani, Chief Acquisition Officer, Nexus Select Trust, said the transaction allows the company to secure an asset in Northeast India without taking on development risk. He also highlighted the expected NAV and DPU accretion and the Trust's post-acquisition LTV remaining below 20%.

The upcoming Galaxy Complex has been envisioned as a mixed-use development bringing together retail, hospitality, commercial and residential infrastructure.

Manoj Kayal and Deepak Kayal, Promoters, Galaxy Infra Creations Private Limited, said the partnership with Nexus would bring the platform's experience in owning and operating Grade-A urban consumption centres to the development, while Hyatt would contribute its global hospitality expertise.

The Guwahati project is expected to strengthen Nexus Select Trust's presence in East India while establishing its first foothold in the Northeast, with the company positioning the region as an important part of its longer-term growth strategy


Alivaa Hotels & Resorts Enters Ayodhya with the Launch of The Hoften Raghuvan

Alivaa Hotels & Resorts Enters Ayodhya with the Launch of The Hoften Raghuvan

By Hariharan U

Published on November 13, 2026

Alivaa Hotels & Resorts has entered Ayodhya's hospitality market with the opening of The Hoften Raghuvan Ayodhya, expanding its presence into India's spiritual tourism segment. Located in Beniganj along the Panchkoshi Parikrama Marg, the property is positioned to serve pilgrims and leisure travellers visiting the city, including those seeking accommodation close to the Ram Mandir.

The launch marks another step in the group's expansion across business, leisure and emerging spiritual destinations. Alivaa operates through its hospitality brands, including Alivaa, The Hoften and Xenious, catering to different traveller segments and market requirements.

Ayodhya's growing prominence as a spiritual and cultural destination has increased the focus on accommodation and organised hospitality infrastructure. The Hoften Raghuvan has been introduced to address the needs of visitors looking for contemporary comforts while travelling to the city for religious and leisure purposes.

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A key feature of the property is its commitment to 100% pure vegetarian dining, with food offerings intended to suit the preferences of pilgrims and families. The hotel also provides well-appointed rooms, modern amenities and high-speed Wi-Fi.

Alivaa's Expansion into Spiritual Tourism

Commenting on the launch, Akash Bhatia, Chief Executive Officer (M&F), Alivaa Hotels & Resorts, said Ayodhya's emergence as a major centre for domestic and international travel makes it an important destination in the group's expansion plans.

He added that The Hoften Raghuvan aims to bring the company's hospitality capabilities to a city where guest experiences are closely connected to faith, culture and tradition, while offering comfortable accommodation that remains sensitive to its spiritual setting.

Inderpal Batra, Co-Founder & CFO, Alivaa Hotels & Resorts, said the Ayodhya entry reflects the group's expansion strategy and its interest in emerging tourism corridors driven by spiritual and cultural travel.

He added that the company intends to build a scalable hospitality portfolio through its brands, supported by owner partnerships, operational efficiencies and disciplined growth.

Shivam Jain, Owner of The Hoften Raghuvan Ayodhya, said the partnership with Alivaa brings The Hoften brand to a destination with growing importance as a spiritual tourism centre. He highlighted the property's location on the Panchkoshi Parikrama Marg, vegetarian dining and accommodation facilities as features intended to serve pilgrims and leisure travellers.

Key Features of The Hoften Raghuvan Ayodhya

  • Location: Beniganj, on the Panchkoshi Parikrama Marg, with access to the Ram Mandir and other spiritual landmarks.

  • Dining: 100% pure vegetarian food offerings.

  • Accommodation: Well-appointed rooms with contemporary amenities.

  • Connectivity: High-speed Wi-Fi.

  • Market: Alivaa Hotels & Resorts' entry into Ayodhya and the spiritual tourism segment.

About Alivaa Hotels & Resorts

Alivaa Hotels & Resorts is an Indian hospitality company operating through its brands ALIVAA Hotels & Resorts, The Hoften and Xenious. Its portfolio caters to business, leisure and emerging travel segments, with a focus on contemporary accommodation, warm hospitality and locally relevant guest experiences.

The company is pursuing expansion through hotel-owner partnerships and a growing portfolio across business, leisure and tourism destinations in India.

The opening of The Hoften Raghuvan adds Ayodhya to Alivaa's network and marks its entry into a destination where the demand for visitor accommodation is closely linked to religious and cultural travel.


Zone Connect by The Park Enters Brij Bhoomi with New Hotel Opening in Mathura

Zone Connect by The Park Enters Brij Bhoomi with New Hotel Opening in Mathura

By Manu Vardhan Kannan

Published on November 13, 2026

Apeejay Surrendra Park Hotels Limited (ASPHL) has opened Zone Connect by The Park Mathura, marking the brand's entry into Brij Bhoomi, the land closely associated with the life and legends of Lord Krishna. The new property adds to the company's growing presence in India's religious and pilgrimage destinations.

The hotel features 42 well-appointed rooms across three categories, along with Café C, an all-day dining restaurant offering dining options for guests. It also houses Town Hall, an indoor events space that can accommodate up to 150 guests, making it suitable for social gatherings and other events.

Located on Masani Delhi Link Road, the property offers convenient access to some of Mathura's important religious and cultural attractions. Shri Krishna Janmabhoomi is approximately 3.6 km away, with a travel time of around 15 minutes, while Mathura Junction Railway Station is just 4 km from the hotel.

Speaking about the opening, Vikas Ahluwalia, Associate Vice President & National Head, Zone by The Park, said, “We feel truly blessed to be opening this lovely hotel in Mathura, the birthplace of Lord Krishna. Brij Bhoomi holds immense spiritual and cultural significance, and we are delighted to welcome travellers and pilgrims seeking a comfortable and contemporary hospitality experience. We also look forward to further strengthening our presence in the region with the upcoming opening of Zone by The Park in Vrindavan.”

The opening is part of Apeejay Surrendra Park Hotels Limited's plans to expand its presence across India's popular religious and pilgrimage destinations. The company already operates hotels in Katra and Prayagraj, while properties in Ujjain and Ayodhya are in the pipeline.

With the addition of Mathura and its upcoming property in Vrindavan, the company aims to strengthen its presence in the region and cater to travellers visiting destinations that continue to attract religious tourism and growing travel demand.


Marriott International Signs Agreement for South Asia's Largest Courtyard by Marriott in Bengaluru

Marriott International Signs Agreement for South Asia's Largest Courtyard by Marriott in Bengaluru

By Manu Vardhan Kannan

Published on November 13, 2026

Marriott International has signed an agreement with Vedant Enterprises to develop South Asia's largest Courtyard by Marriott property in Bengaluru. Named Courtyard by Marriott Bengaluru Hi-Tech Defense and Aerospace Park, the 350-room hotel is expected to open in 2030, adding to the hospitality options in one of the city's growing business destinations.

The property will be located within Bengaluru's expanding Defense and Aerospace Park, a 2,600-acre Special Economic Zone (SEZ) developed by the Karnataka Industrial Area Development Board (KIADB). The location is expected to attract business travellers from the region's growing hardware, aerospace and technology sectors. Its connectivity to National Highway 7 and Kempegowda International Airport will also make travel easier for guests.

Speaking about the signing, Kiran Andicot, Senior Vice President, South Asia, Marriott International, said, “The signing of the largest Courtyard by Marriott in South Asia marks a key milestone for Marriott International. It reinforces our commitment to expanding in one of India’s most dynamic cities - Bengaluru. With over 25 Courtyard by Marriott hotels across South Asia, the brand is a key growth driver of our portfolio in the region. This new addition is poised to meet the evolving needs of Bengaluru’s thriving business and MICE sectors, offering an unparalleled stay experience at exceptional price points. We are thrilled to collaborate with Vedant Enterprises on this landmark project as we support the enhancement and diversification of the city’s hospitality landscape,”

The hotel is planned to feature 350 thoughtfully designed guest rooms, a signature all-day dining restaurant with a bar, a fully equipped fitness centre, a spa and a swimming pool. It will also offer approximately 2,000 square metres of indoor and outdoor meeting and banqueting space, making it suitable for large conferences, business meetings and social gatherings.

Sharing his views on the project, N Madhava Raju, CEO and Managing Director, Fairlark, which owns Vedant Enterprises, said, “This signing represents a defining step for the Fairlark Group as we venture into the hospitality sector. Our decision to partner with Marriott International and bring a 350-key Courtyard by Marriott to the market reflects our confidence in Marriott’s established market leadership and the strength of its global distribution network. We believe North Bengaluru, particularly the rapidly evolving Aerospace Park micro-market, is poised for significant growth, driven by its proximity to the international airport and the expanding ecosystem of aerospace, technology and business enterprises. Our confidence in both the location and the brand has encouraged us to take a bold step with what is set to become South Asia’s largest Courtyard by Marriott. This project marks the beginning of Fairlark’s long-term hospitality journey, built on our commitment to quality, customer-centricity and creating enduring value,”

With this agreement, Marriott International continues to strengthen its presence in Bengaluru while expanding the Courtyard by Marriott brand across South Asia. The upcoming property is expected to serve the city's growing business and MICE segments, particularly with the development of the Defense and Aerospace Park and its surrounding commercial ecosystem.

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