TORONTO — Canada Pension Plan Investment Board is investing $441 million in Prestige Hospitality Ventures Ltd., a hotel owner and developer in India.
Under the agreement, CPP Investments will acquire a 27 per cent stake in PHVL, the hospitality arm of Indian real estate developer Prestige Estates Projects Ltd.
It says the majority of the capital will support the platform’s continued expansion.
PHVL owns a portfolio of luxury and premium hotels in key cities across India.
CPP Investments says the deal is its first direct investment in India’s hospitality sector and builds on recent investments in Japan and South Korea.
Earlier this year, it announced a $474-million partnership with Korean asset manager BlueCove Investment to invest in hotels in Seoul, South Korea.
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This report by The Canadian Press was first published Sept. 29, 2026.
