Blackstone-backed Ventive to buy western India resort

Ventive Hospitality Ltd, a joint venture between Blackstone and Panchshil Realty, has acquired a 420-acre property in the Mumbai Metropolitan Region from Kelzai Eco Reserves Pvt Ltd for Rs 281.88 crore ($29.5 million) and an enterprise value of Rs 466 crore, expanding Ventive's presence in the luxury resort and branded villa segment.