HSBC Global Research initiates coverage on Ventive Hospitality with a 'Buy' rating and a target price of Rs 854 per share.Ventive Hospitality owns 11 hotels in India and the Maldives, with primary markets generating 90% of its revenue.The Indian hospitality industry is experiencing a robust upcycle, driven by urbanization and increased spending on holidays.Ventive's recent underperformance and lower occupancy levels are expected to improve as airport infrastructures in Pune and the Maldives improve.