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The Dusit-Bird partnership in India is scouting for properties to take on their management as part of a new management services company being set up.
The duo, which has the Dusit Bird Hotels and will have the Bird Group’s seven properties to manage, is also setting up an exclusive 50:50 JV for the management company. Bird’s five hotels will be managed by it while Dusit is looking to take the asset-light route to expand its Indian footprint since its understanding with Bird is not exclusive to just Bird’s hotels. The final stages of registering the company are underway.
“We will manage all Bird hotels as well as actively seek other third party owners for asset management of hotels, resorts and service apartments across all hotel categories,” said Harsh Varma, regional vice-president, Dusit Bird Hotels.
All options are on the cards as Varma will consider green and brown field projects as well as conversions.
The new company is a pure management company with no stated plans to invest in projects as a means to secure the contract. “At this point we are extremely bullish in India. We have met some people though nothing of substance has come about,” said Varma.
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Varma said he is taking his time in signing management contracts in order to focus on his existing projects. The properties are slated to be the Dusit Devarana New Delhi (May 2010), dusitD2 New Delhi, Dusit Devarana Jaipur, Dusit Devarana Rishikesh, and a to-be-announced Goa project. Also, the company wants to give its in-house projects some breathing time and therefore is scouting for projects with a 2012-13 timeline.
“We want to be seen as good owners in order to sign up good contracts,” said Varma.
Varma, who will directly oversee these operations, is the first major appointment for the JV. He is expected to set up base in India soon after Diwali.
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COMMENT
It good to hear and read about the venture in India.