Carlson Hotels buys out its Indian partner RHW
In a second development of its kind, US hospitality company Carlson Hotels Worldwide has taken control of its Indian operations by buying out its local partner RHW Hotel Services.
Hubert Joly, Carlson's president & CEO Huber Joly made this announcement at the HIFI 2010 conference in Mumbai yesterday.
Earlier in the same day, Choice Hotels International also announced a similar move, where it is soon to be 100% US-owned by acquiring the stakes of its two partners here in India.
Carlson acquired RHW's 74% stake for a sum Joly is unwilling to disclose. This gives it controlling stake in development and operations while also taking its total stake to 87%. The company owned 13%. The remaining 13% continues to be held by private equity investors.
"The acquisition will enable us to strengthen our operations in development of projects, operations, marketing and sales," Joly said on the sidelines of the investment conference.
Carlson's relationship with RHW dates back to 1998.