L-R: Jonathan Wigley, CEO, AHS, Mohit Kamboj, MD, KBJ Group & Joseph D'Couto, NCM
Bangkok-based Absolute Hotel Services has signed a three way joint venture agreement in India with jewellery company KBJ Group and finance and management specialist National Capital Management. An initial management portfolio of 15 hotels and resorts with over 1,500 rooms will be announced throughout 2010.
KBJ is developing AHS's first Indian property, the 117-room U Grand Varanasi. HotelierIndia.com first reported the development on September 2, 2009. Click here for full article
The new three-way JV is named Absolute KBJ Hotel Services India with the mandate to support AHS expansions in hospitality management and consultancy services across India, Bangladesh, Sri Lanka, Nepal and Maldives. The company officially launches on February 1, 2010 and will be headed by Mark Heather as regional managing director.
AHS owns 60%, KBJ Hotels has 20% and NCM the balance 20%. The company will operate properties under five brands: U Hotels & Resorts, Eastin Hotels, and Eastin Residences (owned by Absolute Hotel Services), and KBJ Hotels and KBJ Residences (owned by KBJ Hotels Ltd).
Affiliate branding of KBJ-owned hotels whether as members of U Hotels & Resorts, Eastin Hotels or Eastin Residences will depend on the property's positioning.
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