Amari-Lamba create JV to drive Indian venture
Thai hotel management company Amari Colours & Rhythms has created a special JV with Ten Hotel’s former MD & CEO Mandeep S Lamba to drive Amari’s Indian venture.
The deal, which was announced yesterday, February 17, will have Lamba create and manage Amari’s Indian portfolio which is an asset light approach of seven hotels in five to seven years. Amari has business hotels and resorts in upper midscale four-star category.
“Amari have been in negotiations with Indian owners for some time. They have been looking for someone with Indian expertise to manage their venture here. We hope to announce the first project in six months,” said Mandeep S Lamba, who takes over the Amari India JV as managing director and CEO.
Peter Henley, Amari’s president & CEO has been courting Indian hospitality for almost a year. In April 2009, he announced an international expansion war chest of US $44.1 million towards improving his technology support, brand building and key recruitments.
The Amari-Lamba deal has been in the works for 10 months when the two met at HICSA 2009. The two-party deal has Lamba as a minority stakeholder.