|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
MBD Group ties up with Steigenberger Hotel Group to manage, franchise hotels
|
|
Saturday, 25 June, 2016, 08 : 00 AM [IST]
|
|
Our Bureau, New Delhi
|
|
fiogf49gjkf0d MBD Group, one of India’s largest education and leading hospitality companies, and Steigenberger Hotel Group, the largest German chain of hotels and resorts, have announced a joint venture to manage and franchise hotels under the brand ‘MBD Steigenberger’ for the Indian territory. MBD Group will have a 51% stake while Steigenberger will hold a 49% stake in the company.
As per a press release issued by the company, the management of the company would be in the hands of the MBD Group looking after the India-wide operations of the brand including business development, management and franchising of hotels, India marketing, pre-opening and post-opening assistance, wherein; Steigenberger would be providing international sales and marketing support, training and brand standards to be deployed in the Indian region to suit the expectations of a luxury traveller.
The joint venture would target to open at least 20 hotels in India over the next 15 years with projected annual revenue of hotels under management and/ or franchise of nearly Rs 2,000 crore.
The new brand, in-line with the international positioning of the Steigenberger brand, shall be positioned to target the luxury segment in India, a segment that is expected to grow at an extremely fast pace in India. The flagship hotel under the joint venture will be the MBD Zephyr Bangalore – An MBD Steigenberger Hotel located in the heart of Whitefield Bangalore - the silicon city of India offering 184 rooms and 118 service apartments, interpreting luxury in the true sense of the word.
Commenting on the partnership, Sonica Malhotra, managing director of the joint venture and joint managing director of the MBD Group, said, “We are extremely proud to announce our association with Steigenberger Hotel Group. The association will ensure that German excellence joins hands with the warmth of Indian hospitality providing the next level experience to our guests across the country. We will be focussing on key cities in the country including Delhi, Mumbai, Chennai, Hyderabad, Goa, Kolkata, Pune, Indore, and other cities where we want to come up with luxury hotels and cater to the crème de la crème in each city.“
Puneet Chhatwal, CEO, Steigenberger Hotel Group, said, “We are extremely honoured to associate with our appreciated partner MBD and become a part of the Indian hotel landscape. This is an important milestone in our history of international growth. As a company with German roots Steigenberger Hotel Group enjoys a good reputation worldwide. It is the “Germanness” what is associated with precision, reliability and quality all around the globe. Our brand represents excellence, perfection and a wealth of tradition. We are very excited to bring our hospitality to the Indian market.”
Talking about their strategy, Malhotra adds, “We have been in the hospitality industry for over a decade and have successful proven ourselves by exuberating excellent the hospitality performance in Delhi and Punjab both on financial parameters and also overall guest experience. Steigenberger understood our key strengths and also the potential of the Indian hospitality and has accordingly put MBD Group on the lead for managing the joint venture in India. MBD Group comes with its key strengths understanding the socio and demographic profile of the country because of our hospitality company and also because of the fact that we are the largest education company in India working across more than 62 locations. Our first property under this joint venture will be the iconic MBD Zephyr – A MBD Steigenberger Hotel in Bangalore exuberating lifestyle, luxury and surprise and after that we will be looking at potential projects either in green field and brown field stage in gateway cities.”
The newly-ventured brand will be headquartered out of MBD’s corporate office at Bahadur Shah Zafar Marg in New Delhi.
|
|
|
|
|
|
|
|
|
|