Rendezvous enters India

September 12, 2008	(Be the first to rate this story!)  Loading ...
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Rendezvous Hotels & Resorts International, a subsidiary of the listed Singapore company, The Straits Trading Company Limited, has announced a joint venture agreement with Chennai based Indian developer XS Real Properties (XS Real), pioneer of bungalow apartments in Chennai. The joint venture company (JVCO) which will be called Rendezvous India Hospitality Private Limited will manage hotels and resorts in the dynamic Indian market, where the government estimates an additional 150,000 additional hotel rooms are required to meet demand in areas such as Mumbai, Delhi and Chennai.

Rendezvous India will act as a substantial catalyst in RHI’s growth, facilitated by XS Real’s established and impressive track record in the Indian market. XS Real has been a prominent property developer in this region since 1995, and has won numerous building awards. RHI will own 51% of the JVCO, undertaking the day to day responsibility for the JVCO, opening and operating the hotels under its management and brands: Rendezvous Hotels & Resorts and Marque Hotels. Meanwhile, XS Real will use its terrain, local market and network expertise to introduce new business opportunities to the JVCO. In addition, they will support RHI in understanding local market conditions, developing contacts, business and brand building strategies, and will help to ensure a secure and prosperous entry for RHI into this exciting market.

Chief Executive of Rendezvous Hotels & Resorts International, Mr Alan Featherby, says, “This JVCO presents a great opportunity for Rendezvous to enter one of the region’s fastest growing hotel markets with a reputable local partner. We are thrilled to be working with entrepreneurs of the caliber of Mr Prabhakaran and his executive team and understand their considerable expertise will mean mutual benefits for both companies. This complements our recently announced move into the Middle East and supports our already strong growth in other regional areas, particularly China, South East Asia and Australia”.

Mr. S.G. Prabhakaran, Vice Chairman, XS Real Properties informed the media that XS Real will use its local knowledge and expertise to support the JVCO with infrastructure and opportunities to sign up hotels under the JVCO. “XS Real will also support Rendezvous Hotels & Resorts International in understanding local market conditions, developing contacts, and business and brand building strategies, and will help to ensure a secure and prosperous entry for Rendezvous Hotels International into this exciting market,” he said.

Mr. S.G. Prabhakaran further added that with an acute shortage of hotel rooms in India across the mid and luxury segment the JVCO brings in two brands, Rendezvous and Marque which can address the needs of this segment. XS Real is a premium real estate developer that has set high standards of quality and character to its constructions. The tie up with Rendezvous will give XS Real the partner it required to enter the hospitality field. The entry into this field will see XS Real move up the value chain and to use its expertise in building and construction for asset management While explaining the marketing strategy Mr. Prabhakaran said, “Stand alone hotels which are not able to retain their market share for the lack of a brand, international expertise, network would be the ideal partners to enter management contracts”.

News Published Under:   Hotel Industry in India |

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