Continent Hotels and Resorts Brand Franchise Systems, Ltd. (CHR), has announced that a master franchise license agreement with India-based PV HOTELS & RESORTS PVT LTD will bring the Continent Brand flag to India and South East Asia.
With the agreement, PV HOTELS & RESORTS PVT LTD will become official licensor in India, Nepal, Bangladesh, Malaysia, Singapore, Sri Lanka and Thailand. Company announced that according to agreement and plans, 25 hotels opening planned during first year of their license.
"All hotels represent perfect examples of what Continent Hotel, Continent Resort and Continent City Inn symbolize, international standards, blended with Turkish Hospitality," states Ethem Zagikyan, Principal and Managing Director of Continent World wide. "By entering into a joint venture and Master License agreement with PV Hotels, we aim to intensify Continent's position in the market, which includes investing additional resources," continues Ethem. "By increasing our involvement, we aim to boost the developments so to achieve our overall mission of becoming one of the well known brands in the markets we operate in. We are excited to begin granting our third international partnership agreement, and to be partner with PV Hotels. Bringing the Continent brand to South East Asia will contribute greatly to its growing travel and tourism industry."
PUJA MEHTA DIXIT, the President of PV Hotels said; "We are pleased to be working with Continent brand franchise, and look forward to developing and re branding hotels. We have found an excellent fit with our Continent Hotels partnership, a mid and upper scale market limited and full service chain that fits the strategic needs of South East Asia" and adds; "These are important ingredients for our franchise success. The personal support given from the Continent's corporate staff combined with the implementation of PV Hotels experience is a winning formula for growth and success."
About Continent:
Continent Hotels and Resorts® and its standards were founded in 2000 by veteran hotelier Mr. Jirayr Zagikyan who has more than 40 years experience in hospitality field, as Executive Team Member role with Hilton International, Merit Hotels and Resorts and Divan Hotels. Continent brand registered as trademark in 2003 by his son Mr. Ethem Aret Zagikyan and Company started to ramp up in International Arenas not just as Consulting Services Provider but as an International Hotel Operator and brand franchisor. Continent Hotels & Resorts is a privately owned franchise and management company with its head office based in Istanbul, Turkey.
Tags:Continent Hotels, Brand Franchise Systems, PV Hotels, licensor, city inn, ethem zagikyan, joint venture, master license agreement, puja mehta dixit,jirayr zagikyan, hotel franchise
Source:Company Press Release August 7, 2010.
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Showing posts with label Hotel Franchise. Show all posts
Showing posts with label Hotel Franchise. Show all posts
Monday, August 9, 2010
Monday, December 7, 2009
Starwood Hotels Opens Up In Pune.
Starwood Hotels & Resorts Worldwide (NYSE: HOT) today announces the opening of The Westin Pune Koregaon Park - the first of six new Westin Hotels to open in India over the next three years and the brand's 25th Hotel in Asia Pacific. The hotel is illustrative of Starwood's overall growth in India with 24 existing hotels and plans to grow its footprint by 60 percent by 2012.
"As home to the world's fastest growing population, India represents a significant opportunity for Starwood and our development partners," said Frits van Paasschen, President and CEO for Starwood Hotels & Resorts Worldwide, Inc.
India makes up 21 percent of the world's incremental growth, and by 2016, its population is expected to be larger than that of Europe, Russia, Australia, New Zealand, Japan, Canada and the United States combined.
"Coinciding with its population boom is the rise of India's middle class, which is driving domestic tourism growth. In this decade, disposable income in India has grown about 10 percent annually, and much of that is being spent on travel," added van Paasschen. "By working to further establish relationships with travelers in this critical, high-growth market today, we are ensuring the success of Starwood tomorrow."
In 2009, Starwood made meaningful gains in India with the debut of the Four Points by Sheraton brand in Mumbai and Jaipur. And looking ahead to 2010, Starwood will launch its Aloft brand in India, opening the first three of its six hotels in the pipeline
"India's dynamic and resilient economy makes it a highly attractive choice for further hotel development," said Miguel Ko, Chairman and President of Starwood Asia Pacific. "India has a strong GDP growth rate, an established role as global hub for the outsourcing industry and the infrastructure to support travel to and within the country. And with our plans to grow our footprint by 60 percent in the next three years, Starwood is well positioned to meet the pent-up demand for our lifestyle brands throughout India."
While India is a growth powerhouse in and of itself, when combined with China, the implications for Starwood are even farther reaching.
"The potential numbers of new international travelers from India and China are staggering," said Simon Turner, President of Global Development for Starwood. "When you take a look at India and China, you have 40 percent of the world's population, and between them, they are averaging 8 percent growth in GDP. Furthermore, by 2015, 400 million Chinese and Indians will have sufficient incomes to travel abroad - as a point of perspective that is seven times the number of international travelers who visited the United States last year."
Starwood Hotels & Resorts Worldwide is one of the leading hotel and leisure companies in the world with 982 properties in more than 100 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton, and the recently launched Aloft, and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.
Source:Real Estate Channel
"As home to the world's fastest growing population, India represents a significant opportunity for Starwood and our development partners," said Frits van Paasschen, President and CEO for Starwood Hotels & Resorts Worldwide, Inc.
India makes up 21 percent of the world's incremental growth, and by 2016, its population is expected to be larger than that of Europe, Russia, Australia, New Zealand, Japan, Canada and the United States combined.
"Coinciding with its population boom is the rise of India's middle class, which is driving domestic tourism growth. In this decade, disposable income in India has grown about 10 percent annually, and much of that is being spent on travel," added van Paasschen. "By working to further establish relationships with travelers in this critical, high-growth market today, we are ensuring the success of Starwood tomorrow."
In 2009, Starwood made meaningful gains in India with the debut of the Four Points by Sheraton brand in Mumbai and Jaipur. And looking ahead to 2010, Starwood will launch its Aloft brand in India, opening the first three of its six hotels in the pipeline
"India's dynamic and resilient economy makes it a highly attractive choice for further hotel development," said Miguel Ko, Chairman and President of Starwood Asia Pacific. "India has a strong GDP growth rate, an established role as global hub for the outsourcing industry and the infrastructure to support travel to and within the country. And with our plans to grow our footprint by 60 percent in the next three years, Starwood is well positioned to meet the pent-up demand for our lifestyle brands throughout India."
While India is a growth powerhouse in and of itself, when combined with China, the implications for Starwood are even farther reaching.
"The potential numbers of new international travelers from India and China are staggering," said Simon Turner, President of Global Development for Starwood. "When you take a look at India and China, you have 40 percent of the world's population, and between them, they are averaging 8 percent growth in GDP. Furthermore, by 2015, 400 million Chinese and Indians will have sufficient incomes to travel abroad - as a point of perspective that is seven times the number of international travelers who visited the United States last year."
Starwood Hotels & Resorts Worldwide is one of the leading hotel and leisure companies in the world with 982 properties in more than 100 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton, and the recently launched Aloft, and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.
Source:Real Estate Channel
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