Absolute Hotel Services forms JV in India
Absolute Hotel Services has formed a joint venture company in India with KBJ Group and National Capital Management Pvt. Ltd. (NCMPL). The new company, called Absolute KBJ Hotel Services India has been established to support Absolute Hotel Services company expansions in hospitality management and consultancy services across India, Bangladesh, Sri Lanka, Nepal and Maldives, and will start operating from 1 February 2010 from its office in Mumbai.
Mr. Mark Heather is the Regional Managing Director of the company. An initial management portfolio of 15 hotels and resorts with over 1,500 rooms is expected to be announced throughout 2010.
Absolute KBJ Hotel Services India is a partnership with Absolute Hotel Services (60%), KBJ Hotels Ltd (20%) and National Capital Management Pvt Ltd (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.
Mumbai-based KBJ Group that has been in the jewellery business for three generations is now entering the hospitality industry through development and management under KBJ Hotels Ltd. The first five hotel development projects will be focused in the northern part of India including Varanasi, Bodh Gaya, Kushinagar, Khajuraho and Goa. Future development phases are planned to take the portfolio up to 15 properties.
Mr. Mohit Kamboj, Managing Director of KBJ Group, said, “There is immense potential in the Buddhist tourist circuit of India, which is highly untapped. There is huge requirement of quality hotel rooms in these locations with a significant inflow of tourists from South East Asia. We want to create our first set of room inventory in these locations.”
Mr. Jonathan Wigley, CEO of Absolute Hotel Services Co. Ltd. and the Chairman of Absolute KBJ Hotel Services India added, “A joint venture with KBJ Group and NCMPL is a significant expansion for us and with our joint venture partners we have the best expertise in their respective fields to benefit from. National Capital Management Pvt. Ltd. is one of India’s leaders in financial, project management and consultancy together with the KBJ Hotels’ development projects that are underway, and for us it is important to co-operate with market leaders in long term partnerships. The agreement now signed will further enhance AHS to become a leading regional hospitality company over the next few years.”