Mumbai based ICS group have formed a joint venture with the Mantis group based in South Africa, an owner and operator of a global portfolio of iconic boutique luxury hotels.

The new joint venture named ‘Ayana’ will address the untapped opportunity in the boutique luxury segment of the market in the Indian sub-continent and south-east Asia.

Ayana’s focus over the next few years is to design and operate iconic hotels in nature destinations and targets to have eight properties under management in the next three years.

The first project is a ten room luxury safari lodge at Pench National Park, which is expected to be operational by 2013, priced at approximately INR 25,000 a room per night. In developing this lodge, the Company intends on establishing a successful model for ecotourism by providing a meaningful and unique experience to it’s guest while ensuring the protection of India’s spectacular wildlife and natural heritage.

Speaking about the joint venture, Mr. Kunal Premnarayen, Group CEO of ICS Realty said, “The luxury boutique segment in India is at a nascent stage and there is immense potential in the sector. The tourism industry in India is developing and evolving as the country witnesses’ a steady increase in inbound international travelers. We believe this is the most opportune time to make our foray in to the hospitality sector and are delighted to have an experienced and globally reputed partner in Mantis.”

Graham Moon, CEO - MDI says, “We are very excited about our first venture in India. In ICS we have found the right partners with a shared vision to create landmark boutique hotels.  India ranks high among the tourism destinations in the world given the immense bio-diversity and the varied landscapes. We are very optimistic about the boutique luxury tourism sector in India and are excited to participate in this growth story.”

Commenting on the announcement Akhil Behl (CEO of Ayana) said, “Our objective at Ayana is to share untouched nature destinations with our guest, providing the ultimate luxury experience. Mantis has an established record in providing “once in a lifetime” experiences to the boutique luxury clientele and a strong philosophy towards conservation and eco-friendly practices. They have been acclaimed the leading conservation company in the world on multiple occasions. These attributes make Mantis our preferred partner to address the India opportunity.”