Henry Gabay, Chairman of the UK based Duet Group, "We are very pleased to partner with Starwood for the development of our hotel portfolio in India."
“There is no better time to be investing in the Indian hospitality market than now “said Anuj Gupta, co founder of Duet India Hotels (DIH).
He also said, "Deals are available at attractive valuations for cashed up companies such as DIH who are pursuing an aggressive investment and development strategy to take advantage of the current market conditions."
Speaking on the agreement, Miguel Ko, President and Chairman of Starwood Hotels & Resorts, said, "Starwood has spent the last two years laying the groundwork for the debut of the Four Points by Sheraton brand in India. We are thrilled to see our plans come to fruition with the continued growth of the Four Points by Sheraton brand in India."
"In keeping with Four Points by Sheraton's commitment to providing honest, uncomplicated comfort, Four Points by Sheraton Jaipur, City Square will offer travelers a new kind of style combined with spirited 'can do" service at an honest value," he added.
DIH is presently constructing another three hotels at Pune, Ahmedabad and Indore with the Pune property scheduled to open in Jul 2010, Indore in Dec 2010 and Ahmedabad in Apr 2011.