India first overseas foothold for Rogers
Mumbai, May 1: Rogers&Company, a 106 years old service provider of Mauritius, has identified India as its first step towards overseas expansion programme and earmaked a sum of over USD 100 million for investments in India.
A team of top executives led by CEO Philippe Espitaler Noel recently visited Delhi, Mumbai, Kerala and Goa to explore the possibility of identifying Joint Venture partners to set up atleast five mid-size hotel properties in these states.
The initiative was taken by the largest corporate house of Mauritius with the signing of economic ties between the two nations during the visit of Prime Minister Dr Navinchandra Ramgoolam five months ago.
The economic agreement also envisaged the options of making the Indian rupee a free float currency in Mauritius without any official barier.
''We intend to invest about USD 100 million in atleast five potential joint ventures to develop a range of hotels in India'', Mr Noel told sources here.
Rogers is the founder of the largest Beachcomber Group of Hotels in Mauritius and has developed a chain of 7 hotels in the three-star segments.