Marigold Hospitality franchise for Hampton by Hilton
New Delhi, Apr 22 (UNI) Hilton Hotels Corporation today said it has entered into an agreement to franchise its Hampton by Hilton brand to Marigold Hospitality Ltd in India, with Marigold investing 200-250 million dollars towards the deal..
Marigold Hospitality aims to franchise 16 hotels (about 2,000 rooms) under the Hampton by Hilton brand in India, said a statement.
The hotels will be managed on behalf of Marigold Hospitality by Palm Hospitality, a member of the Palm Holdings group of businesses.
Marigold Hospitality is a joint venture between Palm Holdings and Trikona Capital, created to invest in and develop hotels in the country.
The deal is set to launch the Hampton by Hilton brand in India and Marigold Hospitality expects to secure initial sites in the first half of 2008, with commencement of construction works this year.
The first of the 16 Hampton by Hilton(tm) hotels is planned to open in the next two years.
Marigold's commitment is anticipated at 200-250 million dollars.
Marigold will acquire and develop the sites and Hilton Hotels Corporation will provide expertise in site selection and brand, marketing, technical and technology support, with Palm Hospitality managing the hotels, the statement added.
Hilton
Hotels
Asia
Pacific
President
Koos
Klein
said,
''This
is
a
great
opportunity
for
us
to
get
a
foothold
in
the
business
hotel
sector
in
India
as
one
of
the
first
international
hotel
companies
to
offer
business
travellers
in
India
top
quality
focused
service
accommodation
on
the
road.
It
is
our
goal
to
become
a
nationwide
hotel
company
in
India,
across
the
market
segments.'' Marigold
Hospitality
and
Palm
Hospitality
Chairman
Ash
Taneja
said,
''We
expect
it
to
be
a
hit
among
travellers
in
India
who
want
quality
at
competitive
prices.
The
business
market
poses
a
great
business
opportunity
in
India.''
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