has entered into an agreement to franchise its Hampton by Hilton brand to Marigold Hospitality Limited in India. Marigold Hospitality
aims to franchise 16 hotels (approximately 2,000 rooms) under the Hampton by Hilton brand in India.
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 India.
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 hotels is planned to open in the next two
Marigold's commitment is anticipated at US$200-250 million. 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.
Koos Klein, President, Hilton Hotels - Asia Pacific
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. Through multi-unit deals like this, we are well positioned to cater to the growing demand for focused service
hotels and tap the powerful economic growth and demographics in India. It is our goal to become a nationwide hotel company in India,
across the market segments.”
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