Duet India Hotels, an investor and developer of mid scale business hotels has signed an agreement with Starwood Hotels & Resorts Worldwide, to open the Four Points by Sheraton Jaipur City Square. The new build 115-room hotel at Jaipur has recently opened and will be managed by JHM Interstate Hotels, a joint venture between JHM Hotels and Interstate Hotels & Resorts, both US based hotel management companies.
?We are very pleased to partner with Starwood for the development of our hotel portfolio in India? said Henry Gabay, Chairman of the UK based Duet Group.
?There is no better time to be investing in the Indian hospitality market than now ?said Anuj Gupta, co founder of Duet India Hotels. He added that ?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.? DIH were recently in the news for their acquisition of the Dawnay Day hotel portfolio in December 2008.
Commenting on the agreement, Miguel Ko, President and Chairman of Starwood Hotels & Resorts, Asia Pacific ?Starwood has spent the last two years laying the groundwork for the debut of the Four Points by Sheraton brand in India, and 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.?
“The right ingredients are in place: a premier lodging brand, a management company internationally known for excellence, and an owner who accepts collaboration as the best approach to success,” said Vinay M. Rama, a Director at JHM Interstate Hotels. “We look forward to an exciting journey together.”