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Announcing the joint venture, Ajay K Bakaya, Executive Director, Sarovar Hotels & Resorts, said, “We are delighted to announce our partnership with the Louvre Group possessing a majority in Sarovar Hotels. Our expansion will benefit in tapping a larger market than India. Through this partnership, we will soon mark our presence in New York and Paris. This is the first time people will witness a large Indian company that has tied up with a Chinese company that has presence across the world.”
Anil Madhok, Managing Director, Sarovar Hotels & Resorts, said, “The way to grow within the current Indian hospitality diaspora is no longer developed in isolation. We are extremely pleased to tie up with the Louvre Group which will help furthering Sarovar Hotel’s expansion in India and Africa.”
“Our brand has its presence in almost every country in the world and our aim is to expand in every country with the help of an efficient local partner, who carries the expertise and outreach which in India has happened with the help of Sarovar Hotels,” Pierre-Frederic ROULOT, CEO, Jing Jang Europe.
Saurabh Chawla, Head of Group Development, Louvre Hotels Group, remarked, “It’s a very exciting moment for us to partner with Sarovar Hotels in India. We have entered in India with such significant brand and its partnership due to Sarovar’s highest penetration into the country’s hospitality space with its outreach in over 44 cities. Also, it is strategically important at two levels, firstly at the group level which signifies the impact of our partnership and at a group level it is a great fleet for us.”
Louvre Hotels Company is the second largest European company within Europe. Collectively, with their share based on ownership they are the fifth largest company. The company is a part of Jing Jang Internationals, which is a larger Chinese conglomerate based out of Shanghai. In China, through Jing Jang Louvre Group have about 4, 300 hotels. Currently, Louvre Group has presence in North America, Canada, South America, Africa, Middle East, Russia and South Asia.
Additionally, Sarovar Hotels will commence operations for its new property in Nairobi Airport along with Jaisalmer, Ranchi and Amritsar shortly this year in India.
Source: travelnewsdigest.in