Carlson Aquires Majority Stake in India Venture
JULY 5, 2007. Carlson Wagonlit Travel now holds a majority stake -- 76 pct -- in its Indian joint venture Indtravels Private.
Carlson Wagonlit raised its stake by buying a further 26 pct from Indian firm AFL Private, which was hitherto a 50 pct partner.
This joint venture, which holds top position in the Indian business trip market, saw its sales grow from 42 mln usd in 2000 to more than 230 mln usd in 2006, Carlson Wagonlit said in a statement.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
