JAL Plans New Nikko Hotels in India
Will Operate Luxury Hotels for DB Hospitality Private Ltd
TOKYO, Japan, November 24, 2008. JAL Hotels Co., Ltd. has signed a comprehensive agreement with DB Hospitality Private Limited, based in Mumbai, to operate multiple luxury hotels for DB Hospitality in major Indian cities, such as Mumbai, Delhi, Kolkata, and Bangalore.
DB Hospitality Private Limited is the hospitality industry arm of the DB Group of companies, one of India's leading business groups. According to the agreement, DB Group expects to expand its portfolio of hotel assets in India and to have JAL Hotels manage a substantial portion of those assets. DB Group is expected to invest over $1 billion to expand its portfolio of hotel assets in India over the next four years.
The two companies have agreed that JAL Hotels will take over operation of some hotels starting in 2010. Under JAL Hotels' operation, these hotels will carry the Nikko Hotels International brand.
"JAL Hotels sees India as a rapidly growing, very attractive market, and looks forward to working with DB Hospitality Private Limited," said Katsumi Chiyo, president and CEO, JAL Hotels Co., Ltd. "This agreement allows JAL Hotels to expand our Nikko Hotels brand throughout India's major cities. We also intend to use this opportunity as a springboard, creating maximum synergy to speed up the growth of Nikko Hotels International in the Middle East and Europe. DB Hospitality is a good match for JAL Hotels, since it is very important to them for their luxury properties to be operated at the international, five-star level that our high-quality service can provide."
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