Mandarin Oriental Enters India
BERMUDA, March 20, 2006. Mandarin Oriental Hotel Group has entered India through a wholly owned subsidiary after an earlier unsuccessful attempt to set up shop in the country six years ago, Business Standard reported, citing sources close to the development.
It said Mandarin Oriental Ltd, the Bermuda arm of the global hotel major, which is part of Jardine Matheson Group, sought permission from the Foreign Investment Promotion Board a fortnight ago to set up a company in India.
The group's previous attempt to set up operations here did not materialise due to differences with its local partner, Indian Hotels & Health Resorts, the report said.
The global major plans to operate in management and consultancy services to begin with and would make investments in hotels and other hospitality and tourism ventures in the future, the newspaper cited sources as saying.
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