Rendezvous Enters Indian Market With Exciting Joint Venture Company
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Rendezvous Enters Indian Market With Exciting Joint Venture Company
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Category: Asia Pacific - India - Industry economy
- New brands / Affiliations
This is a press release selected by our editorial committee and published online for free on 2008-09-15
Rendezvous Hotels & Resorts International ("RHI"), a subsidiary of the listed Singapore company, The
Straits Trading Company Limited, has entered an exciting new phase of its rapid international expansion,
with the announcement of a joint venture agreement with Chennai based Indian developer XS Real
Properties, pioneer of bungalow apartments in Chennai. The joint venture company (JVCO) which will be
called Rendezvous India Hospitality Private Limited will manage hotels and resorts in the dynamic Indian
market, where the government estimates an additional 150,000 additional hotel rooms are required to meet
demand in areas such as Mumbai, Delhi and Chennai.
Rendezvous India will act as a substantial catalyst in RHI’s growth, facilitated by XS Real Properties
established and impressive track record in the Indian market. XS Real has been a prominent property
developer in this region since 1995, and has won numerous building awards.
RHI will own 51% of the JVCO, undertaking the day to day responsibility for the JVCO, opening and
operating the hotels under its management and brands: Rendezvous Hotels & Resorts and Marque
Hotels. Meanwhile, XS Real Properties will use its terrain, local market and network expertise to introduce
new business opportunities to the JVCO. In addition, they will support RHI in understanding local market
conditions, developing contacts, business and brand building strategies, and will help to ensure a secure and
prosperous entry for RHI into this exciting market.
Chief Executive of Rendezvous Hotels & Resorts International, Mr Alan Featherby, says, "This JVCO
presents a great opportunity for Rendezvous to enter one of the region's fastest growing hotel markets with a
reputable local partner. We are thrilled to be working with entrepreneurs of the calibre of Mr Prabhakaran
and his executive team and understand their considerable expertise will mean mutual benefits for both
companies. This complements our recently announced move into the Middle East and supports our already
strong growth in other regional areas, particularly China, South East Asia and Australia".
Mr. S.G. Prabhakaran, Vice Chairman, XS Real Properties informed the media that XS Real will use its
local knowledge and expertise to support the JVCO with infrastructure and opportunities to sign up hotels
under the JVCO. “ XS Real will also support Rendezvous Hotels & Resorts International in understanding
local market conditions, developing contacts, and business and brand building strategies, and will help to
ensure a secure and prosperous entry for Rendezvous Hotels International into this exciting market,” he said.
Mr. S.G. Prabhakaran further added that with an acute shortage of hotel rooms in India across the mid
and luxury segment the JVCO brings in two brands, Rendezvous and Marque which can address the needs
of this segment. XS Real is a premium real estate developer that has set high standards of quality and
character to its constructions. The tie up with Rendezvous will give XS Real the partner it required to enter
the hospitality field. The entry into this field will see XS Real move up the value chain and to use its
expertise in building and construction for asset management While explaining the marketing strategy Mr.
Prabhakaran said , “ Stand alone hotels which are not able to retain their market share for the lack of a
brand, international expertise, network would be the ideal partners to enter management contracts”.
RHI’s sales network and representation at all major international and regional trade shows and events,
ensures access to significant leisure and corporate accommodation programs. Via its partners, they also
offer connectivity to more than 600,000 travel agents worldwide, with seamless display to Global Distribution
Systems, plus online booking with all of the global and regional online travel sites, as well as
www.rendezvoushotels.com or www.marquehotels.com
A Joint Venture agreement was signed today in Chennai.
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