The hotels will be managed on behalf of Marigold Hospitality by Palm Hospitality, a member of the Palm Holdings group of businesses. Marigold Hospitality is a joint venture between Palm Holdings and Trikona Capital, created to invest in and develop hotels in India.
The deal is set to launch the Hampton by Hilton in India and Marigold Hospitality expects to secure initial sites in the first half of 2008, with commencement of construction works this year. The first of the 16 Hampton by Hilton hotels is planned to open in the next two years.
Marigold's commitment is anticipated at $200-250 million. Marigold will acquire and develop the sites and Hilton Hotels Corporation will provide expertise in site selection and brand, marketing, technical and technology support, with Palm Hospitality managing the hotels.
