Jones Lang LaSalle Hotels successfully completes the management contract negotiation
The Indian Hospitality sector continues to be promising despite the recessionary conditions. Numerous global hospitality brands are on a look out for a suitable opportunity to leverage the long term prospects that the Indian hospitality industry possesses. Swissôtel, owned by Fairmont Raffles Hotels International is a leading global hospitality company with 91 hotels and resorts worldwide.
Commenting on this alliance, Mr. Harsh Neotia, Managing Director, Bengal Ambuja stated, “This is a synergy of two powerful brands with a vision to create iconic hospitality destinations in the country. We welcome Swissôtel to India and believe that this will set the foundation for high quality leisure and hospitality experience in the country.”
Jones Lang LaSalle Hotels, a leading hospitality consultancy, facilitated this successfully alliance. “It was a perfect case of right product, right partners and shared vision. It's a strategic partnership with a long term vision to create a brand name on the Indian Hospitality landscape. Swissôtel is an internationally renowned brand and this will clearly contribute to maximizing returns for Bengal Ambuja Realty” says Sudeep Jain, Executive Vice President, Jones Lang LaSalle Hotels, India.
Jones Lang LaSalle Hotels acted as an exclusive advisor to Bengal Ambuja Housing Development Limited in the selection of an operating partner and the negotiations of the management contract. Sudeep Jain led the selection and negotiation process on behalf of the Owners. Sudeep added that “The successful negotiation and execution of management agreement demonstrates the firm’s ability and global experience in successful closure of contract negotiations.”
About Swissôtel Hotels & Resorts
Swissôtel Hotels & Resorts is an established group of deluxe upper-upscale hotels originating from Europe; combining the renowned Swiss flair with a fresh, innovative, modern and contemporary design, while delivering individual service with efficiency and charm to global business and leisure travellers. Swissôtel Hotels & Resorts is neutral, sensitive to local culture, and strongly engaged in environmental and social care. The Swissôtel Brand is a true alternative to the established brands available today; fresh, innovative and contemporary designs.
Swissôtel is owned by Fairmont Raffles Hotels International, a leading global hotel company with more than 90 hotels worldwide under the Raffles, Fairmont and Swissôtel brands. The company also manages Fairmont and Raffles branded Residences, Estates and luxury private residence club properties.
About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network. In 2008, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on over $3.7 billion worth of transactions globally relating to more than 120 assets. In addition, advisory and valuation services were provided on more than 600 assignments. The global team comprises over 200 hotel specialists, operating from 36 offices in 19 countries. The firm's advice is supported by a dedicated global research team, which produced 87 publications in 2008 in addition to client research. Jones Lang LaSalle Hotels' services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels' clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL). www.joneslanglasallehotels.com.
About Bengal Ambuja Private Ltd.
Bengal Ambuja was started with the supported of the Government of West Bengal, one of the first joint sector companies in the state. This led to the creation of a pioneering Public-Private Partnership which holistically addresses housing demand across all sections of society through a cross-subsidised model that allocates 50% of all the homes for LIG and MIG, with the rest for HIG.
The group has now diversified into various real estate categories to include - residential, retail and commercial, hospitality (resorts, hotels, spas, restaurants, clubs), healthcare (multispeciality hospitals, clinics and research) and education. Some of the successful forays for the group have been with the projects mentioned above along with City Centre, Salt Lake, The Ffort Raichak, Ganga Kutir Resort and Spa, Ecospace, Swabhumi, Bhagirathi Neotia Woman and Child Care Centre, Afraa Lounge and Restaurant, Afraa Deli, Institute of Technology and Marine Engineering and the upcoming City Centre New Town.
Building on this experience and expertise, Bengal Ambuja now has a ready pan-India growth strategy to deliver an unprecedented number of high-quality projects in the forthcoming years. In addition to holistic residential townships, the group is developing more malls, hospitals, IT Parks, luxury resorts, business hotels and is even aspiring to build a University. For more information, visit www.bengalambuja.com
