Saturday, April 9, 2011

Gold Souk inks franchise pact with Wyndham Hotel

Leading real estate developer Aerens Gold Souk International Ltd (AGIL) is venturing into the Indian hospitality sector through a strategic alliance with US-based hospitality giant Wyndham Hotel Group. The company has signed a franchise agreement to build four hotels -- one each in Kochi, Chennai, Ludhiana and Hisar under Wyndham Hotel Group’s Ramada brand. It further plans to set up four to six more hotels in Karnal, Doraha, Jagadhari and Ambala under Ramada’s brand.

Amit Gupta, vice chairman and managing director, Aerens Gold Souk International Ltd, said: “We are delighted to partner with Wyndham Hotel Group for our expansion into the hospitality sector. This strategic alliance is a major step in the overall Aerens Gold Souk International Ltd. strategy of creating a Pan-India presence and strengthening our position in the hospitality sector in the next five years.”

Elaborating further, Subhash Verma, CEO, Aerens Gold Souk International, added: “The Ramada brand has a loyal following across the globe and will appeal to international business and leisure visitors, the expatriate community, as well as Indian businessmen and professionals.”

Ken Greene, Wyndham Hotel Group president and managing director, Asia Pacific, said: “We are delighted to be working with renowned real estate company, Aerens Gold Souk International for the first time on these four exciting projects. We are confident that this will be a successful partnership in bringing great quality, great value accommodation to the growing Indian hospitality market.”

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