CG JV plans to operate 30 hotels in Asia

KATHMANDU, Jan 18: Chaudhary Group (CG) in partnership with Thailand based InVision Hospitality has started a joint venture to brand and operate 30 hotels in Asia by 2013. The ambitious project -- Zinc|InVision Hospitality (ZIH) - is a joint venture of InVision Hospitality and Singapore-based investment company Cinnovation|CG which is a part of Chaudhary Group.



Binod Chaudhary, president of Cinnovation|CG and Kevin Beauvais of InVision Hospitality launched Zinc|Invision Hospitality (ZIH) amid a ceremony in Bangkok on Tuesday, said a statement issued by Chaudhary Group.[break]



Zinc|InVision Hospitality (ZIH) has an initial fund of $170-180 million, 51 percent of which is held by Cinnovation|CG and the remaining 49 percent by InVision. The initial fund will be spent on 30 hotel projects across Asia, including Thailand, UAE, the Philippines, Sri Lanka, India, Malaysia, China and Nepal. ZIH has already finalized 25 projects where the company will co-invest with local investors.



According to Bangkok Post, InVision wants to expand its hotel business beyond Thailand as tourism there has slowed down due to political uncertainties. InVision Hospitality was established in May 2007 and manages five hotels in Thailand



Chaudhary is accompanying Beauvais on a five-city tour of Asia to launch Zinc|InVision Hospitality. Speaking at the launching ceremony in Bangkok, Chaudhary said, “I am excited and extremely confident about bringing the innovative hotel brands we have created within Zinc|InVision Hospitality to the global market. We aim to succeed by anticipating social trends and the emerging demands of hotel customers and matching these with well designed hotels and well trained staff."



The Zinc|InVision Hospitality will incorporate the expertise of the existing 35 person InVision staff and various professionals from the Cinnovation | CG corporate structure, in addition to hiring new senior level talent to drive targeted growth, the statement added.



Zinc|InVision Hospitality already holds seven brands, including two mid-scale labels of Zinc City and Glow Studios, four-star brand Zinc Edge, small boutique hotel Zinc Journey, spa and wellness hotel Touch by Zinc, residential and serviced apartment Zinc Living and five-star hotel brand Soma.



Beauvais, who has over 30 years experience in hotel development and management, said the creation of ZIH marked the arrival of a formidable hotel management company and fresh brand offering in the Asian hotel and hospitality arena. According to the statement, he said Cinnovation|CG had the financial depth and hospitality background to support the growth. He also added that the company was expecting ´phoenix-like´ growth in the next few years.



Projects in the pipeline



Zinc|InVision Hospitality is opening a Glow Studio along with Zinc Spa and Wellness Retreat in Nepal by 2013. Similarly, it also plans to bring into operation Zinc Edge deluxe hotel in Nepal within 2013.



According to the statement, Zinc City Greater Noida near New Delhi is scheduled to open in 2012. It will target value conscious urban traveler. The group is planning two additional Zinc City hotels at Cochin and Surat of India. Similarly, the first SOMA resort is scheduled to open in Malaysia in 2012, according to the statement.



Two Zinc Journey Cultural heritage resorts are already in operation, while five more are scheduled to open by 2012. Living properties for long-stay travelers and residential living are scheduled to open in Bangkok in 2011, Dubai in 2012 and Pattaya 2013, according to the statement.

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