Absolute Hotel Services has formed a joint venture in India with KBJ Group and National Capital Management Pvt. Ltd. (NCMPL). The new company, called Absolute KBJ Hotel Services India was established to support the expansion of Absolute Hotel Services company in hotel management and advisory services in India, Bangladesh, Sri Lanka, Nepal and Maldives, and will begin operating from February 1, 2010 from its Bombay office.
Mr. Mark Heather is the regional general manager of the company. An initial management portfolio of 15 hotels and resorts with more than 1,500 rooms is expected to be announced throughout 2010.
Absolute KBJ Hotel Services India is a partnership with Absolute Hotel Services (60%), KBJ Hotels Ltd (20%) and National Capital Management Pvt Ltd (20%). The company will operate properties under five brands: U Hotels & Resorts, Eastin Hotels and Eastin Residences (owned by Absolute Hotel Services), and KBJ Hotels and KBJ Residences (owned by KBJ Hotels Ltd).
The brand of affiliation of hotels owned by KBJ, whether as members of U Hotels & Resorts, Eastin Hotels or Eastin Residences, will depend on the positioning of the property.
Mumbai-based KBJ Group, which has been in the jewelry business for three generations, now enters the hotel industry through development and management under KBJ Hotels Ltd. The first five hotel development projects will be concentrated in the northern part of India, including Varanasi, Bodh Gaya, Kushinagar, Khajuraho and Goa. Future development phases are planned to increase the portfolio to 15 properties.
Mr. Mohit Kamboj, Managing Director of KBJ Group, said: âThe Buddhist tourism circuit of India has immense potential, which is very untapped. There is a huge demand for quality hotel rooms in these places with a large influx of tourists from South East Asia. We want to create our first set of room inventories in these locations. “
Mr. Jonathan Wigley, CEO of Absolute Hotel Services Co. Ltd. and President of Absolute KBJ Hotel Services India added: expertise in their respective fields to benefit. National Capital Management Pvt. Ltd. is one of the India leader in financial management, project management and consultancy with on-going KBJ hotel development projects, and for us it is important to cooperate with market leaders in the long-term partnership framework. The agreement now signed will allow AHS to become a leading regional hotel company over the next few years. “