NEPAL’S multi-industrial, transnational CG Corp Global last week inked a strategic deal with Concept Hospitality, owner of the Fern brand in India.
Through the partnership, Concept Hospitality is now a part of CG Corp Global’s hospitality arm, CG Hotels And Resorts, which targets to grow to 200 hotels worldwide by 2020.
“Right now we cannot share details regarding the nature of the investment. We wanted CG Hotels & Resorts to have a much larger platform and there couldn’t be a better partner than Concept Hospitality. The partnership gives us a strong footprint in an important market like India,” said Binod Chaudhury, chairman, CG Corp Global.
CG Hotels And Resorts now has eight brands in its portfolio, including The Zinc, The Fern, Zinc Journey, The Fern Residency, Glow, Zinc City, Beacon and Zinc Living with 88 operational hotels in 11 countries.
“We were interested to have an investor on board who has a background in the hospitality sector. We are now drawing a plan for our expansion strategy,” said Param Kannampilly, managing director, Concept Hospitality.
“Africa is going to be one of the major thrust regions for CG Hotels And Resorts. To begin with, we are looking to open properties in around five countries in the African continent which we believe has a dearth of international hotel chains. The first property for which we have already acquired land will come up in Rwanda under The Zinc,” said Chaudhury.
CG Corp Global also has a joint venture with Indian Hotels Company to start Taj Safaris India and to operate the Taj Samudra Hotel in Sri Lanka and the Taj Exotica in Maldives, as well as a stake in Alila Hotels & Resorts, which has two resorts operating in Goa and Bengaluru.
