Betting big on the tourism potential of Jammu & Kashmir, global hospitality major Carlson Rezidor has inked a pact with Mushtaq Group of Hotels to open seven properties in the state entailing an investment of Rs 1,000 crore by the local partner.
The seven hotels comprising 817 rooms under the Radisson Blu, Radisson and Country Inns & Suites By Carlson brands will be in locations such as Srinagar, Jammu, Sonmarg and Pahalgam, among others.
Carlson Rezidor Hotel Group Asia Pacific President Thorsten Kirschke said the multiple-hotel portfolio deal underscores the rapid rate of the Group’s expansion and reinforces its commitment to the country.
The first hotel is expected to open in the fourth quarter of 2016 in Srinagar. Others will come up afterwards, with the last one to be operational by fourth quarter of 2021.
“With the signing of this portfolio (deal), we will make inroads into the summer and winter capital of Jammu and Kashmir, as well as provide our Club Carlson members an international brand choice in high demand leisure driven markets such as Srinagar, Pahalgam and Gulmarg”, Carlson Rezidor Hotel Group South Asia CEO Raj Rana said.
In India, the hospitality major has close to 120 hotels in operation and under development across 45 cities.
“The opening of these seven properties entails an investment of around Rs 1,000 crore. Our family owns the hotels while Carlson Rezidor Group will operate and manage the properties”, Mushtaq Group Chairman Mushtaq Chaya said.
Carlson Rezidor’s current portfolio includes more than 1,370 hotels in operation and under development with a footprint spanning over 110 countries and territories.
It owns global brands such as Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson and Country Inns & Suites By Carlson.