Germany-based hotel management and consultancy firm, RIMC International, has entered into a 50:50 joint venture agreement with Pune-based Sahil Group of Companies. The purpose of this collaboration is to manage and operate hotel projects in India. The newly formed joint venture, named RIMC Sahil India, aims to expand its portfolio significantly, with plans to operate about 20 properties across the country by 2012. To achieve this ambitious goal, the company has earmarked an investment of approximately three million USD over the same period.
Future Plans and Initial Operations
RIMC Sahil India will commence operations with six properties strategically located in various cities such as Mumbai, Pune, Kolhapur, Gurgaon, and Jaipur. These properties span different categories, catering to a wide range of customers.
Current Progress
Among the initial projects, two properties — one each under the three and four star categories — in Pune and a three star property in Jaipur are already under construction. These projects are scheduled to begin operations by mid-January 2009, marking a significant milestone for the joint venture.
Industry Potential and Growth
Speaking exclusively with Hospitality Biz, Vinay Phadnis, Chairman and Managing Director of Sahil Group of Companies, highlighted the potential within the Indian hospitality industry. He stated, "Due to immense potential within the Indian hospitality industry, RIMC wished to have a presence in this market. The alliance will also help accelerate our company’s growth and presence in the country."
This strategic partnership signifies a concerted effort by both RIMC International and Sahil Group to capitalize on the burgeoning hospitality sector in India, drawing synergy from their combined expertise and resources to establish a strong footprint in the market.