Gold Souk forges Strategic Alliance with Wyndham Hotel Group

Leading real estate developer Aerens Gold Souk International Ltd. (AGIL) is venturing into the Indian hospitality sector through a strategic alliance with US-based hospitality giant Wyndham Hotel Group.

Announcing the signing of a franchise agreement on April 4, 2011 at Hotel Imperial, New Delhi; AGIL will build four hotels - one each in Kochi, Chennai, Ludhiana and Hisar under Wyndham Hotel Group’s Ramada brand. Plans to set up four to six more hotels in Karnal, Doraha, Jagadhari and Ambala under Ramada’s brand are going on. Also, in pipeline are talks of setting up a Hotel Management Academy/Company in collaboration under the guidance and technical know how of Wyndham Group.

Ashish Gupta, Vice Chairman and Joint Managing Director, Aerens Gold Souk International Ltd. said: “We are delighted to partner with Wyndham Hotel Group for our expansion into the hospitality sector. This strategic alliance is a major step in the overall Aerens Gold Souk International Ltd. strategy of creating a Pan-India presence and strengthening our position in the hospitality sector in the next five years.”

Elaborating further, Subhash Verma, CEO, Aerens Gold Souk International Ltd. added: “The Ramada brand has a loyal following across the globe and will appeal to international business and leisure visitors, the expatriate community, as well as Indian businessmen and professionals.”

Ken Greene, Wyndham Hotel Group president and managing director, Asia Pacific, said: “We are delighted to be working with renowned real estate company, Aerens Gold Souk International Ltd., for the first time on these four exciting projects. We are confident that this will be a successful partnership in bringing great quality, great value accommodation to the growing Indian hospitality market.”

About the Ramada hotels
With an investment of 500 crores, Aerens Gold Souk International Ltd. will oversee construction of the properties and ensure that they meet international brand standards. The hotels will include facilities such as  an all-day dining restaurant, lobby lounge, outdoor swimming pool, fitness center, business center, WIFI internet connectivity, spa, banquet space and meeting rooms with other facilities.