Soon a German hospitality presence is going to be seen in
the Indian soil for the first time. German luxury hospitality company, Steigenberger,
which operates 95 hotels across many countries, is entering to India by
partnering with MBD Group. The two companies have formed a joint venture
company that will operate, manage and franchise hotels in India under the MBD
Steigenberger brand.
The new company plans to open at least 20 luxury hotels in
India over the next 15 years. MBD currently owns and operates two hotels through
a franchise model with Carlson Rezidor's Radisson. MBD will hold 51% stake in
the new JV company while the rest will be owned by Steigenberger.
Of the 20 hotels that the Company is planning, at least 4-5
will be owned by MBD.MBD is already setting up a 184 room luxury hotel in
Bangalore that will be managed and operated by the JV. The Bangalore property,
expected to be operational by 2019, will have 118 service apartments priced Rs
2 crore onwards.
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