Mushtaq Group Signs Rs 1000 Cr Deal With Carlson Rezidor To Open 7 Hotels In JK14 December 2015
New Delhi: Mushtaq Group of Hotels signed a portfolio agreement with one of the world's largest hotel companies, Carlson Rezidor Hotel Group, on Monday to open seven hotels in Jammu and Kashmir. The Rs 1000 crore deal will be a major boost for tourism in the state. According to the agreement, seven hotels with 817 rooms will be opened under Radisson Blu, Radisson and County Inns and Suites by Carlson brands in the state. The first hotel is expected to open in the fourth quarter of 2016 in Srinagar. Speaking at a press conference at Radisson Delhi, President, Asia Pacific, Carlson Rezidor Hotel Group, Thorsten Kirschke said: 'This multiple-hotel portfolio deal underscores the rapid rate of Carlson Rezidor's expansion and reinforces our leading position in India, a key market that we remain deeply committed to.' 'We are pleased to be forging a new partnership and will be employing our proven strategy of signing conversions as well as new build properties to establish a strong brand presence efficiently and expediently,' said Kirschke. Elaborating on the importance of the deal, he said: 'This day is special for us also because two families are coming close to each other for greater good. As you as know Carlson is a family run business so is the Mushtaq Group of Hotels.' A visibly happy Chairman of Mushtaq Group of Hotels, Mushtaq Chaya said the partnership will help realize his dream of making Kashmir a preferred tourist destination globally. 'We are excited to tie up with Carlson Rezidor Hotel Group. We are a leading hospitality group with ownership across all major locations in Jammu and Kashmir. We have grown rapidly during the last decade and aim to continue this momentum,' he said. 'Our vision is to promote J&K and make it a preferred tourist destination not only for travelers within the country but globally. I am confident our partnership will accelerate realization of our vision,' Chaya added. Chaya said Carlson's international reputation prompted him to hand over operation management of seven existing hotels. 'Carlson needs no introduction in terms of their services. I am myself very impressed with their expertise in hospitality sector. So, without any doubt, we have decided to entrust operation management of our seven properties located in the state to them,' he said. 'The deal is worth Rs 1000 crore approximately,' Chaya added. Carlson Rezidor has close to 120 hotels in operation and under development across India. Currently, the group's footprint extends across 45 Indian cities, including 14 state capitals. By 2020, Carlson Rezidor expects to have more than 170 hotels in operation and pipeline in India. The group's growing brand portfolio in the country spans the mid-scale to upper upscale segments. In 2015, the hotel group signed 15 new agreements in India, indicative of the strength of its brands and relationships. THE '7 STARS' OF JK 1. Radisson Blu Srinagar: A 225-key new build hotel, located around 3 kilometers from the city centre and 10 kilometers from Srinagar airport. It is scheduled to open in the second quarter of 2020. 2. Radisson Blu Resort Tangmarg: A 150-key new build hotel, 13 kilometers from Gulmarg regarded as one of the top winter sports destinations of the world. It is scheduled to open in the fourth quarter of 2021. 3. Radisson Srinagar: An 89-key conversion located within 2 kilometers of the main commercial hubs of the city. It is close to city's main tourist attractions. It is scheduled to open in the fourth quarter of 2016. 4. Radisson Pahalgam Golf View Resort: A 118-key conversion located in Pahalgam. It is scheduled to open in the third quarter of 2018. 5. Country Inn & Suites By Carlson Gulmarg: An 80-key conversion is scheduled to open in the first quarter of 2020. 6. Country Inn & Suites By Carlson Jammu: A 55-key conversion located in Gandhi Nagar in the heart of Jammu city. The hotel is close to Jammu Airport and Jammu Railway Station. It is scheduled to open in the third quarter of 2017. 7. Country Inn & Suites By Carlson Sonamarg: A 100-key new build hotel located close to scenic Himalayan glaciers and trekking routes in Sonamarg. It is scheduled to open in the fourth quarter of 2018.