Indian Hotels Company Limited (IHCL) has signed an agreement with the hospitality platform Madison, a joint venture (JV) between Terminus Group and JV Ventures, to expand the Ginger brand in the southern states of India.
A total of ten Ginger hotels with more than 1,000 keys will be rolled out under the operating lease agreement.
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IHCL real estate and development executive vice-president Suma Venkatesh stated: “Ginger represents IHCL’s strategic response to capitalise on the growing opportunity in the midscale segment in India for the aspirational traveller.
“The brand with its relevancy straddles all city categories and destinations from metros, state capitals, commercial centres, industrial townships, pilgrimage sites and leisure hot spots.
“Signing of this framework agreement for ten Ginger hotels across the southern states is reflective of this potential. We are delighted to expand the Ginger brand with Madison, the hospitality platform of Terminus Group and JV Ventures.”
The new locations will be developed mainly as greenfield and brownfield projects.
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By GlobalDataThe first branded hotel will be a 75-key Ginger hotel in Genome Valley in Telangana.
The hotel will feature an all-day dining venue, a fitness centre and meeting spaces, catering to the needs of business travellers.
Madison co-founder SP Reddy said: “Ginger Genome Valley asset will support Genome Valley Industrial corridor with its modern business facilities and social spaces to foster collaboration within this dynamic ecosystem.
“Significantly, this marks the first time such a comprehensive hospitality offering is available within the cluster, after over two decades of its operation.”
JV Ventures co-founder Jasmeet Chhabra added: “Madison will roll out ten Ginger Hotels with over 1,000 keys with an estimated outlay towards construction cost of Rs5bn across industrial and spiritual towns in southern India over the next three years in partnership with IHCL.”
Earlier this month, IHCL revealed plans to bring the Taj Hotel brand to Naina Tikker, Himachal Pradesh, India.
