Interstate Hotels & Resorts announced today that its India-based joint venture management company, JHM Interstate Hotels India, will open its first managed hotel in India, the 115-room Four Points by Sheraton Jaipur, City Square, in October.
“With the opening of this hotel, we will add a sixth country outside of the United States, our first in the Asia Pacific region, to our management portfolio as we continue to extend our reach internationally,” said Thomas F. Hewitt, chairman and chief executive officer. “India remains one of the world’s fastest-growing economies, with projected growth of 5 to 6 percent this year despite the global economic downturn.”
Jaipur is part of India’s Golden Triangle, along with Delhi and Agra, site of the Taj Mahal, and has long been a major tourist mecca. More recently, the city, which is the capital of the state Rajasthan, has become a hotbed of economic development activity, which is decreasing its reliance on leisure business alone and attracting growing numbers of business travelers with a need for lodging. In June, Jaipur opened a new international airport, dramatically improving domestic and international access to the city. “We believe the Four Points brand will appeal to both travel groups, with its exceptional amenities, comfortable and stylish décor, and value pricing,” he added.
Located in the new City Square, at Vasundhara Colony, Tonk Road, the newly-built, four-story, upscale hotel is situated near M1 Road, the city’s commercial hub, convenient to major government and business organizations, universities and the new international airport. The City Palace, Amber Fort, Hawa Mahal, and other popular tourist attractions are within easy access of the hotel. The property also is a short walk from the city’s most notable shopping, restaurants, bars, and movie theaters.
“This is the first of more than 20 projects Duet India Hotels intends to develop throughout India over the next few years, which represents a significant and reliable pipeline of management contracts for us,” said Leslie Ng, Interstate’s chief investment officer. “Duet is targeting secondary and tertiary cities, areas where we believe the need for hotel rooms is most acute.”