Continuing its international expansion, Louvre Hotels is preparing to become a major player in India, a key market in Asia, both in terms of the size of its population and its growing economic weight. Europe's second-largest hotel operator - and a subsidiary of China's leading Jin Jiang group - has just announced that it is acquiring a majority stake in Sarovar Hotels. Founded in 1994 by Anil Madhok, the group now owns 75 hotels, most of them under one of its three banners: Sarovar Premiere for the top end of the market, Sarovar Portico for the mid-range segment and Hometel for the budget segment. At the same time, Sarovar has also developed the Radisson, Park Plaza and Park Inn franchise brands.
"Sarovar Hotels has grown to become one of India's fastest growing hotel chains. This partnership with Louvre Hotels Group will help us spread our wings and further develop our brands," commented Anil Madhok, Executive Director, Sarovar Hotels. Sarovar Hotels has grown significantly over the last five years and now has 6,000 rooms in major cities across India, as well as recently in East Africa, in Nairobi, Dar Es Salaam and Juba, Sudan.
The two hotel groups will together continue to develop the Sarovar Hotels brands, but this merger should also accelerate the franchise development of Golden Tulip, Louvre Hotels' upscale brand already present in India with 22 establishments. Pierre-Frédéric Roulot, CEO of Louvre Hotels Group, was delighted with the acquisition: "Number two in Europe, number one in China, and now number one in India, we are now definitely a global player in all hotel segments.
