Worldwide Pvt. Ltd. has announced
signing of Joint Venture with Exhicon
Group in Thailand. The
collaboration will accelerate VITS brand of luxury hotels portfolio in the
global hospitality market. The new entity will operate under VITS-EXHICON (Thailand) Co. Ltd. and an
office with seasoned team of professionals will be established in Bangkok. Mr. Vikram Kamat and Mr. Chandrakant Shetty will be
Directors in the new entity.
The JV partnership will work on Hotel Acquisitions,
OTA Management, Staff Training, Procurement and F & B operations within Thailand, Malaysia, Singapore, Indonesia and Dubai. VITS Hotels will provide hotel management expertise,
marketing, sales support, human resources and distribution network while
EXHICON will support with its local business network, project acquisitions and
overseas procurement. Both VITS and EXHICON will own 50% share in the joint
venture management company.
Mr. Vikram Kamat, Managing Director, VITS Hotels Worldwide Pvt. Ltd.
said, “We are extremely proud to announce our joint venture with EXHICON Group.
Our partnership offers immense opportunities to leverage on each other’s
expertise to develop and expand the VITS hotel brand in Far East and Middle East.
We aim to channelize our resources with our valued partner to establish
footprints in key destinations and draw tourists from India and from across the
world. This agreement will effectively endorse VITS’ strong brand portfolio,
impeccable track record of providing world class hospitality management, human
resources & training, technology and innovation to cater to the potential
market in these regions.”
Chandrakant Shetty, CEO, VITS Hotels
Worldwide Pvt. Ltd. said, “With our collaboration with EXHICON Group we are now
pleased to announce the VITS luxury experience in overseas shores. The joint
venture will create a formidable recipe for successfully establishing hotels in
key destinations. We will be launching our first hotel in Phuket near Patong beach
by January 2018. This would be followed launches in Bangkok and Pattaya by mid
2018. As part of our expansion we plan to take over 15 hotels primarily in
Thailand and Malaysia within the next three years. The joint venture agreement
will also entail managing a dedicated online travel agency for our owned hotels
and other standalone brands in the region.”
VITS hotel is presently operational in 10 locations in
India namely Mumbai, Pune, Dwarka, Amritsar, Aurangabad, Latur, Ankleshwar, Silvassa, Agra and Bhubaneswar.
The Hotel chain presently has inventory of 700 rooms with host of banqueting,
conferencing, restaurant and lifestyle facilities. EXHICON Group is one the
prominent player in Events, Exhibitions, Media and & Multipurpose Event
Venue Company. The company has now earmarked its space in the hospitality
market in Thailand and operates 3 Hotels and F&B businesses. Both VITS and
EXHICON have been previous associated in creation of Orchid Convention Centre, the biggest multipurpose event venue in