Royal International enters pact to set up new company

Pune: Royal International Management Company (RIMC) GmbH, Hamburg, has entered into a joint venture with Pune-based Sahil Group and Inet Global Group of Switzerland to set up RIMC Sahil Hospitality India Pvt Ltd. The equity holding of the partners is 40:40:20 respectively.

The new company, headquartered in Pune, will manage hotels in India, Sri Lanka, Mauritius and Seychelles and the Asia Pacific region.

It will operate in three business segments, namely, takeover and operate existing hotels, conceptualise and plan for new properties and offer consultancy for hotel management.

Mr Gert Prantner, Managing owner, RIMC said the company specialised in tailor-made agreements and stood guarantee on returns for the investor. In Europe, RIMC currently has 1,500 rooms under its management and hopes to increase it to 6,100 rooms over the next few years.

The Indian arm’s first hotel is located in Pune, with three others at Mumbai, Kolhapur and Pune in the pipeline, Mr Vinay Phadnis, Chairman, Sahil group, said.

Elaborating upon the India plans, Mr Vaibhav Abhyankar, Director, Sahil Hospitality, said that the target was to manage 30 properties, 20-22 business hotels and the remaining in the luxury segment, totalling 3,000 rooms over the next five years. This will involve hiring of around 5,000 people, he added.