News Point: Global hospitality major enters Indian market for serviced residences; developers sense big business.
JNB Group and BridgeStreet Global Hospitality have forged partnerships with three Indian real estate developers; IDI, AIPL and CHD. This collaboration will provide quality assurance, marketing and global sales benefits for guests, developers and investors.
With these new partnerships, JNB and BridgeStreet will be co-branding 183 units of IDI in Noida, 100 units of AIPL in Sector 66A, Gurgaon and 364 BHK units of CHD in Sector 106,Gurgaon.
BridgeStreet has already signed with developers like Silverglades, V Square, Homestead and Logix for 1600 units in Delhi and the National Capital Region of India and will have 500 functional units by the end of 2016.
“We plan to have 5000 fully operational units within five years in pan India, adding to the 50,000 BridgeStreet units worldwide,” said Sean Worker, president and CEO of BridgeStreet Global Hospitality.
JNB and BridgeStreet have been working together in India since 2012. “This collaboration is key to BridgeStreet’s development of franchise and management opportunities, “ said Sean. “We are working together with JNB to build further investment and development projects in India.”
Elaborating about BridgeStreet’s brands, Worker explained, “Our family of brands includes six-star Exclusive, five-star Residences, four-star Mode Aparthotels and Living, three-star Places and two-star Studyo—offering the convenience of apartment living with a variety of service packages to match guest needs based on location, price point and individual preferences. We are looking to replicate the same experience here in India.”
“We feel that the Indian real estate market is one of huge promise as there is little in terms of supply of serviced apartments. Increasing demand from IT, consulting, banking, financial and automobile sectors will only create more opportunities. What is required is the right branding, quality assurance and on-time delivery. This will not only lead to price appreciation, but will also ensure growth,” says TJ Barring, President, JNB Group.
“Pure commercial and residential projects won’t do well in the coming years, a hybrid version which supports serviced apartments would have a much higher demand,” says Taran Kaur, Director JNB Group. “The benefits of JNB Group and BridgeStreet are regular rental income, high occupancy, fully-furnished apartments with contemporary décor, well-equipped kitchens to prepare your own meals, personal service with 24/7 emergency support, convenient monthly invoice that includes utilities and housekeeping, Internet access and concierge service.”
1 Comment
Good Morning Sir,
Greetings!!!
SIR, are you interested in extending hospitality business in India?
We are with you at your service. You can decide payment mode of your own way. We will receive money and hand over you, your desired property to your control.
Following are the branded,operational and budget hotels are to be liquidated ( valuations are completed ).
WEST
1) property: Emerald / location: Goa / Land area: 26230.19 sq.ft. / rooms 20 / Sale price:rs. 43.61 crores.
2) property: Cottages. (Colva Beach touch) / Location: Goa / Land area: 1,235 sq. mtr / rooms 22 / Sale price: rs. 19.29 crores
3) property: Sagar Kinara. (Beach Property) / Location : Malvan / Land arera: 16723 sq. ft. / rooms 28 / Sale price: rs. 25.40 crores
4) property: Lonavala (With Water park) / Location: Lonavala / Land area: 10, 114.24 sq.mtr / rooms 23 / Sale price: rs. 72.34 crores.
NORTH
5) property: Gurgaon*** / Location: Gurgaon / Land area: 93682 sqr. fts. / rooms 80 / Sale price: rs. 83.38 crores.
SOUTH
6) property: Hyderabad /Location: Hyderabad / Land area: 3002 sq. mtr. / rooms 82 / Sale price: rs. 85.00 crores.
7) property: Island Paradise, Kollam / Location: Kollam / Land area: 255.40 ares / rooms 25 / sale price: rs. 56.09 crores.
8) property: Sea Resort,/ Location: Alleppey/ land area: 4 acres-91 sqr. mtr. / rooms 24 /Sale price: rs. 40.55 crores
9) property: Mysore / Location: Mysore / Land area: 1384228sqr. mtr. / rooms 65 / Sale price: rs. 42.24 crores.
10) property: Ooty / Location: Ooty / Land area: 5 acres. / rooms 42 / Sale price: rs. 57.30 crores.
11) property: Kodaikanal / Location: Kodaikanal / Land area: 11.08 acres / rooms 32 / Sale price: rs.108.18 crores.
EAST
12) property: Mandarmoni / / Sale price: rs. 42.19 crores.
13) property: Kaziranga / / Sale price: rs. 42.86 crores
Please note following important information. This is in context with our properties:-
1) We are the owners of all properties, Panoramic Group of companies.
2) All properties are managed & operated by us.
3) We want to sell the properties that include land along with building & all licenses to run the business.
4) Buyer has to pay stamp duty along with registration charges at the time of registration of agreement.
5) Cottages in Goa property is in partnership form. Hence buyer can become partner & we can exit.
6) We can further share valuation report as & when required by the client/s
7) Prospective buyer can visit our property as guest threw us (Between 10 AM to 5 PM). As a management policy we don’t arrange for overnight stay for prospective buyer or any of their representative/s.
8) Buyer has to visit our Mumbai office for meeting with our Chairman & director. During the meeting we will share all necessary property documents.
9) Purpose of sale of properties: – We are expanding our IT vertical. No property is under distress sale.
Please visit our Photo Gallery website: Hotels & Resorts
Steps to be followed:
1). Be interested first, 2). Drop me a mail selecting particular hotel or group of hotels that you are interested to negotiate, so that I can hold them for the days, 3) I will send you our Mumbai office address and if required I will be with you there. 4) Many things can be discussed on meeting directly with our Chairman that you may ask on mode of payments, existing revenue structure, price negotiation, management of the business in future etc.etc. 5) simultaneously you may visit all the properties as guest for your satisfaction on giving names to me who will visit the respective property. I will arrange accordingly. 5) And finally complete the deal of registration at our Mumbai office with our Chairman.
When you start negotiation, you may deposit some portion of price amount & the remaining price amount you will pay at the time of registration of agreement.
In case of my service charges , it will be .5% on sale value.
Many more properties are there for which valuation are not yet completed:-
Please note: “Few properties in USA & large land bank in Karjat & Neral in Maharashtra is for sell too.”
SO,
Hospitality players interested to buy a chain of properties & make sizable presence in hospitality industry across India, please contact to the following mail address.
Regards,
Dr. Tarun Banerjee, M.Com., Ph.D.(Cal.)
Business Management Consultant.
e-Mail: banerjee.consultants@gmail.com
Mob : (0)9836731714