InVision Hospitality targets 30 hotels in Asia via new JV
19 January 2011
Thailand-based company InVision Hospitality has merged with Singapore-based investment company Cinnovation/CG to create Zinc | InVision Hospitality.
Cinnovation/CG is part of the Nepal-based global conglomerate Chaudhary Group.
Under the new structure, the management, consultancy and advisory services firm said it aims to open 30 hotels in Asia by 2013. The growth will be financed in part by Z-I Capital Partners, an investment fund set up by the partners of Zinc | InVision Hospitality with the backing of other investors.
"The creation of Zinc | InVision Hospitality marks the arrival of a formidable hotel management company and fresh brand offerings in the Asian hotel and hospitality arena. Cinnovation | CG has the financial depth and hospitality background to support the growth while InVision has the depth of experience and hospitality know-how to execute all elements of technical, sales & marketing and operating activities. We expect phoenix-like growth in the next few years,” said Zinc/InVision Hospitality CEO Kevin Beauvais.
Founded in 2007 as Invision Hospitality, the company offers seven brands - Zinc City, GLOW STUDIOS, Zinc Edge, Zinc Living, Zinc Journey, SOMA, and Touch by Zinc – targeted at all market segments.
It currently manages five properties in Thailand: Zeavola Resort on Koh Phi Phi, Villa Maroc in Pranburi, Swiss Park Hotel in Bangkok, GLOW Trinity Silom in Bangkok and Northgate Ratchayothin Serviced Residence and has two hotels in Malaysia under development.
Additional development plans for the brands include the opening of two additional Zinc City hotels in India in 2013, a first SOMA resort in Malaysia in 2012, and five Zinc Journey properties in China, Thailand and Sri Lanka by 2012.
"I am excited and extremely confident about bringing the innovative hotel brands we have created within Zinc | InVision Hospitality to the global market. We aim to succeed by anticipating social trends and the emerging demands of hotel customers and matching these with well-designed hotels and well-trained staff,” commented Cinnovation | CG President, Binod Chaudhary.
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