VITS Hotels signs Joint Venture with Exhicon in Thailand
Indian hospitality company VITS Hotels Worldwide Pvt. Ltd., has announced the signing of a 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 (above), managing director for VITS Hotels Worldwide 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’strongbrand 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”
VITS Hotels Worldwide’s CEO, Mr. Chandrakant Shetty (main picture), 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.”