News for the Hospitality Executive |
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PARSIPPANY, N.J. (Dec. 8, 2006) � Wyndham Hotel Group,
the lodging unit of Wyndham Worldwide (NYSE: WYN), today announced
it has signed an agreement with Royal Orchid Hotels Ltd. of Bangalore,
India, to develop 10 Ramada® hotels totaling at least 1,000 rooms in
the Indian states of Karnataka, Tamil Nadu, Maharashtr, Andhra Pradesh
and Rajasthan.
Chender Baljee, Royal Orchid chairman, said his company would invest 5 billion Indian rupees, or about $100 million, to build four-star-quality Ramada hotels during the next three to four years. Steven. A. Rudnitsky, Wyndham Hotel Group president and chief executive officer, said India represents a �significant, ongoing opportunity� for hotel development in the Asia-Pacific region. He said a recent PricewaterhouseCoopers report indicates the India market will require up to 125,000 new hotel rooms in India during the next five years. �With international tourism receipts of $5.7 billion and a record 3.9 million foreign visitors in 2005, India is critically important to our Asia-Pacific development plans,� Rudnitsky said. �The agreement with Royal Orchid Hotels enables us to accelerate the expansion of our Ramada brand in the Indian market.� Wyndham Hotel Group franchises Ramada, Days® and Howard Johnson® hotels in India. Royal Orchid Hotels is one of the largest lodging chains in Bangalore. The company, established in 1973, operates four hotels: Hotel Royal Orchid, Royal Orchid Central, Royal Orchid Harsha in Bangalore and Royal Orchid Metropole in Mysore. As one of the world�s largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. This press release contains �forward-looking statements� within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, conveying management�s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements. |
Rich Roberts
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