News for the Hospitality Executive
|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
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.
|Also See:||Hindustan Construction Company Ltd. Selects Accor as the Operator for the First Two Hotels Within its Pioneering Lavasa Township near Pune, India / December 2006|
|The Asian Lodging Development Pipeline Moving at a Feverish Pitch; China and India Under Roomed / October 2006|
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