NEW YORK: Indian-American hotelier
Sant Singh Chatwal
has signed an agreement to expand its business to India with opening of a luxurious hotel in New Delhi in 2019.
The Chatwal-led
Dream Hotel Group
signed the hotel management agreement here on Monday with
Viiking Ventures
chairman
Sachiin Joshi to open the Dream Hotel in the Indian capital.
Set to open in West Delhi's central business district,
Dream New Delhi
will feature 187 guest rooms and suites and other hi-end amenities.
Chatwal said with Dream Hotel Group's "unprecedented growth and high-velocity expansion, we are well positioned to triple our existing portfolio in less than five-years."
The agreement comes on the heels of the company's major international expansion plans with nine new hotel signings across all four brands - Dream Hotels, Time Hotels, The Chatwal and Unscripted Hotels.
With 16 hotels currently open and an additional 26 properties in the pipeline, Dream Hotel Group will substantially increase its global footprint over the next four years; tripling its existing portfolio by 2022, Chatwal said.
Additional signed locations by Dream Hotel Group include Dallas, Vietnam, the Maldives and the Dominican Republic and represent $750 million in new hotel development, all with independent development partners.
"India is among the fastest growing economies and we are excited to take the hospitality industry in this country to new heights" with the tie-up with Chatwal, Joshi said.