VITS Hotels Worldwide has signed a joint venture (JV) agreement with Exhicon Group in Thailand. The new entity will operate under VITS-Exhicon (Thailand) and an office with seasoned team of professionals will be established in Bangkok. The JV partnership will work on hotel acquisitions, OTA management, staff training and procurement within Thailand, Malaysia, Singapore, Indonesia and Dubai. Both VITS and Exhicon will own 50 per cent share in the JV. Vikram Kamat and Chandrakant Shetty will be Directors in the new entity.
“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,” Vikram Kamat, MD, VITS Hotels Worldwide, said.
Chandrakant Shetty, CEO, VITS Hotels Worldwide, said : “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.”