Signum Hotels & Resorts Announces Strategic JV with IQI India
Signum Hotels & Resorts Pvt. Ltd announced a strategic joint venture with the leading real estate player, IQI India. The joint venture committed an investment of USD 150 Million in developing hotel assets across the country, and globally, over a period of 2 to 5 years.
The joint venture, announced in the city, comes at a time when the Indian hospitality industry is triggering a recovery phase. Though the investments in the sector are at its lowest, the partnership will capitalize on the opportunity to identify and acquire assets at competitive deals, and aims to develop 5000 keys over a period of next 2-5 years. The expansion will be fueled through mergers, acquisitions and property investments across metros, tier 2 and 3 cities in India to promote domestic as well as inbound tourism to experiential destinations, pilgrimage, getaways and key places of interest.
IQI India, is the India arm of the Global IPC IQI based in Malaysia having operations in 17 countries through PaMa D’Globizen. While expansion in the Indian market will remain the focal point of this collaboration, opportunities to expand overseas will also be explored given IQI’s strong International presence. Regions in South East Asia like Singapore, Bangkok and Indonesia, significant parts of Europe and Americas will remain of particular interest for any expansion opportunities.