Published on : Monday, June 6, 2016
Al Sawari Holding, one of Qatar’s leading private companies with interests across hospitality, real estate and education sectors today signed a Memorandum of Understanding (MoU) and management agreements to mark its entry into India. The collaborations were formalised on the occasion of Hon’ble Prime Minister of India, Mr. Narendra Modi’s visit to the State of Qatar.
An MoU has been signed by H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Sawari Holding and Al Faisal Holding and Mr. Vivek Nair, Chairman & Managing Director, The Leela Palaces, Hotels and Resorts. Under this agreement, the Al Sawari Group will purchase a 6 acre site from The Leela Group in the historical city of Agra to develop a hotel complex. The hotel complex will include 2 hotels – a 100 room Leela Palace Hotel and a 150 room Aiana Hotel on the same plot. Al Sawari Holding has also entered into management agreements with both the Leela Group as well as Aiana Hotels and Resorts to operate the respective hotels.
“Qatar has a long history of bilateral relations with India and there is a lot of synergy between the two cultures. We are delighted to enter into these landmark agreements with The Leela Palaces, Hotels and Resorts and Aiana Hotels and Resorts during the historic visit of Prime Minister Narendra Modi to Qatar. We are confident that Al Sawari Holding’s foray into the Indian hospitality industry will further enhance the economic and culture relations between the two countries”, said H. E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Sawari Holding and Al Faisal Holding. “In line with our strategy to acquire key assets in strategic global locations, the property is located less than 1 kilometre from the Taj Mahal and will offer unparalleled views of the historic monument.’
The two new hotels will offer a host of signature restaurants and lounges along with spacious banquet halls and state of the art health centres and spas. Both hotels will cater to the upmarket leisure tourists and the MICE segment. Construction is expected to commence soon and will be completed within 36 months.
“These agreements are the first of many that we as a group plan to enter into in India. We firmly believe in the potential of the Indian market and will continue to seek growth opportunities to create value and expand our portfolio in India”, said Mohammed Shafiek, Managing Director, Al Sawari Holding.
“We are delighted to partner with Al Sawari Holdings, and view this agreement as a forerunner to several other developments in India and overseas. The proposed Palace hotel will combine unparalleled views of the Taj Mahal with a truly luxurious hospitality experience in Agra. We are also looking forward to further strengthening our presence within the golden triangle by adding a Palace hotel in Jaipur and will continue our efforts to expand in Jodhpur and Jaisalmer,” said Vivek Nair, Chairman and Managing Director, The Leela Palaces, Hotels and Resorts.
“We are delighted to announce the expansion of the AIANA portfolio in India with the signing of a management agreement with Al Sawari Holding to operate AIANA Agra – a 150 room hotel in one of the most visited leisure destinations in India.”, said Amruda Nair Joint Managing Director & Chief Executive Officer, Aiana Hotels & Resorts L.L.C. “With the signing of our 6th hotel in India, we will continue to follow the cluster strategy that has been successful for the AIANA brand in India. Our next focus will be to complete the Golden Triangle of Delhi, Agra and Jaipur and further enhance our existing developments.”