India real estate firm inks franchise deal with Wyndham for 10 hotels

GURGAON, INDIA Aerens Gold Souk Group, an India real estate, retail and entertainment conglomerate, is entering the hospitality industry with a strategic alliance with Wyndham Hotel Group for at least four and as many as 10 hotel projects.

Gold Souk will build four deluxe hotels in Kochi, Chennai, Ludhiana and Hisar under Wyndham’s Ramada brand, with plans to set up four to six more Ramada properties in Karnal, Doraha, Jagadhari and Ambala. The company is also in talks with Wyndham to help set up its own hotel management company.

The first four properties, which are currently under construction, will range in size from 100 to 120 guestrooms and will open between 2012 and 2015. The first to open will be Ramada Chennai Gold Souk Vandaloor, Chennai, net month.

Ramada is being positioned as a 4-star business hotel brand in India. Gold Souk’s Ramada properties will generally be developed as part of mixed-use projects at convention centers and major retail areas.