Cinnovation CG, the investment company behind the new Asian hospitality company, Zinc InVision Hospitality, has pledged US$170 million to drive the new company’s growth. During a five-city Asian investor roadshow in January, Cinnovation CG Chairman, Binod Chaudhary said the investment would allow Zinc | InVision to open or rebrand 30 hotels in Asia by 2013.
Cinnovation CG, which has holdings in excess of US$1 billion, is a subsidiary of the Nepal-based global conglomerate, Chaudhary Group.
The development plan is being co-financed by Z-I Capital Partners, which is the investment fund set up by the current Zinc InVision Hospitality partners, and by funds from other outside investors.
Zinc InVision Hospitality, which was formally launched in January 2011, currently operates three brands at nine hotels in three countries in Asia. The company’s CEO, Kevin Beauvais, said potential investor feedback from the roadshows in Bangkok, Singapore, Hong Kong, Kuala Lumpur and Ho Chi Minh City was positive.
“Investors and hotel owners understand that the market in the middle and top end sectors is growing and fragmenting,” said Beauvais. “Hotel guests in the next decade will increasingly want to check-in at hotels that reflect their aspirations and self perception. Demand is growing. And as the urban middle class in Asia grows, it becomes more discerning about hotel choice.”
Zinc InVision Hospitality has developed seven hospitality brands: Zinc City, GLOW STUDIOS, Zinc Edge, Zinc Living, SOMA, Zinc Journey and Touch by Zinc, each targeting specific market segments.
Zinc City Greater Noida (near New Delhi) is scheduled to open in 2012. Two additional Zinc City hotels are scheduled to open in India in 2013 at Kochi and Surat. The first GLOW STUDIOS is now open in Bangkok with five more to come online in Thailand, Cambodia and India in 2011 and 2012 and Nepal by 2013. Zinc Edge deluxe hotels are scheduled to open in Dubai, Nepal and Pattaya in 2013. The first SOMA resort is scheduled to open in Malaysia in 2012.
Two Zinc Journey cultural heritage resorts are already open in Sigiriya and Negombo, Sri Lanka. Five more are scheduled to open in 2011 and 2012 in China, Thailand, Vietnam and Sri Lanka.
The Farm, a Touch by Zinc spa and wellness retreat, is already open in the Philippines. Additional properties are scheduled to open in Nepal in 2011 and Vietnam and India in 2012.
Zinc Living properties for long-stay travelers and residential living are scheduled for Bangkok (2011), Dubai (2012) and Pattaya (2013).
Pictured: Binod Chaudhary (left), Zinc InVision Hospitality Chairman; Kevin Beauvais, Zinc InVision Hospitality CEO, and Rahul Chaudhary.
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