Mehul Sharma (L) with Pankaz Jaiin
Signum Hotels & Resorts, a hospitality brand operating hotels in India as well as overseas, has 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 two to five years.
The joint venture 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 capitalise on the opportunity to identify and acquire assets at competitive deals and aims to develop 5000 keys over a period of next two to five years.