Louvre Hotels acquires Sarovar Hotels & Resorts
With the acquisition of the Sarovar Hotels & Resorts chain, Louvre Hotels gained more than 75 properties mostly in India. The operation should be finalized by January 15.
The operator announced the addition of the Indian hotel chain Sarovar Hotels & Resorts to its portfolio. With this operation, Louvre Hotels confirms its expansion strategy in India. This portfolio includes 75 properties including 11 that are currently under development. These properties are mostly operated through direct management contracts, and located in India. We also have three units on the African continent (in Kenya, Southern Sudan and in Tanzania). Sarovar Hotels & Resorts has three domestic brands: Sarovar Premiere (upscale), Sarovar Portico (midscale) and Hometel (economy). This group also manages properties Operated under certain Carlson Rezidor such as Park Inn and Park Plaza.
Louvre Hotels is a French group founded in 1976 by the Taittinger family. In February 2015, the Chinese group Jin Jiang International bought its activities. Louvre Hotels currently operates six brands positioned across a wide array of ranges (from the economy segment to upscale): Première Classe, Campanile, Kyriad, Tulip Inn, Golden Tulip, Royal Tulip. With the acquisition of Sarovar Hotels & Resorts, Jin Jiang strengthened its position as leader in Asia-Oceania, where it already ranked first as of January 1, 2016 with 4,381 properties, or 465,464 rooms in the region.
As of January 1,2016, Jin Jiang International was fifth in the global ranking of hotel groups with 5,482 properties totaling 555,544 rooms, according to data published by Hospitality ON.