The Indian Hotels Company (IHCL) announced on 18 August that it has inked a deal with Madison, Terminus Group’s hospitality platform, and JV Ventures for the operation of ten new hotels under the Ginger brand in southern India. Within the next three years, Madison plans to invest about Rs 500 crore to build ten hotels with more than 1,000 keys.
According to a release from Indian Hotels Company (IHCL), the relationship has begun with the signing of a 75-key Ginger hotel in Genome Valley, Telangana. The ten new hotel locations would mostly be greenfield and brownfield projects. According to the statement, this capital-light structure will function as an operating leasing agreement under the Ginger brand.
Ginger is IHCL’s calculated move to take advantage of the expanding mid-scale traveler market in India for aspirational tourists. According to IHCL Executive Vice President, Real Estate & Development Suma Venkatesh, the brand encompasses all city types and attractions, including metros, state capitals, commercial hubs, industrial townships, pilgrimage sites, and leisure hotspots.
“This potential is demonstrated by the signing of this framework deal for ten Ginger hotels in the southern states. “With Madison, the hospitality platform of Terminus Group and JV Ventures, we are thrilled to grow the Ginger brand,” she continued. Jasmeet Chhabra, co-founder of JV “Madison will roll out ten Ginger Hotels with over 1,000 keys with an estimated outlay towards construction cost of Rs 500 crore across industrial and spiritual towns in southern India over the next three years in partnership with IHCL.”
The ‘Ginger Genome Valley’ asset will complement the Genome Valley Industrial corridor with its contemporary business facilities and social spaces to promote collaboration within this dynamic environment, according to Madison Co-Founder SP Reddy. Madison was founded in 2023 as a joint venture between JV Ventures and Terminus Group.
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