The Mushtaq Group of Hotels is to open seven hotels in Jammu and Kashmir in partnership with the Carlson Rezidor Hotel Group. Currently, no international hotel brand has a major presence in the state.
Three of the hotels will be new while four existing Mushtaq hotels will be upgraded to Carlson Rezidor standards with a total investment of about ₹10 billion (US$150 million).The first hotel will open in Srinagar in the fourth quarter of 2016. The other six will be in Jammu, Sonmarg, Gulmarg, Tanmarg and Pahalgam. The Mushtaq Group will make the investments while Carlson Rezidor will lend its brand name, management practices, services and brand promotion.
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Carlson Rezidor has more than 1,370 hotels in operation and under development across 110 countries. Its current brands are Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson and Country Inns & Suites by Carlson.
New Delhi-based law firm Lex Favios advised the Mushtaq Group on the deal. Managing partner Sumesh Dewan and senior associate Yeshika Dublish advised on and negotiated the hotel management contracts and other contracts for the deal.
Carlson Rezidor’s in-house team advised the company on the negotiations.
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