World's one and only Forbes Billionaire from Nepal eyes Middle East and East Africa growth with new hotels

19 June 2016 CG Hotels and Resorts, the hospitality division of Nepal's only billionaire, Binod Chaudhary, has kickstarted the construction of its latest hotel, with the widely renowned brand Taj. The 200-key luxury hotel is being built in the happening Jumeirah Lake Towers, Dubai. CG Hotels and Resorts, in a partnership with Mr. Jayant Lal and Mr. Raju Shroff have jointly entered into this venture with India's most premier and reputed Taj Hotels Resorts and Palaces aiming to make this hotel one of the most recognized and preferred destinations for business travelers. The two new hotels represent the start of CG Hotels and Resorts' strategic expansion across the Middle East and Africa, having identified key markets such as Muscat, Abu Dhabi, Dubai, Doha, Saudi Arabia and Iran in Middle East as well as Kigali, Nairobi, Dar E Salaam, Kampala, Burundi and Mozambique in Africa. This is a part of its larger global development strategy, with a target to more than double the number of hotels to 200 by 2020, which would make CG Hotels and Resorts a dominant player in the hospitality sector globally. Speaking about the company's expansion plans, Rahul Chaudhary, Director, CG Hotels and Resorts, said "With the opening of The Zinc & Zinc Living luxury hotel in Kigali, Rwanda, soon, we will be setting a new benchmark in hospitality in East Africa. The hotel is due to open in time for the African Union Conference in July and will host various dignitaries and heads of state amongst its first guests. Our presence in so many different countries and geographies along with an array of profitable brands gives us a greater flexibility and an edge over other brands, to invest in properties with various affiliated brands." Comprising of 4411 keys, 79 hotels in 59 destinations across 12 countries including its own Zinc & Fern branded hotels and resorts, CG Hotels & Resorts has a proud history of successful joint ventures with esteemed partners and brands such as Taj, Alila, Jetwing and The Farm amongst others. It's diverse and unique portfolio of owned and partner hotels under these brands include acclaimed properties such as the iconic Taj Exotica Resort & Spa Maldives, Taj Samudra Colombo, The Farm in Philippines, Jetwing Vil Uyana in Sigiriya Sri Lanka and Taj Safari lodges in central India. CG Hotels and Resorts also has strategic investments in multiple management companies, which owns several brands in the luxury, business, wellness and budget space across various geographies such as Alila, Zinc & Fern. Under its management company arm, Concept Hospitality and Alila, the group manages over 40 hotels and another 35 projects in the pipeline within India. -Ends- About CG Corp Global CG Corp Global is a transnational conglomerate with an exceptional legacy of 150 years. Present in over 30 countries and 5 continents with 76 brands, 80 companies and with an employee base of 10,000 people, it is Nepal's first and only Nepalese Billion Dollar conglomerate to be featured in the Prestigious Forbes List of Billionaires since the year 2013 that produces world class products, brands and services. The Group's notable areas of interests are FMCG, hospitality, finance, banking, cement, real estate, electronics, telecom, education, energy, biotech, power, and retail to name a few. © Press Release 2016

World's one and only Forbes Billionaire from Nepal eyes Middle East and East Africa growth with new hotels

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