Global hospitality major Carlson Rezidor Hotel Group today said it has bought out Indian partner Chanakya Hotels’ stake in their joint venture Country Development and Management Services for an undisclosed amount.
“Carlson Rezidor Hotel Group has acquired the full ownership of Country Development and Management Services Pvt Ltd ( CDMS ), the joint venture between Country Inns & Suites by Carlson Inc and Chanakya Hotels Pvt Ltd,” Carlson Rezidor Hotel Group said in a statement. The Country Inns & Suites By Carlson will now be managed by Carlson Hotels ( South Asia ) Pvt Ltd, the Indian affiliate of Carlson Rezidor Hotel Group. This acquisition also includes four Radisson Blu hotels managed in India by CDMS, it added. Carlson Rezidor Hotel Group Asia Pacific President Thorsten Kirschke said, “This acquisition, resulting in the full ownership of CDMS, is a strategic move to further strengthen our position as the leading international hotel operator in India.”