Nepal-based CG Hospitality said it has signed a pact with Tata Group’s Indian Hotels Company Ltd (IHCL), under which its property in Dubai will be managed by the Indian firm as Taj Jumeirah Lakes Towers.
The soon-to-be-launched property will be the company’s first hotel property in the region, CG Hospitality said in a statement.
“This venture marks the strengthening of our bond and global partnership with IHCL. Together, we are partners with IHCL in ten of their iconic Taj properties across different regions in the world, which have set new hospitality and luxury standards,” CG Hospitality MD Rahul Chaudhary said.
Taj Jumeirah Lakes Towers Dubai will help the company make deep inroads into an important Middle East market, he added.
As per the agreement, IHCL will manage and operate the property, CG Hospitality said.
The company however did not share the financial details of the agreement.
CG Hospitality owns and operates 130 hotels and resorts with 6,507 keys in 11 countries and 87 destinations. It is the hospitality arm of Nepal-based Diversified group CG Corp Global, a conglomerate of 174 companies and 76 brands.