Carlson Rezidor Announces Joint Venture in Indonesia
BERLIN—Carlson Rezidor Hotel Group announced the signing of a joint venture agreement with Indonesia's Panorama Group that will accelerate Carlson Rezidor's portfolio growth in Indonesia. Under the agreement, 20 Radisson and Park Inn by Radisson hotels will be developed in Indonesia over the next seven years. These hotels will be located in Indonesian cities including Jakarta, Bali, Surabaya and Yogyakarta, as well as emerging cities such as Manado, Makassar, Palembang and Medan. READER COMMENTS
A new joint venture management company called PT. Carlson Panorama Hospitality will be created and a representative office will be established in Jakarta. Carlson Rezidor will provide its hotel management expertise, worldwide sales and marketing support, as well as access to its distribution network, whilst Panorama Group will afford its local network and business expertise, co-operating business development, project acquisition and project developments.
Panorama Group has been in partnership with Carlson for 13 years, having signed a joint venture partnership in 1999 to establish Carlson Wagonlit Travel (CWT) in Indonesia.
"The joint venture with Carlson Rezidor Asia Pacific will see the extension of Carlson's relationship with Panorama Group go beyond CWT, to include hotel development and management. The joint venture combines Panorama's local knowledge and presence in Indonesia with Carlson Rezidor's global network, resources and expertise, and will boost Carlson Rezidor's current portfolio of 164 hotels in operation and under development in Asia Pacific," said Simon C. Barlow, president, Asia Pacific, Carlson Rezidor Hotel Group. "Indonesia is an attractive market with huge potential. Domestic leisure travel in particular has been gaining ground, with Indonesia's rising middle class making more domestic trips and spending more on their travels. According to the McKinsey Global Institute, Indonesia is set to become the world's seventh largest economy by 2030, with 135 million consumers representing a $1.38 trillion market opportunity."