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Entrepreneur Ravi Deol Joins India Hospitality ...
Entrepreneur Ravi Deol Joins India Hospitality ....
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n \nRavi Deol, Leading Indian Retail Entrepreneur, Joins India Hospitality Corp. \n As Member of IHC's Board of Directors and Chairman and CEO of Mars\n\n Deol Will Concurrently Lead Newly Launched $200 Million Hospitality \n Opportunity Fund\n\n LONDON, June 12 -- India Hospitality Corp. (LSE: IHC, IHC or India \nHospitality) today announced that Mr. Ravi Deol, a name synonymous with the \nsuccessful development of organized retail in India, has joined with the \ncompany as part of a major initiative to rapidly grow its hotels and food \nservices businesses.\n Mr. Deol joins IHC's Board of Directors and has been named as Chairman and \nChief Executive Officer of Mars Restaurants Pvt. Ltd., IHC's hotels and food \nservices division.\n IHC is one of India's newest diversified hospitality companies, formed \nlast year through the acquisition of Gordon House Hotels, Mars Restaurants, \nand SkyGourmet Catering.\n Confirming the news, Ravi Deol said, \"I am excited by this unique \nassociation with IHC as it gives me the opportunity to build on India's \nfastest emerging consumer sector and the platform that allows me to pursue my \nentrepreneurial ambitions. My enthusiasm and understanding of this sector will \nsee the creation of food and hotel concepts which will be executed with speed \nand excellence. A large committed pool of capital and strong management team \nwill build significant value creation for both consumers and shareholders. I \nconsider that the current stage of the Indian economy presents us with the \nperfect opportunity for both organic and inorganic growth.\"\n\n Deol To Lead IHC's Newly Launched Hospitality Fund\n The Board of India Hospitality Corp. also approved the launch of a $200 \nmillion hospitality fund. Mr. Deol will be the Managing Director and General \nPartner of the Fund. The fund's capital, combined with leverage, will allow \nthe company to make a significant investment into the development and / or \nacquisition of Indian hospitality properties.\n \"With significant equity capital at the company's disposal, we believe IHC \ncan add nearly 2,000 hotel rooms and drive earnings growth,\" commented Richard \nFoyston, IHC Deputy Chairman. \n Foyston additionally noted, \"Having Ravi Deol on board is another step in \nexecuting IHC's core strategic initiatives. His experience brings significant \nval...