CHG Hotels Group Announces Strategic Investment Partnership with Arjomand Group

This collaboration will advance the group’s global strategic expansion

CHG will leverage Arjomand Group’s resources in real estate and investment to vigorously develop its lifestyle and fashion online booking platform

Hong KongJune 1, 2016 /PRNewswire/ -- CHG Hotels Group(CHG) announced that Arjomand Group, one of the most influential large-scale integrated investment management firms in the Middle East,Arjomandthe group,has made a strategic investment in it.

CHG Hotels Group Announces Strategic Investment Partnership with Arjomand Group

Arjomandthe group,headquartered in the United Arab Emirates in the Middle East, with offices in Europe and countries of the Gulf Cooperation Council (GCC). Through this equity investment,Arjomandthe group,will acquire a minority stake in CHG, and its founder, Chairman, and CEO Farooq Arjomand will become a member of CHG’s Advisory Board.

Mr. Arjomand is also one of the founders ofEmaar Properties,Emaar Propertiesthe largest real estate developer in the Middle East.The company is headquartered in Dubai, UAE, with total assets exceeding USD 20 billion and annual revenues of USD 3.8 billion. The “world’s tallest building,”Burj Khalifa,isEmaar Properties’iconic real estate project.

In addition, Mr. Arjomand also serves as Vice Chairman of the Board of Directors ofDAMAC Properties,a publicly listed company and a leading brand in luxury real estate development in Dubai and the Middle East, specializing in high-end residential, leisure, and commercial projects. The company holds total assets of over USD 6.3 billion and annual revenues of USD 2.3 billion. Golf superstar Tiger Woods was invited to design its Trump World Golf Club located in Dubai’s Al Habtoor City; the world-renowned luxury brandVersacewas also invited to handle the interior design of its fashion brand residencein London, UK.AYKON Nine ElmsThe interior design.

ArjomandGroupThis round of investment will help Kaish to further expand its presence in the Asian, American, and Middle Eastern markets.

Mr. Robert Roche, Chairman of CHG, commented: “We are very pleased to establish a strategic investment partnership withArjomandGroupthis time. Over the past few years, Kaish has achieved remarkable success in hotel brand revitalization and operations, whileArjomandGrouphas numerous successful cases in capital operations and investments. Going forward, both parties will strengthen collaboration and move forward together.”

The two sides will jointly expand Kaish’s hotel, dining, and nightlife brands in the United States and the Middle East. Currently, CHG has 29 ongoing or planned projects in major global gateway cities and resort destinations, totaling 4,100 hotel rooms and 1,008 branded serviced apartments. Of these, 2,100 rooms (or units) have either signed letters of intent or formal contracts and are now under intensive construction, with expected openings by the end of 2019.

Mr. Farooq Mahmood Arjomand said: “Kaish Hotel Group has become one of the fastest-growing hotel management companies in the Asian and American markets. We hope to achieve win-win development together with Kaish in the future.”

“Mr. Arjomand’s extensive experience in the real estate and hospitality industries will drive Kaish’s global expansion,” said Mr. Alexander Mirza, President and CEO of CHG. “We hope this collaboration will help promote the ‘Kaish’ brand to new markets such as India and the Middle East.”

The flagship project recently announced by the Group,Cachet CorazonSeaside Resort,marks Kaish’s official entry into the American market. Located at Cabo San Lucas in Mexico, it is Kaish’s first resort hotel globally. The property developer, CVBR (Cabo Villa Beach Resort & Spa), will be responsible for its development. Two hotels within the resort,Cachet BeachandCachet Deluxe, are set to open in the fall of 2016 and the first half of 2018, respectively.

For more details, please visit the Group’s official website at www.cachethotelgroup.com.