Louvre Hotels Group, a wholly owned hospitality vertical of Jin Jiang International, and Sarovar Hotels & Resorts of India have made a joint announcement of a merger. No monetary details of the deals have been announced, but spokesmen of both the companies announced Louvre Hotels will have a commanding majority stake in Sarovar Hotels & Resorts.
Jin Jiang owned Louvre Hotels has agreed to buy Indian chain Sarovar Hotels. In a first India hotel market acquisition, Louvre edged out Wyndham Hotel Group to secure the deal.
Louvre Hôtels Group, the 2nd major player in the European hotel market and the largest hotel chain in France, just hired World Independent Hotel Promotion (WIHP) for in-depth search optimization services for all 6 brands of the group’s brands.