Duet India Hotels, part of private equity fund manager Duet Group, is planning to set up 23 hotels in the country in the next 3-4 years. The company started its operations in India in 2007 to develop and own midscale and upper midscale hotels. Duet India Hotels at present has 9 hotel asset either functional or under various stages of development. In 2011, the company entered into a JV with IHG to develop and own 19 Holiday Inn Express hotels in India which is also the debut of the brand in the country. Speaking to VC Circle, Naveen Jain, president of Duet India Hotels said the company has already acquired six assets for IHG JV and looking to acquire 13 more, it will focus on Tier I towns for now before moving to Tier II and III towns and why developing assets and giving them to international hospitality companies to run them will be the way to go for emerging hotel companies.
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