Arjomand Group, an United Arab Emirates (UAE) based investment management platform has invested in the capital equity of Cachet Hotel Group getting a minority interest in the company.
This investment will support CHG’s growth as it scales its global operations and broadens Cachet’s footprint inAsia, the Americas and the Middle East.
Recently, CHG announced its expansion into the Americas with flagship property Cachet Corazon in Cabo San Lucas, Mexico. Owned and developed by Cabo Villas Beach Resort and Spa, the highly anticipated project will mark CHG’s first resort destination. Cachet Beach will launch in Fall 2016, with Cachet Deluxe hotel to open in early 2018 as a fully-integrated resort experience.
Leaving aside the upscale segment, Cachet Hotel Group annunced on 29th February this year the launch of Savant Hotel brand, a midscale lifestyle concept, in partnership with Qingdao Izuno Inn Investment Company with the first property to open in Shandong Province (China).
By joining forces, CHG and the Arjomand Group will grow CHG’s collection of hotel, restaurant and nightlife brands in the United States and Middle East. By strengthening the brand’s foundation in key gateway cities and resort destinations, CHG currently has a robust pipeline of 29 new hotels in development scheduled to open between 2016 and end of 2019. This means 4,100 hotels keys and 1,008 branded residences, 2,100 of them already signed, under construction, or with an executed letter of intent.
“Cachet Hotel Group has become one of the fastest growing hospitality management companies in Asia and the Americas,” said Farooq Mahmood Arjomand, Founder of the Arjomand Group. “We look forward to embarking on a mutually successful collaboration.”
Catchet also earns an experienced new member of the Advisory Board
As a result of Arjomand investment, Farooq Arjomand, Founding Chairman & CEO of the Arjomand Group, will be appointed as a member of Cachet’s Advisory Board.
Farooq Arjomand also serves as founding member of Emaar Properties, the largest real estate development company in the United Arab Emirates (UAE) with more than $20.0Bn of assets and $3.8Bn in revenue and featuring the Burj Khalifa, the tallest building in the world, as one of its noted projects.
He is also Vice Chairman of DAMAC Real Estate Development (DFMGI), a publically traded luxury residential, leisure and commercial developer in Dubai and the Middle East with more than $6.3Bn of assets and $2.3Bn in revenue. DAMAC properties offer luxury amenities such as interior design by international fashion house Versace and Tiger Woods for championship golf course design.
“Arjomand’s investment expertise combined with CHG’s track record of branding and operating lifestyle hotels will form a dynamic relationship,” said Robert Roche, Chairman of Cachet Hotel Group. “We are pleased to partner with Arjomand Group and look forward to working on future opportunities that will enhance and strengthen this ongoing partnership.”
“Farooq Arjomand’s expertise in real estate and hospitality will position Cachet for powerful growth on a global scale,” said Alexander Mirza, President and CEO of Cachet Hotel Group. “We look forward to launching the Cachet Brand in new markets in the Middle East and India.”
Image over the headline.– Some Cachet properties in the pipeline: Cachet Corazon (mexico), Cachet Deluxe Hotel & Residences (Thailand), Cachet Westlake Village Inn-A Cachet (USA) -above left to right-; Cachet Resort & URBN Hotel Wanfeng Valley (China), Cachet Deluxe Hotel Hangzhou (China), Cachet Boutique Zhejiang Circuit (China) -below left to right-. © Cachet Hotel Group.
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