Joint venture between MBD Group and Steigenberger Hotel Group
The MBD Group, India's leading publishing and hotel company, and the Steigenberger Hotel Group are concluding a joint venture. The aim is to operate hotels in India under the "MBD STEIGENBERGER" brand and to grant franchises. The MBD Group holds a 51 percent share in the joint venture company and the Steigenberger Hotel Group holds 49 percent.
The management of the Joint venture company will be devolved to a Board of Directors made up of staff from both companies. The MBD Group looks after the business operations of the brand in India. Steigenberger is responsible for adherence to brand standards, international sales and marketing and the training of staff.
Over the next 15 years, there are plans to open 20 hotels in India.
In line with the international positioning of the brand Steigenberger, the MBD Steigenberger brand is targeting the luxury segment in India, a segment which is expected to achieve particularly fast growth. The flagship hotel of the joint venture will be the MBD Zephyr Bangalore, a MBD Steigenberger Hotel in the heart of the Whitefield district. More than 184 rooms and 118 serviced apartments will be available in India's Silicone Valley.
Sonica Malhotra, Managing Director of the joint venture and member of the board of the MBD Group: "We are very proud of our collaboration with the Steigenberger Hotel Group. By combining German excellence with warm-hearted Indian hospitality, we are offering our guests across India a completely new hotel experience. We will concentrate on the country's most important cities such as Delhi, Mumbai, Chennai, Hyderabad, Goa, Kolkata, Pune and Indore."
Puneet Chhatwal, CEO, Steigenberger Hotel Group: "For us it is a great honour to become a part of the India hotel landscape with our highly valued partner MBD. This is an important milestone for the international growth of our company. The Steigenberger Hotel Group is a company with German roots which enjoys an outstanding reputation the world over. It is the 'Germanness' which is associated with precision, reliability and quality all over the world. Our brand stands for excellence, perfection and a long tradition. We are very much looking forward to establishing our 'German Hospitality' on the Indian market."
About Steigenberger Hotels AG
Steigenberger Hotels AG is a leading European hotel company. It operates 116 hotels on three continents of which 24 hotels are under construction or in planning.
Steigenberger Hotels and Resorts include some of Europe's most prestigious buildings including the Steigenberger Frankfurter Hof, the Steigenberger Parkhotel in Dusseldorf and the Steigenberger Wiltcher's in Brussels. InterCityHotel, the brand for the middle market segment, operates 38 hotels located in city centers or at airports. "Jaz in the City" is the new creative concept. The first hotel opened its doors in 2015 in Amsterdam.
About the MBD Group
The MBD Group is one of the leading educational institutions in India and has more than six decades of experience. In accordance with the future vision of the corporate group's founder, Shri Ashok Kumar Malhotra, it has diversified into various sectors including e-learning, m-learning, competency development, environmentally friendly notebooks, paper manufacturing, ICT infrastructure, hotel industry, project planning and construction, property and the development and operation of shopping centers. In accordance with its vision, the MBD Group works to produce "MBD products for all literate people" continuously aiming at providing all people access to education. The corporate group has also tapped the markets of South Africa and Sri Lanka with its range of educational services.
The MBD Group is currently present on three continents, in 30 countries and 5,000 cities and produces 50 million books and around 30 million notebooks annually. The corporate group employs a large number of staff and has a comprehensive network of sales and book retailers across India. It is the only publisher to release books for all classes, on all subjects for all educational authorities in India and in most of India's spoken languages as well as some international languages. MBD is the only publishing house in India with a full forward and backward integration – from its own paper manufacturing through in-house pre-press to in-house printing and binding departments – and also has its own sales network with 29 subsidiaries across India.
The corporate group successfully established itself in the hotel sector with its first hotel, the Radisson Blue MBD Hotel, Noida (Delhi NCR). The hotel, which is the first 5-star deluxe hotel in Noida, is wholly owned by the MBD Group and is operated solely by the group. It has won several awards in various categories including for best hotel and for the highest ranking restaurants. The second hotel in the corporate group is the Radisson Blu Hotel in Ludhiana, also the first 5-star deluxe hotel in its region. Both hotels of the corporate group point to the best financial performance in their field of competition.
The MBD Group also has mixed-use complexes in the premium and luxury classes. In Ludhiana and Jalandhar, premium class mixed-use complexes which include a 5-star hotel and premium retail and entertainment spaces, are successfully operated under the brand name "MBD Neopolis".