Page 34 - IACC Newsletter June 2013 Issue 11

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The Indian luxury market is growing at a compounded annual growth rate of 25 to 30 per cent and jewelry forms the
largest segment. It accounts for nearly 50 per cent of the total luxury products sold in the country, she said.
Starwood announces opening of twin brands in Gujarat
US based hospitality major Starwood Hotels & Resorts Ltd Inc. announced debut of its two hotel brands - 'Aloft' and 'Four
Points by Sheraton'.
The opening marks fifth Aloft hotel of the company in India, which are developed with the Urbanedge Hotels, a special
purpose vehicle (SPV) of Auromatrix Holdings Private Ltd, an anchor partner of Starwood.
"Aloft's international expansion so early in the brand's life cycle is unprecedented. The brand is quickly gaining traction
in India, and we look forward to continued momentum to grow the brand," senior vice president, specialty select brands
for Starwood, Brian McGuinness told reporters.
As per McGuiness, 18 more Aloft and 21 Four Point by Sheraton brand hotels are expected worldwide this year.
Combining the two brands, Starwood has 10 operating hotels in India. It has executed deals for five more hotels which
are under development. "We see huge potential for Aloft in India. We are going to open one more Aloft in Bangalore by
this year end and another one at Delhi Aerocity in 2014," Starwood Regional Vice President South Asia Dilip Puri said.
The company is looking to expand the footprint of its twin brands in India with an eye over the state capitals like Ranchi,
Bhuwaneshwar, Raipur, Dehradun, among others. "Every state capital is an opportunity for us. Starting right from north
we are looking at Raipur, Ranchi, Bhuwanehswar, Dehradun, which are reflectives of Tier-II cities which we clearly
believe we would like to be in," Puri said on expansion in India.
The company is also exploring possibilities of opening hotel in cities like Rajkot, Vadodara, Jamnagar, among others. The
first Starwood Oberoi Sheraton was launched in 1973 in Mumbai, and today eight of nine brands of the company are
present in India.
Aloft in Ahmedabad is a 176-room hotel with tariff starting from Rs 7,000. The Four Points is a 104-room hotel,
converted from an existing hotel and will be Starwood's first managed Four Points by Sheraton in India.
India's Zensar in acquisition talks with at least two U.S. firms
Indian outsourcing services provider Zensar Technologies Ltd is in acquisition talks with at least two U.S.-based
companies to boost its offerings in its largest export market.
A deal could cost Zensar between $20 million and $50 million, its chief executive officer, Ganesh Natarajan, said in a
phone interview from the company's headquarters in the western Indian city of Pune. The Indian company, being
advised by boutique financial advisory firm The Chesapeake Group, is talking to firms specialising in either managing
large, complex computer networks or providing business software management consultancy, he said.
A possible acquisition could add 150-200 local staff in the computer networks area, or about 60-70 consultants
specializing in the use of business management software from SAP AG, Natarajan said.
"We've been at it in the last four months ... if we get the right fit, we can certainly do it during this year," he said.