Trilegal Allen amp Overy and Agarwal advise on Carlson Rezidor and Bestech Hospitalities JV

Carlson Rezidor, one of the world’s largest and most dynamic hotel groups has signed strategic partnership with Gurgaon-based Bestech Hospitalities to develop 49 Park Inn by Radisson hotels in north and central India..The two companies will also jointly invest $42 million (Rs. 210 crore) in the first two hotels that will be operational in Gurgaon and Mohali in the next three years..Trilegal advised Carlson Rezidor with a team led by Partner Yogesh Singh along with Senior Associate Nitish Nair and Associate Tanya Mehta..Allen & Overy acted as International legal counsel to Carlson Rezidor..S.K. Agarwal of S. K. Agarwal Associates advised Bestech Hospitalities..According to the press release, Bestech will have exclusive development rights for Park Inn by Radisson in central and north India, with the goal to develop 49 Park Inn by Radisson hotels by 2024. Carlson Rezidor will manage the hotels through a management company in which Bestech is a partner. Carlson Rezidor will be introducing a new generation of Park Inn by Radisson, developed with a strong focus on the growing middle class in key emerging markets.ET reports, Carlson Rezidor currently operates 52 hotels in India under different brands such as Radisson, Radisson Blu, Park Plaza and Country Inn and Suites..Currently, Carlson Rezidor operates 127 hotels under Park Inn brand in 33 countries across the world and 65 more are in the pipeline. Bestech Hospitalities already owns 5 hotel properties that are operated by Carlson Rezidor.