The Chaudhary Group (CG) of Nepal has joined hands with Thailand based InVision Hospitality with a plan to open 30 hotels across Asia by 2013.  For this purpose, a company called Zinc | InVision Hospitality (ZIH) has been formed as a joint venture of InVision Hospitality and the Singapore based investment company Cinnovation | CG, which is part of Chaudhary Group family.

According to a press release issued announcing this, the growth will be financed in part by Z-I Capital Partners, which, the statement says, is the investment fund set up by the current Zinc | InVision Hospitality partners and fortified by other investors.

InVision Hospitality currently manages five properties in Thailand, states the press statement.

Cinnovation | CG holds 51 per cent of the initial fund of ZIH which is $170-180 million, states the release. The remaining 49 per cent is held by InVision, it adds. The fund will be invested on 30 hotels across Asia, including Nepal, Thailand, UAE, the Philippines, Sri Lanka, India, China and Malaysia.

Zinc | InVision Hospitality has seven hotel and hospitality brands already developed: Zinc City, GLOW STUDIOS, Zinc Edge, Zinc Living, Zinc Journey, SOMA, and Touch by Zinc. The statement says, “Each one caters to a unique market segment -- luxury resorts, hip business hotels, value-oriented urban travelers, long-stay and residential living, heritage travel, and spa and wellness retreats.”

Out of 30 hotels, GLOW STUDIOS, Edge deluxe hotels, The Farm, a Touch by Zinc spa and wellness retreat will also be established in Nepal by 2013 while the latter by 2011.

Cinnovation | CG Executive Director Rahul Chaudhary said, “I am excited and extremely confident about bringing the innovative hotel brands we have created within ZIH to the global market. We aim to succeed by anticipating social trends and the emerging demands of hotel customers and matching these with well designed hotels and well trained staff.”

Company CEO, Kevin Beauvais announcing the new company said, “The creation of Zinc | InVision Hospitality marks the arrival of a formidable hotel management company and fresh brand offerings in the Asian hotel and hospitality arena. Cinnovation | CG has the financial depth and hospitality background to support the growth while InVision has the depth of experience and hospitality know-how to execute all elements of technical, sales and marketing and operating activities. We expect phoenix-like growth in the next few years.”

 The press release says, “The newly formed ZIH will incorporate the expertise of the existing 35 person InVision staff and various professionals from the Cinnovation | CG corporate structure.”