Carlson Rezidor Hotel Group has announced the signing of a joint venture agreement with Indonesia’s Panorama Group that will accelerate the company’s portfolio growth in the South East Asian nation.

The announcement was made in Berlin, Germany, yesterday (Mar 5) coinciding with a visit to the city for the annual ITB trade show by the President of Indonesia, Susilo Bambang Yudhoyono.

Under the agreement, 20 Radisson and Park Inn by Radisson hotels will be developed in Indonesia over the next seven years and the hotels will be located in top tier Indonesian cities including Jakarta, Bali, Surabaya and Yogyakarta, as well as emerging cities such as Manado, Makassar, Palembang and Medan.

A new joint venture management company called PT. Carlson Panorama Hospitality will be created and a representative office will be established in Jakarta.

“The joint venture will create great synergy for both parties, establishing hotels in key destinations in Indonesia and drawing more tourists from around the world to Indonesia as well as providing world class hotels and hospitality standards to the growing domestic market,” said Panorama Group’s CEO, Budi Tirtawisata.

Carlson Rezidor will provide its hotel management expertise, worldwide sales and marketing support, as well as access to its distribution network, whilst Panorama Group will afford its local network and business expertise, co-operating business development, project acquisition and project developments.

Panorama Group has been in partnership with Carlson for 13 years, having signed a joint venture partnership in 1999 to establish Carlson Wagonlit Travel (CWT) in Indonesia.

With its extensive experience and growing relentlessly from milestone to milestone for more than 40 years, Panorama Group always strives to serve its customers through a variety of quality products and services.

Entering into another joint venture with Carlson, endorses Panorama’s vision of becoming an industry leader in the markets and businesses that it enters.

“The joint venture with Carlson Rezidor Asia Pacific will see the extension of Carlson’s relationship with Panorama Group go beyond CWT, to include hotel development and management,” said Carlson Rezidor Hotel Group’s President of Asia Pacific, Simon C. Barlow.

“The joint venture combines Panorama’s local knowledge and presence in Indonesia with Carlson Rezidor’s global network, resources and expertise, and will boost Carlson Rezidor’s current portfolio of 164 hotels in operation and under development in Asia Pacific.

“Indonesia is an attractive market with huge potential. Domestic leisure travel in particular has been gaining ground, with Indonesia’s rising middle class making more domestic trips and spending more on their travels.

“According to the McKinsey Global Institute, Indonesia is set to become the world’s seventh largest economy by 2030, with 135 million consumers representing a $1.38 trillion market opportunity.”

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