Cachet Hotel Group (CHG), the Hong Kong-based hospitality company, has secured new investment that will enable it to expand into India and the Middle East.
UAE-based Arjomand Group has made a strategic investment in CHG, as the company ramps up the expansion of its Cachet and URBN hotel brands across the world. The company’s portfolio currently comprises hotels in China and North America, but the new backing will allow it to spread into new markets.
Arjomand Group is led by Farooq Mahmood Arjomand, who also serves as founding member of Emaar Properties, the Dubai-based real estate giant.
“Farooq Arjomand’s expertise in real estate and hospitality will position Cachet for powerful growth on a global scale,” said Alexander Mirza, president & CEO of CHG. “We look forward to launching the Cachet Brand in new markets in the Middle East and India.”
CHG currently has a pipeline of 29 properties under development, comprising 4,100 hotels keys and 1,008 branded residences, all of which are scheduled to open by the end of 2019.
“Cachet Hotel Group has become one of the fastest growing hospitality management companies in Asia and the Americas,” said Arjomand, founder of the Arjomand Group. “We look forward to embarking on a mutually successful collaboration.”