Hong Kong’s Cachet Hotel Group (CHG), which operates the eco-friendly URBN Hotels brand, has formed a new joint venture hospitality company.
In partnership with US-based Invest Hospitality, Cachet has launched Invest Hospitality Asia (IH Asia), which it says will focus on “developing exciting restaurant and nightlife concepts, and cultivating partnerships with celebrity chefs across Asia”.
As part of the new venture, IH Asia is planning to open branches of the famous L’Atelier de Joel Robuchon restaurant concept in New York and Miami, as well as bringing the Craft restaurant brand to Asian cities.
“Asia’s insatiable demand for international restaurant brands, celebrity chefs and exciting new concepts continues,” said Alexander Mirza, CEO of Cachet Hotel Group. “Our joint venture with IH Asia fills a void by providing both professional management and organised capital to support food and beverage development.
“IH Asia will cooperate with a broad range of real estate developers and hotel groups who seek leading brands and operational excellence,” he added.
The new company said it will “utilise CHG’s existing capital resources and operational infrastructure” to expand in gateway cities and resort destinations in Asia.
Cachet has committed to an initial set of restaurants, bars and lounge developments at its hotel properties in Shanghai and Bangkok. Other target markets include Hong Kong, Singapore, Beijing, Chengdu, Macau, Bali and Koh Samui.