Accor to Develop Soffitel Resort in Goa, India

Accor signs its first resort in India - Sofitel Cabo de Rama, Goa

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. October 14, 2008

HONG KONG, October 18, 2006. The Accor hotel group has signed its first resort property in India, Sofitel Cabo de Rama in Goa, India. The resort is to be developed by Uniworth Resorts, a member of the JB Group of Hong Kong and will comprise some 300 rooms and a destination spa. The Sofitel is scheduled to open in 2009.

Sofitel Cabo de Rama will be located on a prominent 60-acre site in South Goa, adjacent to the oceanfront Cabo de Rama Point. The point is home to Cabo de Rama, a historic fort that came under Portuguese control in 1763 and was later occupied by the British army between 1797-1813. It was then a prison till 1955.

Today, there is a small government post and church within the towering rampart walls of the fort. The fort and Cabo de Rama Point command spectacular views of the coastline to both the south and north.

Mr. Bhupen Surani, Chairman, JB Group, said at the signing ceremony held in Hong Kong today, "We are delighted to be making our first hotel investment into India with Accor today. Accor has proven itself as a resort operator of choice throughout the Asia Pacific region and together, with the Sofitel Cabo de Rama, we expect to set a new standard amongst resorts in India. We are hopeful that our relationship with Accor will lead to other investments in future as well."

Commenting at the signing, Mr, Michael Issenberg, Managing Director, Accor Asia Pacific, said, "We are excited at our first resort venture in India, that promises to be a signature resort in every way. We are honoured at the confidence placed in us and believe our wonderful partnership with the JB Group is symbolic of our approach to doing business across Asia. Our commitment to India is wide-ranging and encompasses both investments and management contracts. We have made much progress in just two years and expect to be making a series of announcements very shortly."

JB Group, headquartered in Hong Kong, was established in 1965 by the Surani family with a diamond cutting and manufacturing facility in Surat, India. The JB Group, a prestigious 'Sightholder' of the Diamond Trading Company, is today one of the most respected manufacturers and distributors of polished diamonds and diamond jewelry in the world, with operations spanning the globe.