"There is a huge demand in the hotel and hospitality sector inthe Indian Nation primarily in the under-represented three-, four-and five-star category," Riric CEO Manoj Benjamin explains in arelease. "This strategic partnership was forged to address theseissues."

The venture will further establish Riric's position in theIndian hotel arena, he adds, part of a multi-faceted investmentinto the country that began in 1999. Featuring offices inVancouver, England; London; and Bangalore, India, Riric is creatingnew transit and sewage infrastructure, and is also active inmodernizing India's commercial, housing and technology sectors tomeet the demands being placed on the rapidly growing economy. Thedeal with Choice Hotels will put Riric's direct investment into thecountry to date at more than $6 billion.

Choice Hotels India already has a substantial presence in India,but company officials maintain the market fundamentals can supportadditional exposure. Noting that the entire country has just110,000 hotel rooms, about the same as New York City-based ChoiceHospitality India CEO Vilas Pawar says the aim is to capture "thegrowing inbound, outbound and domestic travel sectors across thecountry," with hotel demand outstripping supply in most areas.Choice Hotels India is a master franchisor of Choice HotelsInternational and already has hotels in 22 Indian cities, includingChennai, Lucknow, Nashik, New Delhi, Shimla, Trivandrum andVijayawada.