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Accor-InterGlobe joint venture scales up Indian portfolio
Shekhar Niyogi, Kolkata, November 2, 2012
 

INTERGLOBE Hotels, a joint venture between Accor and InterGlobe, has outlined plans to beef up its Indian portfolio by launching 19 new hotels with 3,600 rooms by 2015.

 

“We will open a 145-key Ibis Hotel in Jaipur and a 465-key property in Gurgaon, Delhi NCR by the end of 2012,” said Uttam Dave, president and CEO, InterGlobe Hotels. “The asset value of all 19 properties is US$360 million and we have already invested US$170 million into the venture.”

 

Of the 19 hotels in the pipeline, nine are currently under construction and seven are already operational in Bangalore, Pune, Gurgaon, Nasik, Mumbai and Navi Mumbai. InterGlobe Hotels’ immediate plans are to build hotels in cities like Cochin, Coimbatore and Goa.

 

Another six properties under discussion are expected to be finalised soon, which will add 900 rooms to bring the joint-venture inventory to 25 hotels and 4,500 rooms by 1Q2017.

 

Jean-Michel Cassé, senior vice president of operations, Accor India, said: “Accor is focused on India as a core growth market, and the expansion in 2012 has been positive with a number of significant openings during the year. We are very happy with the opening of our properties in Navi Mumbai, Nasik, Thane and Pune.”

 

 
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