InterGlobe Hotels, a joint venture between InterGlobe
Enterprises and Accor Asia Pacific, is launching an aggressive move
to invest nearly $200 million to develop at least 25 'Ibis' brand
hotels across India and South Asia over the next decade.
The move will establish an India-wide internationally-branded
economy hotel network that is expected to fill a void in the
hospitality sector and cater to extra demand that has resulted from
the growth in domestic and international travel.
The venture by InterGlobe, India’s leading travel and technology
management company, and Accor, one of the world’s largest hotel and
tourism enterprises, seeks to position the Ibis hotels as the
preferred “best value international hotels” across the region. With
over 650 hotels and close to 70,000 rooms in 36 countries, Ibis
hotels are known for their quality and value.
Development for Ibis hotels is already under way in Bangalore
and Gurgaon. Sites have also been identified in Pune and Jaipur.
Together these hotels will have over 700 rooms. Target cities for
future development are Mumbai, the National Capital Region, Chennai
and Hyderabad.
Accor also is pursuing management opportunities and negotiating
the management of two 300-room Novotel brand hotels at Gurgaon and
Hyderabad, and is in discussion to manage Novotel hotels at
Chennai, Mumbai and Pune.
“We at InterGlobe have a firm belief in India's travel and
tourism story, especially in enterprises that provide consumers
true value for money. Our joint venture with Accor for Ibis economy
hotels extends the large footprint we already have across India's
travel landscape,” said Rahul Bhatia, managing director, InterGlobe
Enterprises.
