New Delhi, Sep 2 (Inditop.com) Global hospitality chain Accor Wednesday said it would invest $130 million (Rs.636 crore) in expanding its India network to 50 hotels by 2012.
The hotel major currently operates five hotels with a capacity of 1,100 rooms under three brands: Mercure – a four-star midscale hotel, Ibis – a three-star hotel in the economy category, and Novotel – a five-star brand.
After the expansion, the number of rooms under its management will increase to over 10,400.
“We will have six brands by 2012, Sofitel, which is a five-star luxury hotel; Pullman, which is in the five-star category, and Formule 1, which is a budget hotel brand,” said Asia Pacific chairman and chief operating officer Michael Issenberg.
As part of its growth plans, Accor will concentrate on Novotel, which will see the number of its rooms go up to 4,279, and Ibis, which will increase capacity to 3,126 rooms.
“By early 2010, there will be three Ibis hotels in Gurgaon, Mumbai and Pune, with seven more being completed by 2011,” said Uttam Dave, Accor’s head of development in India.
Accor operates in India through two principal joint venture partners.
The first is Interglobe, with which it is developing the Ibis chain of hotels and three hotels that are a part of Aerocity – the hospitality precinct at Delhi International Airport.
The other partner is Emaar MGF, which will help it develop the Formule 1 brand of budget hotels.
In addition to the principal partners, Accor has smaller tie-ups for specific properties.
“We operate in India through various management agreements and joint ventures,” said Dave.
The investment of $130 million will be split up between managed properties and joint venture entities.
