A Newer version of Cyberabad Times is now available.

Accor coming to Hyderabad

Hotel group Accor is to develop at least 25 Ibis properties in India and South Asia in the next 10 years in conjunction with Indian travel and technology management company InterGlobe Enterprises. The companies are expected to invest USD200 million in the joint venture project to be known as InterGlobe Hotels. Accor has taken a 40 per cent stake in the new venture.

The companies say they aim to position Ibis hotels as the preferred 'best value international hotels' across the region. In India, development activity for Ibis hotels is already underway in Bangalore and Gurgaon. Sites have also been identified in Pune and Jaipur. Target cities for future development are Mumbai, New Delhi, Chennai and Hyderabad.

Accor is also pursuing management opportunities in the sub-continent and actively negotiating the management of two purpose-built 300-room Novotel properties at Gurgaon and Hyderabad. Accor is also in discussion to manage Novotels at Chennai, Mumbai and Pune. Accor said it expected to introduce its other major brands - Sofitel and Mercure - when appropriate projects became available.
Email article Print article Timeline

Did you know? Your rating actually effects the news aggregated. Please rate and make this site serve you better!

Related tags

loadingLoading Tags...

Headlines

Live Weather

Picture of the day

Drag widget

Market Watch

Drag widget

Horoscopes

Drag widget