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Interglobe Hotels Decide to Invest INR 700 Crore to Set Up Six More Hotels in India

InterGlobe Hotels, a conglomerate between Accor Hotels and InterGlobe Enterprises, decides to endow money up to INR700 crore to establish six more hotels in India by 2022
BY BEx Bureau
BusinessEx
Apr 30, 2019

InterGlobe Hotels, a conglomerate between Accor Hotels and InterGlobe Enterprises, decides to endow money up to INR700 crore to establish six more hotels in India by 2022, a company official told the Indian daily news, First Post.

At present, the company owns 19 hotels across India under the brand name Ibis alongside 3,559 rooms.

"By 2022, we will have up to 25 hotels in India. We will be adding 6 more hotels in the country. We will be investing around Rs 700 crore for this expansion," InterGlobe Hotels President and CEO, J B Singh toldPTI (Press Trust of India).

The new hotels will be established in Mumbai, Thane, Goa and Bengaluru. By setting up six new hotels, the company will be adding up 980 rooms, Singh told the Indian daily news, PTI.

Singh informed that InterGlobe Hotels has endowed INR 2,000 crore in Ibis hotels so far.

"In our system of development, we look at almost 200 opportunities in a year where we can invest, but we have our own criteria for investment. We focus on the cities and locations where we want to be present," Singh apprised the Indian daily news, PTI.

Secondly, the company also follows the strategy of densifying presence in the cities where we are already present, he added.

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