Accor: We’ll be No 1 in India-18 August, 2010

Accor: We’ll be No 1 in India-18 August, 2010: "Accor: We’ll be No 1 in India

Accor says it is on target to be the number one international operator of hotels in India by 2015 with 90 hotels across all segments of the market from low cost to luxury.

Since Accor entered India in partnership with InterGlobe in 2004, eight hotels representing 1,525 rooms have opened and a further 52 hotels with over 10,000 rooms are committed,

Between now and the end of the 2012, 21 hotels will open adding over 4.800 rooms to Accor’s Indian hotel network.

Pacifica, a joint venture between Host Hotels and Resorts and the real estate investment arm of the Government of Singapore Corporation (GIC) has recently taken a stake in Accor’s and InterGlobe’s expansion plans for India through the creation of a new joint investment fund.

This fund will initially have seven strategic assets which will all be managed by Accor.

Through the ibis hotel joint venture between Accor and InterGlobe, 19 ibis hotels have been committed.

During the first quarter of 2011, two additional Accor brands will debut in India with the opening of a Sofitel in Mumbai and Pullman in Gurgaon.

Accor’s low cost Formula 1 brand will also open its first hotel for India in the second half of 2011.

Accor will invest predominantly in the low cost to midscale segments and operate as a manager in the upscale and luxury segments of the market.