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InterGlobe Hotels plans to invest Rs 10 billion, expand ibis hotels network

Singh said the company is looking at 18-19 new cities for an expansion besides building more hotels in its existing markets

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The rise of domestic travel, helped by rising income levels, is helping the industry offset the sluggishness in business from foreign visitors

Ajay Modi New Delhi
InterGlobe Hotels, a joint venture between Indigo Airlines owner InterGlobe Enterprises and the French hospitality major Accor plans to invest Rs 10 billion in expanding its portfolio of mid-market hotels in the country. The Gurgaon-headquartered company now owns sixteen hotels that are run under the ibis brand.

The fourteen-year-old JV has invested approximately Rs 20 billion in setting up multiple hotels since inception. The seventeenth hotel is ready for a launch in Kolkata next month. “We have another five hotels under various stages of development and will get launched by 2020. The committed investment in these is Rs 6 billion

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First Published: Oct 30 2018 | 11:24 AM IST

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