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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

Luxury Hotels

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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