Accor expansion centres on India

Accor has unveiled plans for massive expansion into India as part of its strategy to open 200,000 rooms by 2010, 60% of which will be in emerging markets. Accor has gone into partnership with budget chain Formule 1 to develop 100 properties in India in a £154m deal. Dubai-based EMAAR group will develop the sites, with the first ten scheduled to open in the next two years. “India is one of the world’s most dynamic economies with rapidly growing inbound, outbound and domestic travel sectors,” said Accor chief executive officer Gilles Pelisson. “There is currently a pronounced shortage of international-standard accommodation across India – this is a significant response to it.” A joint venture with Interglobe will see 15 Ibis properties open their doors by the end of 2007. The £92m move will see openings in areas such as Mumbai, Bangalore (including a complex combining an Ibis and Novotel), New Delhi, Pune, Jaipur and Hyderabad. At the mid-priced bracket, Accor is currently in discussions with Indian business groups about rolling out its Mercure brand on the sub-continent, and a new Novotel is being built in Gurgaon, New Delhi. At the top end, a second Sofitel will be added at the Bandra Kurla complex in Mumbai in 2009.

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