InterGlobe Hotels, a joint venture between InterGlobe Enterprises Pvt Ltd and Accor Asia Pacific, is expanding its presence in India with two new properties in Mumbai and Bengaluru by 2025, investing around Rs 550 crore. The 'Ibis’ Styles hotel is already open, and an 'Ibis' property in Mumbai will follow in 2023, with a Novotel-branded hotel in Bengaluru slated for early 2025. The company sees India's growth potential with a 2030 plan and an ambitious revenue target of Rs 1,100 crore for 2023, affirming its long-term commitment to India's growth over the next few decades.
InterGlobe Hotels, a joint venture between InterGlobe Enterprises Pvt. Ltd. and Accor Asia Pacific, is embarking on a strategic expansion journey with an investment commitment of approximately Rs 550 crore. JB Singh, President and CEO of InterGlobe Hotels, announced the ambitious plans, which include the establishment of two new properties in Mumbai and Bengaluru by 2025. The company recently celebrated the grand opening of its 'Ibis’ Styles hotel and unveiled its vision for future growth. This strategic roadmap entails the launch of an 'ibis' property in Mumbai by late next year, followed by the inauguration of a new 'Novotel' branded hotel in Bengaluru in early 2025.
JB Singh provided a glimpse into the company's vision, revealing that the opening of 'ibis Styles Vagator' marks the 23rd ibis property in India. Currently, they operate 28 hotels in their portfolio, with two more in active development. Notably, the Ibis Hotel in Mumbai is scheduled to welcome guests in late 2024, followed closely by the Novotel in Bangalore, set to open its doors within 2-4 months or by early 2025. This timeline underscores the company's commitment to these dynamic expansion endeavours. When inquired about the investments in these new properties, Singh divulged that the Mumbai Ibis project would incorporate 207 rooms with an estimated investment of roughly Rs 250 crore, while the Novotel venture in Bangalore, featuring slightly over 140 rooms, would likely involve an investment of about Rs 300 crore.
The strategic expansion is a pivotal part of InterGlobe Hotels' growth strategy, which aims to solidify its presence in key Indian cities. The company's vision is to create exceptional and contemporary spaces that cater to the evolving needs of its guests and contribute to the thriving hospitality landscape in the country. With this significant investment commitment, InterGlobe Hotels is poised to make a lasting impact on the hospitality sector. JB Singh hinted at the company's future plans, revealing that they have a 2030 plan in active evaluation with several projects under consideration. While these plans are currently in the assessment phase, he expressed confidence that formal announcements would be forthcoming within the next six months.
A profound belief in India's growth potential and the robustness of its economy drives InterGlobe Hotels. As urbanization continues to reshape the country, the company remains committed to addressing the needs of both major metropolitan centres and emerging Tier II and III markets. Goa, in particular, stands out as a frontrunner in the leisure segment for InterGlobe Hotels. The company aims for robust revenue growth, with an ambitious target of Rs 1,100 crore in 2023. JB Singh fundamentally believes in the long-term commitment and vision of India's growth and opportunities over the next 20–30 years.
Established in 2004, InterGlobe Hotels has committed an impressive investment of Rs 6,000 crore across 30 hotels in its mission to develop a network of 'ibis' hotels across India, Nepal, Sri Lanka, and Bangladesh. This latest investment is a testament to the company's unwavering dedication to delivering exceptional hospitality experiences and its vision to play a pivotal role in shaping the future of the Indian hospitality industry.
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