Accor to invest euro 150mn for hotels in India

MUMBAI: Accor Hospitality plans to set up 40 hotels in the country with an investment of euro 150 million in the next three years.
   
"We have an aggressive expansion plan in India and we will have at least 40 hotels in the next three years pan- India," Accor's Senior Vice President Development, Asia Pacific, Gaurav Bhushan told.

The group plans to have its hotels in Mumbai, Delhi, Hyderabad, Pune and would also stress on mini metros, he said.
   
Presently, the group has only one hotel at Hyderabad.

"There is a huge demand for quality hotels and also budget hotels in the country. We are planning to have about six hotels both luxury and budget by the end of December 2008," Bhushan said.

Stressing on Mumbai as a key market he said the group would come up with two hotels in Mumbai by the end of 2008.

"We are coming up with a hotel in Bandra Kurla complex under the group's flagship category called Sofitel. It belongs to the range of luxury hotels and will have around 315 rooms," he said.

The other hotel will be under IBIS category, which is the economy and mid-scale segment. This hotel will have around 175 rooms, he added.

"We are exploring other Tier I and Tier II cities also for our expansion plans," he added.

Land acquisition is a little difficult in the metros but in the mini metros it is easier to get, he said.     

The group is also eyeing for acquisition and JVs for its expansion plans, Bhushan said.