Hotel giant Accor plans huge expansion in India
French hotel and services giant Accor plans to have 90 hotels in operation in India by 2015 compared with just eight presently, chief executive Gilles Pelisson said Wednesday.
"India today is one of the world's most exciting growth markets with strong demand across all segments," Pelisson told reporters in New Delhi.
"Together with our (Indian) partner InterGlobe, Accor is capitalising on this demand with the strategy that will see it have 90 hotels in India by 2015."
Contracts for 60 hotels have already been signed and 21 will be opened over the next two years.
Accor and InterGlobe currently run eight hotels across India under three different brands -- Novotel, Ibis and Mercury.
Pelisson said Accor had committed 150 million dollars of investment to realise its 2015 target, of which more than 50 percent had already been spent.
"We are in great expansion mode in India. We are going to invest on building hotels in the mid-scale and economy segment," Pelisson said.
© 2010 AFP