At a press conference held yesterday‚ Accor and InterGlobe affirmed their combined ambitions for growth in one of the world‘s leading opportunity markets for hotel expansion – India.

Gilles Pelisson‚ Chief Executive Officer of Accor says on this expansion “India today is one of the world‘s most exciting growth markets with strong demand across all segments. Together with our partners InterGlobe‚ Accor is capitalizing on this demand with a bold growth strategy that will see it have 90 hotels in India by 2015. The rate of this expansion places India as Accor‘s first emerging growth market globally.”

Since entering India in partnership with InterGlobe in 2004‚ eight hotels representing 1‚525 rooms have opened and a further 52 hotels with over 10‚000 rooms are committed‚ many of which have commenced construction. Between now and the end of the 2012‚ 21 hotels will open adding over 4.800 rooms to Accor‘s Indian hotel network.

Commenting on the current status of development‚ Rahul Bhatia‚ Group Managing Director of InterGlobe Enterprises‚ and key strategic partner for Accor in India‚ says “InterGlobe and Accor have together made giant strides in India in the past six years. Today Accor brands have one of the largest committed development pipelines of any global hotel chain in India and we are delighted to have partnered in and supported this growth. Our ibis joint venture for economy hotels is in an aggressive expansion mode‚ and our recent joint venture to establish an investment fund to catalyze further growth in the midscale and upscale hotel sector has had a strong start with seed assets of 7 hotels and 1‚750 rooms. We continue to be excited about the opportunities for growth in India and to be participating in partnership with Accor.”

The outlay as follows:

• 60 commitments across the sub continent‚ eight of which are already in operation
• 8 Accor hotels have opened in India to date
• 19 ibis hotels committed in the ibis joint venture with InterGlobe Hotels
• Blue chip investors joining in expansion through investment stake in a recently announced fund
• 90 hotels by 2015 and India‘s leading international hotel operator
• Sofitel‚ Pullman and Formule1 hotel brands to debut in 2011

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