InterGlobe Hotels, a joint venture between InterGlobe Enterprises Pvt Ltd and Accor Asia Pacific (with a 60:40 ownership ratio), will be investing approximately INR 550 Crore to establish two new properties in Mumbai and Bengaluru by 2025.
The company inaugurated its latest ‘ibis Styles’ hotel in Vagator and intends to unveil a new ‘ibis’ branded property in Mumbai by the end of the next year, with a subsequent launch of a Novotel-branded hotel in Bengaluru in early 2025.
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JB Singh, President and CEO of InterGlobe Hotels, highlighted that the inauguration of ibis Styles Vagator marks the addition of the 23rd ibis property in India. However, when considering the overall portfolio, the company currently operates 28 hotels, with two more actively under development. The Ibis property in Mumbai is scheduled to open late next year, followed by the Novotel in Bangalore within 2-4 months of the Mumbai opening or in early 2025.
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