India set for budget hotel boom rediff.com
India is set to add 10,000 budget hotel rooms in the next two years in response to the burgeoning demand for low-cost accommodation across the country.
India set for budget hotel boom Business Standard India
10,000 rooms to be added in the next 2 years. India is set to add 10,000 budget hotel rooms in the next two years in response to the burgeoning demand for low-cost accommodation across the country.
Accor, Emaar MGF to spend $300 m in 100-hotel plan for India Hindustan Times
Eyeing an acute shortage of hotels in India, France's Accor hotel chain has formed two joint ventures in the country to roll out two of its leading brands—Formule 1 and Ibis. In the budget hotel category, it has formed a 50:50 joint venture with Emaar MGF, which will set up 100 hotels under the brand name Formule 1 over the next 10 years, entailing a total capital expenditure of $300 million.
New-style chain of hotels to start Stuff
Christchurch property developer Dave Henderson is launching a new-style hotel chain from the building in which he once fought the taxman.
More Asia News GlobeSt.com
Alabbar adds that the new tie-up with Accor will mark Emaar MGF’s entry into the niche budget-hotel segment. Emaar MGF may float 5% to 10% of its equity in an IPO next year, says managing director Shravan Gupta. French hotel chain Accor specializes in economy and budget hotels.
Accor Takes a Major Step in its Expansion in India Hospitality Net
New Delhi | As part of its global development strategy aiming at opening 200,000 new hotel rooms by 2010, of which 60% in emerging markets, Accor has signed today significant partnerships that trigger a major expansion in India. This expansion plan covers the full spectrum of the hotel market in India, including budget Formule 1 hotels, economy Ibis hotels, mid-market Novotel hotels and
Nirmal Lifestyle to invest Rs 1,000 cr in hotels New Kerala
Mumbai, Nov 29: Real estate group Nirmal Lifestyle will invest about Rs 1,000 crore for developing five hotels and convention centres here, which would be managed by European hotel operator Accor Group.
Nirmal Lifestyles signs agreement with Accor The Hindu
Branded hotel complex to come up at Mulund in Mumbai
Mumbai to get 1,080-room hospitality precinct IANS via Yahoo! India News
Mumbai, Nov 28 (IANS) A Mumbai realtor and an international hotel chain are to create what could be India's largest single hospitality precinct here comprising five hotels with 1,080 rooms and a convention centre to accommodate 5,000 people.
Accor to invest 35 mn dollar in InterGlobe New Kerala
New Delhi, Nov 27: France-based hotel group Accor, which today entered into a joint venture with Emmar MGF for developing 100 budget hotels, plans to invest 35 million dollars as equity towards its another JV with Indian tourism company, InterGlobe.
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