- Accor Ltd and InterGlobe consider a public listing for their hotel JV.
- The JV is shifting focus from premium and midscale to luxury hotels.
- It aims to cross 300 hotels by 2030 and will invest in and operate assets.
ACCOR LTD AND InterGlobe Enterprises are considering a public listing for their joint hotel venture, which plans to open 300 properties by 2030. The joint venture’s focus has shifted from premium and midscale to luxury properties.
Accor said 2025 was a record year for it in India, with about 4,000 rooms signed, its highest ever, The Economic Times reported, citing Ranju Alex, CEO for South Asia. Accor also opened hotels in Delhi and Chennai.
“We are considering taking the public route in the near future,” Alex said. “From a management operator model, we will now own assets. We will invest in and operate them.”
Accor signed a Sofitel Legend hotel in Jaipur, a Sofitel in Rishikesh and three Sofitel hotels in Mumbai.
“We aim to reach 300 hotels by 2030 and plan to exceed that target,” she said.
Alex discussed the shift to luxury signings.
“We are looking forward to launching the Raffles Hotels & Resorts hotel in Ranthambore and the Fairmont Hotels & Resorts in Agra,” she said. “The opening of Roswyn, a Morgans Originals hotel in Mumbai, has been a milestone.”
“It is our first Ennismore hotel in India,” she said. “The next, The Hoxton, is coming to Bengaluru and is expected to open by year-end.”
Ennismore was formed in 2021 as a joint venture between Accor and Ennismore. Accor is the controlling shareholder.
“Ennismore has been successful in the U.S., parts of Europe and the Middle East and we are bringing it to India,” Alex said.
Alex said India’s economic growth is driving gains across hotel chains.
“We will invest, build and operate hotels,” she said. “Our growth is focused on sustainable, value-led expansion, not just signing rooms.”
In April last year, the companies said they would expand their partnership to target 300 hotels under Accor brands by 2030. In May, they appointed Gaurav Bhushan as chairman of their hospitality JV.
