Accor and InterGlobe will jointly invest in budget hotel platform Treebo and become its largest shareholder. Both companies also plan to build a hospitality powerhouse together expanding Accor’s presence in India with a target of 300 hotels by 2030.
At a press conference held on Wednesday at Accor’s Fairmont Mumbai, hospitality group Accor and travel conglomerate InterGlobe announced the strengthening of their partnership to create India’s fastest-growing hospitality enterprise. With the ambition of capturing India’s booming hospitality market and combining the strengths of global leaders across the industry, the new platform will target a network of 300 hotels under Accor brands by 2030.
Hospitality sector believes that India is on track to become the world's fifth-largest outbound travel market and third-largest domestic travel market by 2027. The reasons behind this is the country’s economy growing at an estimated 7% GDP rate, a population of 1.4 billion, a rapidly emerging middle class, improved infrastructure, and increased air connectivity, which have fueled an unprecedented boom in domestic tourism and international travel.
Accor said that India’s hotel industry remains highly fragmented, presenting a major opportunity for organised and branded players. By strengthening its long-lasting strategic partnership with InterGlobe, Accor aims to unlock India’s full hospitality potential, leading the transformation of the sector while catering to Indian travelers both domestically and globally.
Accor and InterGlobe will bring together their currently owned assets, development and management businesses in the country to form one autonomous, integrated platform. This new entity will become the exclusive vehicle for growing all Accor brands in India, including luxury and lifestyle brands from Ennismore, Accor’s fast-growing hospitality portfolio. Accor will continue to lead operations and brand management and provide full access to its brands and services.
Accor and InterGlobe will jointly invest in Treebo, which manages 800 hotels across 120 cities through its unique tech-driven approach, and become its largest shareholder. Treebo will take the lead to develop the Ibis and Mercure brands in India through a master license agreement.
Under this partnership, Treebo has reached an agreement with various property owners to sign ten new Mercure’s, marking a significant milestone in the brand’s expansion in India. The combined Accor and Treebo portfolio will create India’s third-largest hospitality player, with over 30,000 rooms.
Sébastien Bazin, chairman and CEO of Accor, said, "This landmark partnership marks a transformative moment for Accor and its brands in India. By aligning with our long-term successful and trusted partner InterGlobe and bringing together the best of hospitality, tech and entrepreneurship in India, we are unlocking unprecedented growth potential in one of the world’s most exciting travel markets”.
Rahul Bhatia, group managing director of InterGlobe Enterprises, said, “We have always believed in our commitment to building meaningful and enduring relationships with both our partners and the guests we serve. Today, I am delighted to further strengthen our two-decade long association with Accor through this strategic partnership. Together with InterGlobe’s deep market insights, Accor’s world-class services, India’s dynamic growth and evolving travel landscape, we aim to redefine the hospitality experience by offering exceptional value to our guests and setting new standards for excellence in the industry.”
