InterGlobe Hotels to Invest Rs. 550 Crore in New Hotels in Mumbai and Bengaluru by 2025
InterGlobe Hotels is investing Rs. 550 crore for New Mumbai & Bengaluru Hotels by 2025—Offering luxury & growth opportunities.
InterGlobe Hotels is set to invest approximately Rs 550 crore for two stunning properties in Mumbai and Bengaluru by 2025.
InterGlobe Hotels, a huge 60:40 joint venture between InterGlobe Enterprises Pvt. Ltd. and Accor Asia Pacific, recently celebrated the grand opening of its latest 'ibis Styles' hotel in a ceremony. They want to open a new 'ibis' property in Mumbai by the close of the next year, followed by the inauguration of a luxurious Novotel hotel in Bengaluru in early 2025.
JB Singh, the President and CEO of InterGlobe Hotels, shared his enthusiasm for the project.
During an interview, Mr. Singh said, "This (ibis Styles Vagator) marks our 23rd ibis property in India, and when you consider our portfolio as a whole, it encompasses 28 hotels. With these two new additions currently under active development, our ibis gem in Mumbai is about to open its doors late next year. Following this, the Novotel jewel in Bengaluru will be completed within 2-4 months of its Mumbai counterpart, or possibly earlier in 2025.".
As for the financial scope, Mr. Singh disclosed, "In Mumbai, our ibis property will have 207 rooms, with an investment of approximately Rs. 250 crore. Meanwhile, in Bengaluru, the Novotel brand is set to offer a little over 140 rooms, accompanied by an investment estimated at Rs. 300 crore."
Beyond the horizon of 2025, InterGlobe Hotels has a vision for 2030. Mr. Singh mentioned that they are actively exploring numerous projects. However, formal announcements are pending board approval, which is expected in the next six months.
Furthermore, they are not just considering big cities but also looking at smaller cities and even Goa for leisure travellers.
When it comes to revenue growth, Singh had encouraging news to share, citing a positive trajectory. The company's 2023 plan aims to achieve a remarkable revenue milestone of Rs. 1,100 crore.
Since its inception in 2004 with a mission to establish a network of 'ibis' hotels spanning India, Nepal, Sri Lanka, and Bangladesh, InterGlobe Hotels has demonstrated huge commitment. Singh concluded by emphasising their impressive commitment, outlining an investment of Rs. 6,000 crore spread across 30 hotels.
