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Accor has signed a deal with property developers EMAAR to develop 100 Formule 1 hotels in India . The agreement involves a joint investment of over US $300m (”153m). The 80-room hotels will be in city locations ” the exact locations have yet to be confirmed ” and 10 are due to be completed in the next two years.
In a deal with InterGlobe, the hotel group is also set to develop a further 15 Ibis hotels in the country. The US $180m (”92m) deal will include five hotels in key business centres, including Gurgaon (New Delhi), Mumbai, Pune, Jaipur and Hyderabad, as well as a complex combining Ibis and Novotel in Bangalore with 380 rooms.
A Novotel is currently under development in Gurgaon. The hotel, which is due to open in 2008, will have 320 rooms.
And in yet another deal in India, Accor has signed a joint venture with Mumbai-based Naman Developers Ltd to develop a new Sofitel hotel in the city. The 300-room hotel is scheduled to open in 2009. Another of the same brand ” and the hotel group”s first Indian resort ” is under development in Goa. Uniworth Resorts, a member of the JB Group of Hong Kong, are working on the Sofitel Cabo de Rama, which is located on Goa”s waterfront. It too is set for completion in 2009.