New Delhi: Hospitality firm InterGlobe Hotels said on Thursday that it will open 13 new hotels under economy brand 'ibis' across the country by 2015, entailing an investment of nearly Rs 600 crore exclusive of land cost of the projects.
InterGlobe Hotels President and CEO Uttam Dave said, "We will be opening 13 new hotels across India by 2015 thereby adding 2,000 rooms. The investment will be Rs 30 lakh on an average per room. This is excluding the land cost." He also added that all the new hotels will be under the ibis brand. Dave was speaking on the sidelines of 'Hi Aim 2013', hospitality industry's conference and exposition on architecture, interior design and management here.
InterGlobe Hotels is a joint venture between hospitality major Accor and InterGlobe Enterprises. The company currently has 1,500 rooms spread across its seven properties in India. "The new hotels will be located in Delhi, Mumbai, Nasik, Kolkata, Bangalore, Pune, Jaipur and Hyderabad among others," Dave said.
When asked about how the company proposes to raise finances for the expansion, Dave said it will be a mix of debt and equity. Since its creation in 1974, ibis has expanded continuously and currently has a network of 983 hotels consisting of 121,004 rooms in 58 countries.
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