InterGlobe Hotels, a joint venture (JV) between InterGlobe Enterprises and global hospitality company Accor Hotels, plans to add six hotels in India by 2022.
The company plans to make an investment of around Rs 700 crore towards the expansion. The new hotels will come up at Bengaluru, Mumbai, Thane and Goa.
With addition to these six hotels the company will also add around 980 rooms.
The expansion projects will be funded through a mix of debt and equity; around 50 percent will be equity and the remaining 50 percent will be debts.
The company presently owns 19 hotels across the country that run under Ibis brand with 3,559 rooms.
The company intends to have 25 hotels in India by 2022.