InterGlobe Hotels, a joint venture (JV) between InterGlobe Enterprises and the French hospitality major Accor, plans to invest Rs 10 billion in expanding its portfolio of mid-market hotels in the country.

The company presently owns 16 hotels that are run under the Ibis brand. The JV has invested approximately Rs 20 billion in setting up multiple hotels since inception. The company’s 17th hotel is ready for a launch in Kolkata in November 2018 and has another five hotels under various stages of development which will be launched by 2020.

The committed investment in these is Rs six billion while it is scouting for more sites. Besides these hotels, InterGlobe Enterprises also has few special purpose vehicles with Accor under which it owns seven hotels run as brands like Novotel and Pullman. It also has a 49 percent stake in the India operating firm of Accor.

The company is looking at 18-19 new cities for expansion, besides building more hotels in its existing markets such as Mumbai and Goa.