IndiGo Parent Teams Up With France's Accor To Become Largest Shareholder In Oyo Rival
The InterGlobe-Accor partnership will also see the firms pool together all their currently owned assets.
InterGlobe Enterprises, parent of the IndiGo aviation brand, and French hospitality firm Accor, will jointly invest in India's budget hotels chain Treebo. Accor had initially invested in Treebo back in 2021 and has now become the largest minority shareholder.
Through this investment, the combined Accor and Treebo portfolio will create India's third-largest hospitality player with over 30,000 rooms, the companies announced in a press conference on Wednesday.
Treebo, a direct competitor to Oyo hotels, operates 800 budget hotels across 120 cities. Under the agreement, Treebo will be developing Accor's Ibis and Mercure brands in India, and it has already reached an agreement to sign 10 new Mercure properties.
The InterGlobe-Accor partnership will see the firms pool together all their currently owned assets, including their development and management businesses in India, to form an autonomous platform, Accor chief executive Sébastien Bazin said in the press conference.
This platform will be responsible for growing all Accor brands in India , including luxury and lifestyle brands from the French multinational's Ennismore portfolio, Bazin added.
The partnership aims to build 300 Accor-branded hotels in India by 2030.
