Ibis to invest over Rs 500 crore to add 685 keys across 4 hotels by FY24

Stocks

Ibis, which last week opened its 20th property in the country at Vikroli in Mumbai offering 249 keys making it the largest, operates 3,808 rooms across 20 properties in 13 cities — three of them in the megapolis alone — in the country.

PTI

October 18, 2021 / 02:20 PM IST

Quarantined Associated Press photographers in Shanghai; Hong Kong; Sydney; Kuala Lumpur, Malaysia; Taguig, Philippines; and Taipei, Taiwan; shared their experiences as they wait to go home. Their required hotel quarantines range from a week in Hong Kong to three weeks in Shanghai. Most are two weeks. (Image: AP)

Quarantined Associated Press photographers in Shanghai; Hong Kong; Sydney; Kuala Lumpur, Malaysia; Taguig, Philippines; and Taipei, Taiwan; shared their experiences as they wait to go home. Their required hotel quarantines range from a week in Hong Kong to three weeks in Shanghai. Most are two weeks. (Image: AP)

Lifestyle focused mid-segment international hotel chain Ibis, a part of the French hospitality major Accor Group and a joint venture with Interglobe Hotels, will be investing over Rs 500 crore to add four more properties offering 685 keys by FY’24.

Ibis, which last week opened its 20th property in the country at Vikroli in Mumbai offering 249 keys making it the largest, operates 3,808 rooms across 20 properties in 13 cities — three of them in the megapolis alone — in the country.

The JV has invested over Rs 2,700 crore since it began operations in 2008 with the maiden property in Gurugram. Ibis, which last week opened its 20th property in the country at Vikroli in Mumbai offering 249 keys making it the largest, operates 3,808 rooms across 20 properties in 13 cities — three of them in the megapolis alone — in the country.

The 15-floor tall Ibis Vikhroli symbolises the Aamchi Mumbai culture and cost the property developer Rs 230 crore. Interglobe Hotels is the hospitality arm of the holding company of country’s largest airline Indigo.

The other Ibis hotels in Mumbai are at the airport (148 keys opened in 2011), and in Navi Mumbai (196 rooms launched in 2016). Of the 20 Ibis hotels, 19 are economy Ibises, and the other is premium Ibis Styles at Calangute in Goa offering 197 keys. JB Singh, the president & chief executive of Interglobe Hotels, told