Accor is bullish on India, with plans to open another 25 hotels in the next two years, taking the number of operational hotels to 50 by the end of 2015.
"Despite the interim challenges, the country holds immense growth potential from a hospitality point of view," Sebastien Bazin, chairman and CEO, Accor tells Travel Trends Today. "We are making a 20-year bet on India because we have a conviction that India is a country where you have everything to succeed."
The brand is investing in the economy/budget segment and mid-scale hotels, with very little money being poured into the luxury and upscale segments. They are expanding on the Novotel and Ibis brands because demands for these is growing fastest. "Eighty percent of Accor's demand comes from the corporate sector. The remaining 20 percent is leisure-related," says Bazin.