France-based global hotel brand company Accor is pivoting its expansion strategy in India.
India’s Competition & Markets Authority has given permission for InterGlobe Hotels and Accor to merge with and make acquisitions in absorbing several domestic hotel entities into their jointly held Indian portfolio.
These mergers and acquisitions will see several firms become part of InterGlobe Hotels, which was founded in 2004 in a joint venture between InterGlobe Enterprises, which owns 60%, and French firm Accor, which owns the remainder.
The relevant domestic Indian companies are AAPC India Hotel Management, Accent Hotels, Caddie Hotels, Srilanand Mansions, Techpark Hotels and Triguna Hospitality Ventures.
The Bhatia Group family office is the principal owner of InterGlobe Enterprises, the parent of InterGlobe Hotels.
On Aug. 4, Accor and InterGlobe canceled their investment and partnership with fellow Indian hotel firm Treebo, which was initially announced in April 2025. That plan was heralded as the start of the second phase of the Hospitality Enterprise partnership between InterGlobe and Accor, with the goal of opening 300 hotels in India under Accor brands by 2030.
Accor currently has 75 hotels in India.
“Ultimately, [the partners] could not align our positions on crucial issues. [Treebo] remains bullish about the opportunities we are pursuing and continue to build our business independently, aiming to reach 2,000-plus hotels in the next five years in the economy segment and 100-plus in the mid-market segment,” Treebo said in a statement obtained by the Hindu Business Line.
There has been a flurry of initial public offerings and listings by hotel chains on the Indian bourses, whereas over the last decade, such listings have been rare. The impetus mostly has been the huge drive in domestic tourism and disposable income across India.
In the last 18 months, recent listings by Indian hotel companies have included Apeejay Surrendra Park Hotels; Brigade Hotel Ventures; ITC Hotels; Juniper Hotels; and Samhi Hotels Ventive Hospitality.
In 2024, the National Stock Index of India launched the Nifty India Tourism Index, a vehicle to provide more sophistication and benchmarking to the sector and a wider pool of potential investors.