Restaurant India News: Accor, InterGlobe Weigh IPO for Joint Hospitality Venture Targeting 300 Hotels by 2030

Europe’s largest hospitality group, Accor, and India’s aviation-to-hospitality major InterGlobe are considering listing their joint hotel business on the stock market. The two partners plan to develop 300 hotels in India by 2030, according to Ranju Alex, CEO – South Asia, Accor.

In April last year, Accor and InterGlobe announced that they were strengthening their partnership to build a new hospitality platform that will create a network of 300 Accor-branded hotels across India by the end of the decade. Ranju Alex said the company is now looking at going public in the near future. She explained that this move marks a major shift, as the group will move from being only a hotel management operator to also owning hotel assets, while continuing to manage them.

She added that this is an exciting phase for the company, as India has become one of the strongest hospitality markets globally. While the current target is 300 hotels by 2030, the company hopes to exceed that number.

Speaking about performance, Alex said 2025 was a record year for Accor in India, with nearly 4,000 rooms signed — the highest in its history. Although the India-Pakistan tensions affected business briefly, the market recovered quickly. Revenue per available room (RevPAR) grew by around 12% compared to 2024.

Accor also expanded its luxury portfolio by opening landmark properties such as Fairmont Udaipur Palace and Fairmont Mumbai, both of which have performed well. The company now aims to reach five-digit room signings this year. The group has also expanded in metro cities like Delhi and Chennai. While earlier growth focused on premium and mid-scale hotels, luxury development has now picked up sharply. Accor has signed an ultra-luxury Sofitel Legend property in Jaipur, a Sofitel hotel in Rishikesh, and three more Sofitel hotels in Mumbai.

For context, Ennismore is a joint venture formed in 2021 between Accor and the original Ennismore hospitality platform, with Accor as the controlling shareholder. “We are excited about the debut of Ennismore in India. Ennismore has been a highly successful business model in the US, parts of Europe, and the Middle East. I am glad it is coming to India,” Alex said.

Meanwhile, Accor is also doubling down on food and beverage innovation. “We are extremely robust in our food and beverage offerings. Ennismore and our food and beverage offerings are going to give India that edge. We have a team of 300-plus people only working on F&B brands. We are also exploring opportunities in the standalone restaurant space,” she added.

Summing up the broader market, Alex said India’s strong economic momentum is benefiting the entire hospitality sector. “But, our path is very different. We will invest and build and run hotels, and we have far more offerings than others. We are all going for growth, but our growth is about sustainable, value-led growth and not just about signing rooms,” she concluded.

Accor and InterGlobe’s evolving strategy signals a major shift in India’s hospitality landscape. By combining asset ownership, luxury expansion, lifestyle brands, and a potential public listing, the partnership aims to build a scalable, value-driven hospitality platform that goes beyond traditional hotel management—positioning India as a central pillar in Accor’s global growth story.