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Accor hotels accelerate expansion in India

Chairman and CEO of Accor Gilles Pellison.
Posted by (ACER) Australian Council for Educational Research in Business on 29 Jul 2010 at 02:15 am

By Rama Gaind
A new investment fund is set to accelerate the expansion of the Accor hotel brand in India with initial assets valued at approximately US$325 million.
Accor and InterGlobe have announced the establishment of the fund for a portfolio of India hotel assets, and subject to necessary regulatory approvals, an affiliate of Pacifica Partners (Pacifica) will take a significant stake of up to 36% equity in the fund. Accor and InterGlobe will each hold 32% equity in the fund.
The fund will initially hold the assets for seven hotels in India which are currently jointly owned by Accor and InterGlobe, representing 1,750 rooms. Accor’s first property in India - Novotel Juhu Beach - opened in Mumbai in July 2009. This flagship property epitomises luxury. Spread over 2.5 acres of a scenic beachfront site, Novotel has 203 guest rooms and suites with views overlooking the Arabian Sea.
The new hotel developments are all in key gateway cities of India with prime locations including at the recently opened Delhi International Airport, one of Asia’s newest and largest airports. All seven hotels will open between 2011 and 2013. They are: 1.Pullman Delhi International Airport, 270 rooms 2.Novotel Delhi International Airport, 400 rooms 3.Novotel Bangalore Outer Ring Road, 220 rooms 4....
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Getting women into business  

Posted by Lighthouse from Fyshwick
in Business - Financing
on 26/03/2010 at 01:25 PM

Address: 6/65 Tennant Street, Fyshwick ACT 2609 

Lighthouse Business Innovation Centre, a local not-for-profit business accelerator, will host an orientation session for the ACT Women’s Microcredit Program on Thursday 1 April. Lighthouse is delivering the program with assistance from the ...

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