Booming Hotel Development: Meeting the Surge in Demand Across Key Markets

InterGlobe Hotels is expanding its budget brand, ibis, due to high demand and capacity shortages in key markets like Mumbai. With new projects underway, the company is poised for growth as the economy continues its upward trajectory, highlighting the need for more well-located establishments.

Amidst a capacity crunch and surging demand, InterGlobe Hotels is seizing the opportunity to expand its budget hotel brand, ibis, in collaboration with Accor. The newly unveiled 206-room property in Mumbai's Bandra-Kurla Complex is a testament to the company's growth strategy.

President and CEO J B Singh highlighted the critical importance of Mumbai as a key market, stressing the challenge posed by limited land availability in the city. As business and travel demands outpace supply, Singh outlined the need for strategic land acquisitions to maintain competitive growth in under-penetrated segments.

Despite the high cost of real estate, InterGlobe plans to persist with its strategy of addressing demand in the top metros, while also evaluating opportunities in tier-two cities. With significant investments in regions like Maharashtra, the company expects robust growth, driven by thriving economy and increasing events.

(With inputs from agencies.)