Last Wednesday one of the leading hotel operators, Accor and InterGlobe, a travel corporation announced that they are establishing an investment fund for a chain of hotel assets.
In the fund, both InterGlobe and Accor would hold 32% equity share.
Also, according to a press statement, an affiliate of Pacifica Partners (Pacifica) will have 36% equity share.
Currently, InterGlobe and Accord own seven hotels in India which would contain 1,750 rooms in all. An approximate amount of 325 million dollars is expected to be the cost of these hotels infrastructure.
It is expected that between 2011 and 2013, all the seven hotels would start operating.
