Ibis plans Rs 500 cr investment in four new properties by FY24

20 Oct 2021 CW Team

International hotel chain Ibis, owned by the Accor Group and a joint venture with Interglobe Hotels, will invest over Rs 500 crore by FY24 to add four more properties with 685 rooms.

Ibis, which just opened its 20th property in the country at Vikroli in Mumbai, with 249 rooms, making it the country's largest, has 3,808 rooms spread across 20 properties in 13 cities, three of which are in Mumbai. Since its inception in 2008, when it opened its first property in Gurugram, the JV has invested over Rs 2,700 crore.

The other Ibis hotels in Mumbai are at the airport which opened in 2011 with 148 keys and in Navi Mumbai with 196 rooms launched in 2016. There are 20 Ibis hotels in total, 19 of which are economy Ibises and one of which is a premium Ibis Styles in Calangute, Goa, with 197 rooms.

JB Singh, the president and chief executive of Interglobe Hotels, told media that since 2008, they have invested over Rs 2,700 crore across the 20 Ibis hotels, and by FY24, they will have invested over Rs 500 crore more across the upcoming four properties, bringing the total inventory to close to 4,500 rooms.

The new hotels will open in Hebbal, Bengaluru, in the third quarter of 2022, with 153 rooms; Thane, near Mumbai, with 184 rooms by May 2022; Kalina, central Mumbai, with 206 keys by the first quarter of 2024, making it the megapolis' fourth Ibis; and Vagator, Goa, with 142 rooms by the end of 2033, Singh said.

Singh said that the 20 Ibis hotels currently open in Mumbai, Kolkata, Pune, New Delhi, Gurgaon, Hyderabad, Chennai, Kochi, Coimbatore, Jaipur, Nashik, Bengaluru, and Goa have a total of 3,808 keys.

Image Source

Also read: 360 Realtors to acquire 2 lakh sq ft of commercial and retail space

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..