New Investment Fund for Hotel Chain
On Wednesday last week, two prominent entities in the hotel industry, Accor and InterGlobe, announced the establishment of an investment fund for a chain of hotel assets.
Equity Distribution
- InterGlobe and Accor will each hold a 32% equity share in the fund.
- An affiliate of Pacifica Partners (Pacifica) will hold a 36% equity share according to a press statement.
Current Assets
Currently, InterGlobe and Accor own seven hotels in India. These facilities collectively feature 1,750 rooms. The estimated cost for the infrastructure of these hotels is approximately 325 million dollars.
Operational Timeline
It is anticipated that all seven hotels will commence operations between 2011 and 2013.