Emaar MGF and Accor, global leaders in economy and budget hotels,
signed a joint venture agreement to bring the Formule 1 brand of budget hotels to India. The new venture, “Budget Hotels India Private Limited”, has planned investments of US$300 million over ten years.

We have already identified potential locations across the country for the development of Formule 1

hotels. Starting with major metros, we are looking at developing 50 hotels in the first five years of its operations, with the remaining 50 to be developed in the second phase. The total development will add 10,000 hotels rooms that cater to the budget travelers.

benchmark for low-cost hotels in the world, comprises over 650 hotels with 57,000 rooms in 12 countries, including France, Germany, Italy, Great Britain, Brazil, South Africa, Japan, Indonesia and Australia.

We have signed a 50:50 Joint Venture with Premier Inn – a

subsidiary of Whitbread PLC, UK’s largest hospitality company. This JV will develop and operate 80 limited services hotels under the brand “Premier Inn” over next 10 years across India with an investment of upto GBP 300 million. Uniquely positioned between a Business and Budget category this initiative will add over 12,000 hotel rooms across India. Affordably priced, this will be an appropriate offering for the business and leisure travelers seeking high quality branded budget hotel accommodation.

UK, all Premier Inn bedrooms are 22m² and feature a king size bed with quality duvet and pillow options; en-suite bathroom with shower and bath; remote control TV/radio alarm; tea/coffee making facilities; and a spacious desk area with internet access. The Indian JV product will be to the same high UK standard but additionally the hotels will include air-conditioning, and a food & beverage offer to meet the specific demands of this Indian hotel market.