Fairmont Mumbai, Accor group‘s luxury hotel chain, which was launched this week in the metropolis, is looking to break even within 5-7 years, general manager Rajiv Kapoor said in a conversation with FE. The Mumbai property, located in the suburb of Andheri, is the second for Accor’s Fairmont brand in India after the Fairmont Jaipur, which was launched in 2012.
Set up with an investment of Rs 1,000 crore in partnership with Mumbai-based developer Shrem Airport Hotels, the Fairmont Mumbai, which is a 446-room property, is also the first luxury hotel in ten years for the city, experts said.
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Kapoor says the Mumbai property will target a mix of business and leisure travellers owing to its proximity to the international and domestic airports. “The idea is to target the corporate customer during the week, who is looking at a two or three-day travelling schedule and wants a luxury property near the airport. Further, we want to get footfalls via global conferences, events and exhibitions. We would also be targeting the leisure segment on weekends,” Kapoor said.
Accor has plans to roll out a few more Fairmont properties in India. This includes a hotel in Udaipur later this year, followed by properties in Agra, Shimla and Goa in the future.
The French hospitality major operates 71 hotels in India and has 40 more in the pipeline across multiple brands. Some of Accor’s popular brands in India include Sofitel, Novotel, Mercure, Grand Mercure, ibis and ibis Styles, among others.
On Wednesday, Accor along with long-time partner InterGlobe Enterprises, which owns India’s largest airline IndiGo, had announced that they are expanding their partnership in the country. This would entail Accor consolidating its India operations and InterGlobe transferring its hospitality assets into a new integrated entity. This entity would have the target of operating 300 hotels under Accor brands by 2030.
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The enhanced partnership will also see Accor and InterGlobe investing in budget hotel chain Treebo thereby becoming its largest shareholders. Treebo will sign 10 new Mercure branded-hotels with various property owners under this deal. The combined portfolio will have 30,000 rooms,
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