Fairmont Mumbai eyes breakeven in 5-7 years

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.

ALSO READSamvardhana Motherson announces measures to optimise €50 million cost amid global headwinds

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.

Realtors see FY26 as rock solid after FY25 high

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,

 » Read More

Related Articles

Big relief for taxpayers! Income Tax Dept extends timeline for ITR processing, refunds in THESE cases

In a significant relief for taxpayers who had filed income tax returns (ITRs) late but with proper condonation from the Income Tax Department, the Central Board of Direct Taxes (CBDT) has allowed processing of such returns and issuance of refunds by March 31, 2026. The tax department’s move is aimed at addressing cases where valid

Retail boost: Amazon India bets on tier-2 cities with new fulfillment centres 

Amazon India is gearing up for a higher penetration in the interior of India as it opens new fulfillment centres in the tier-2 cities. On Thursday, the company said that it has launched 5 new fulfillment centres in India, with 4 located in tier-2 cities, Indore, Bhubaneshwar, Kochi, and Rajpura (Punjab). While the global e-commerce

Motilal Oswal recommends ‘Buy’ on Coforge: 3 reasons powering the bullish call

Motilal Oswal has a ‘Buy’ rating on Coforge, with a target price of Rs 2,200, implying an upside of 18%. The brokerage expects that the company has a strong executable order book and resilient client spending across verticals that bodes well for its organic business. Motilal Oswal on Coforge: Management confident of organic growth Coforge’s

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Big relief for taxpayers! Income Tax Dept extends timeline for ITR processing, refunds in THESE cases

In a significant relief for taxpayers who had filed income tax returns (ITRs) late but with proper condonation from the Income Tax Department, the Central Board of Direct Taxes (CBDT) has allowed processing of such returns and issuance of refunds by March 31, 2026. The tax department’s move is aimed at addressing cases where valid

Retail boost: Amazon India bets on tier-2 cities with new fulfillment centres 

Amazon India is gearing up for a higher penetration in the interior of India as it opens new fulfillment centres in the tier-2 cities. On Thursday, the company said that it has launched 5 new fulfillment centres in India, with 4 located in tier-2 cities, Indore, Bhubaneshwar, Kochi, and Rajpura (Punjab). While the global e-commerce

Motilal Oswal recommends ‘Buy’ on Coforge: 3 reasons powering the bullish call

Motilal Oswal has a ‘Buy’ rating on Coforge, with a target price of Rs 2,200, implying an upside of 18%. The brokerage expects that the company has a strong executable order book and resilient client spending across verticals that bodes well for its organic business. Motilal Oswal on Coforge: Management confident of organic growth Coforge’s

Can you legally claim both HRA and home loan interest deduction in ITR? Here’s what income tax rules say

ITR Filing AY 2025-26: One common question most taxpayers grapple with every year when they file their income tax return (ITR) is if they can claim both House Rent Allowance (HRA) and home loan interest deduction benefits. So, the answer is ‘yes’, it is legally possible since many taxpayers live on rent and also pay

Adani Total Gas partners Jio-BP: Can it boost retail fuel sales?

In a major development in India’s private retail energy sector, Adani Total and Jio BP have partnered to integrate each other’s energy products at their retail outlets. According to an Adani Total Gas statement, while Adani Total Gas outlets will offer Jio BP’s petrol and diesel at their outlets, Jio BP will integrate Adani Total