Emmar MGF forms JV with French group Accor

Emmar MGF Land Pvt Ltd on Monday announced forming a joint venture with French hospitality group Accor to build 100 hotels in the country over the next ten years.

By PTI | Nov 27, 2006, 02.10 PM IST

NEW DELHI: Emmar MGF Land Pvt Ltd on Monday announced forming a joint venture with French hospitality group Accor to build 100 hotels in the country over the next ten years.

The joint venture, Budget Hotels India Pvt Ltd, plans to invest $300 million for the purpose, Emmar MGF Managing Director Shravan Gupta told reporters here.

The JV would construct 100 hotels with a total of 10,000 rooms, he said.

Emaar MF is itself a 50-50 joint venture between Dubai-based real estate giant Emmar and India's MGF group.

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