Home > Archive > Accor sells 60 per cent stake in 15 Formule 1 projects across India
Archive Latest Updates

Accor sells 60 per cent stake in 15 Formule 1 projects across India

Read Article


French hotel chain Accor, has announced that it has sold a 60 per cent stake in 15 wholly-owned Formule 1 hotel projects in India, to private equity firm, SAMHI. This decision has been taken in line with the Group’s ‘asset-light’ strategy. Following the deal, Accor will maintain a 40 per cent stake in the hotels and will continue to operate them under long-term operating agreements. Accor will retain the rights to own and/or develop further Formule 1 projects in India.

Today, Accor has 15 wholly-owned and leased developments under the Formule 1 brand of hotels in India. Of these, the first two hotels have opened – in Greater Noida and Ahmedabad – with a further hotel opening in Pune Hinjewadi by the end of this year. SAMHI is an Indian hotel investment and development firm focusing on ownership of branded hotels across key cities in the Indian sub-continent, specifically in the ‘value-for-money’ mid-scale and economy segments.


Related posts

August 1-15, 2013

Mayfair to open second luxury property in Puri

Lucaris launches new barware range – The RIMS Collection

EF&H Staff-Mumbai

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Webinar on the Post Covid-19 Classroom and Career Path
Register Now!