Accor set to invest in Indian budget chain, say reports
French hotel group Accor is reportedly in advanced talks to take a stake in Indian budget hotel chain Treebo.
It could invest up to $40 million in the Bengaluru-based company in a new funding round, which would be its first since 2017.
According to the sources the funding will go toward further expansion.
Under the terms of the deal Accor will have a future option to acquire Treebo.
Treebo has so far raised about $57 million and the investment would raise its value to more than $200 million.
Treebo currently operates more than 500 properties under a franchise model in 90 cities in India.
Its portfolio is split between three budget sub-brands, Trip, Trend, and Tryst, offering different levels of comfort and amenities.
It has also entered the homestay market and hinted at international expansion in the future.
Last year Treebo acquired Bengaluru start-up Events High which offers local events and activities bookings in eight India cities.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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