As per Mint, an Indian business news portal, Paris-based hospitality giant, Accor might pour in about $ 50 million in India’s Treebo Hotels, a budget hospitality firm. Accor might pick up a minority shareholding in Treebo and it is believed that the talks are in their final stages.
As per the report, if the deal comes through, Accor may acquire a majority stake in Treebo in future.
Treebo Hotels is the brainchild of Indian Institute of Technology-Roorkee alumni Rahul Chaudhary, Sidharth Gupta and Kadam Jeet Jain. Ward Ferry Management, Karst Peak Capital and Bertelsmann India Investments are some of the investors in Treebo Hotels.
In 2018, Treebo Hotels unveiled three sub-brands based on pricing namely- Tryst (high end) followed by Trend (midrange) and Trip (least costly) as its assortment of offerings.
It is being speculated that Accor’s investment is intended to ‘scale up’ Treebo Hotels’ network.