Accor to invest close to $50million in Oyo’s rival Treebo Hotels

This investment could get the hotel group a significant stake in India's budget hotels — Treebo

Accor hotels, Hospitality industry, Treebo Hotels, India, Budget hotels, Oyo

Hospitality group Accor Hotels is reportedly in talks to invest up to $50million in India’s Treebo Hotels.

Two sources close to the development told Indian business website Mint about the deal. According to the source, the French-hospitality group has “put a term sheet” for an investment of around $50 million. This could get the hotel group a significant stake in Treebo.

When Hotelier Middle East got in touch with Accor’s team in India, they refused to comment on the matter.

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Treebo that was founded by Sidharth Gupta, Rahul Chaudhary, and Kadam Jeet Jain in 2015, is Oyo hotels’ rival. A few months ago, there talks about Oyo investing in Treebo, however nothing concrete materialised from that.

A few months ago, Accor announced that its brand Raffles Hotels and Resorts will make its entry into the Indian market with two properties in Udaipur and Jaipur.

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