Accor has opened an Ibis branded hotel targetted at mid-level business travelers in Navi Mumbai.

With 196 rooms, IBIS aims to attract business managers and executives travelling to Navi Mumbai. 

Ibis Navi Mumbai is set up at a capital investment of about Rs 150 crore (around US$22 millin). It aims to break even within next two years with 70 per cent occupancy during peak season (March- June and September- December).

Navi Mumbai is a burgeoning centre with new factories, IT/knowledge parks and office space due to affordable rentals, availability of large space and proximity to factories.

Forecasts from the World Travel and Tourism Council predict overall business travel spending in India will rise by 8.8 per cent a year between 2011 and 2021 – growing from $ 26 billion to $ 72 billion. A large proportion of corporate travellers in India are mid-level executives

Accor already has its Sofitel, Novotel, Mercure and most recently the Pullman brand of hotels in India.