French hotel chain Accor has launched its budget brand Hotel Formule1 at Hinjewadi near Pune. The 104-room property is the fourth such hotel in India, after Ahmedabad, Bangalore and Greater Noida.
The new hotel, which is located close to the Balewadi sports complex and Sahara Cricket Stadium, aims to cater to corporate clients, students and sports groups in the area.
Philip Logan, Vice-President, Hotel Formule1, India, said that Pune is a key focus market for the company and has great potential for the “‘Rest Assured’ with best value” brand.
The company plans to add three more Formule 1 hotels at Gurgaon, Pune Pimpri and Hyderabad in 2014.