Accor operates in India through two principal joint venture partners.

The first is Interglobe, with which it is developing the Ibis chain of hotels and three hotels that are a part of Aerocity - the hospitality precinct at Delhi International Airport.

The other partner is Emaar MGF, which will help it develop the Formule 1 brand of budget hotels.

In addition to the principal partners, Accor has smaller tie-ups for specific properties.

'We operate in India through various management agreements and joint ventures,' said Dave.

The investment of $130 million will be split up between managed properties and joint venture entities.