Accor, has recently signed a management agreement with Brigade Enterprises for the management and operation of a serviced residences project in Bangalore, to be called Mercure Homestead Residences.

Mercure Homestead Residences is located in the upmarket Koramangala area of Bangalore, India’s IT hub and nicknamed India’s “Silicon Valley”. The complex will feature 129 studio, one bedroom and two-bedroom apartments, an all-day dining restaurant, health club, swimming pool and spa. The apartments display an innovative and edgy interior design style. Targeted to open by end 2008, this serviced residence will cater to the business traveler market, particularly people from the IT and biotechnology industries.

M. R. Jaishankar, Chairman of Brigade Enterprises, said “we are delighted to be working with Accor, the world leader in the economy segment of the hospitality business. The Mercure Homestead Residences will set a new standard amongst mid-scale serviced apartments in India and will be a most valuable addition to Bangalore’s hospitality supply. The serviced apartments segment of Bangalore’s hospitality market is perhaps the strongest performing segment of all.”

Michael Issenberg, Chairman and Chief Operating Officer of Accor Asia Pacific said “India is poised for bumper growth in tourism over the next few years. For Accor, this is a tremendous beginning for the Mercure brand in India. We believe Mercure, a mid- scale brand has a great future in India and we do expect that we will reach a number of other agreements this year to develop Mercure hotels and are actively seeking business opportunities throughout India to further expand our network”.

Accor already operates a Novotel in Hyderabad adjacent to the Hyderabad International Convention Centre which is also managed by Accor and has recently being awarded the National Tourism Award for the best convention venue in India. The Novotel Hyderabad, opened in November 2006, is already one of the most successful hotels in the city.

With the latest addition of the Mercure Homestead Residences, Accor now has 4 properties in India – two are slated to open by end 2008: Ibis Gurgaon in New Delhi (open by end 2008) and the Novotel Hyderabad Airport (open by end 2008).