Merger of AAPC India Hotel Management and Others into InterGlobe Hotels

SUMMARY OF THE PROPOSED COMBINATION [In terms of Regulations 13(2) of the Competition Commission of India (Combinations) Regulations, 2024]

A. Name of the parties to the combination

1. The names of the parties to the proposed transaction are:

(a) Interglobe Enterprises Private Limited (IGE) (b) InterGlobe Hotels Private Limited (IGH) (c) AAPC India Hotel Management Private Limited (AAPC India) (d) Caddie Hotels Private Limited (Caddie) (e) Triguna Hospitality Ventures (India) Private Limited (Triguna) (f) Srilanand Mansions Private Limited (SMPL) (g) Techpark Hotels Private Limited (Techpark) (h) Accent Hotels Private Limited (Accent) (i) AAPC Singapore Pte. Ltd. (AAPC Singapore)

B. Nature and purpose of the combination

2. The proposed transaction entails the merger of AAPC India, Caddie, Triguna, SMPL, Techpark and Accent with and into IGH and related transactions (Proposed Transaction). The Proposed Transaction is in the nature of a merger and acquisition and falls under Sections 5(a)(i)(A), 5(c)(i)(A) and 5(d) of the Competition Act, 2002 (as amended).

C. Products, services and business(es) of the parties to the combination

IGE

3. It is an investment holding company.

IGH

4. IGH is engaged in: (a) owning and developing Accor-branded hotels; (b) leasing an office building and commercial space; and (c) consultancy and support services (on a captive basis), in India.

AAPC India

5. AAPC India is engaged in: (a) managing Accor-branded hotels; (b) franchising Accor-branded hotels; and (c) providing consultancy services for Accor-branded hotels.

Caddie

6. It is primarily engaged in owning and developing Accor-branded hotels.

Triguna

7. It is an investment holding company.

SMPL, Techpark and Accent

8. They are wholly-owned subsidiaries of Triguna and are engaged in owning and developing Accor-branded hotels.

AAPC Singapore

9. It is engaged in management consultancy services for hotels outside India.

D. Respective markets in which the parties to the combination operate

10. The exact delineation of the relevant market may be left open as the Proposed Transaction does not give rise to any competition law concerns irrespective of the manner in which the markets are defined. However, to aid the Hon’ble Competition Commission of India in its assessment of the Proposed Transaction, the relevant markets may be defined as:

(a) Broad market for provision of hotel accommodation services in India; and (b) Narrow market for provision of 4-star hotel accommodation services in India.