Brief look at acquisitions, how, where and why chosen? What dictated the choice of hotels and locations?
InterGlobe acquired 13 hotel properties across a number of cities in Europe (such as London, Paris , Barcelona, Vienna, Hamburg, Gstaad, Amsterdam, Munich, Prague and Budapest) including one hotel in Melbourne starting in 2018 as its external diversification strategy with a mix of properties under third party brands and independent brands with a view to convert majority of the properties in iconic locations under a new brand from scratch and subsequently grow it with newer properties and markets.
InterGlobe’s expansion in hospitality outside of India has been deep with transformational refurbishments to create new benchmark in their category of hotels.
Location and iconic buildings has been fundamental in its acquisition strategy.
Our new brand Miiro is the first hospitality brand by InterGlobe to be launched in Europe in the lifestyle hospitality segment in a few weeks. There’s a reason for the ongoing growth and expansion of the lifestyle hospitality segment, as guests continue to seek out diversity of experiences. We firmly believe there is room for hotels with personality and unique character. Importantly, this is not only to be expressed in the design of the product but also in the sensibility and character of our people and our culture.
From Saint-Germain- des-Près in Paris to the cosmopolitan area of El Born in Barcelona, each Miiro hotel will be fully integrated within its community, allowing guests to connect with local residents and businesses for a deeper understanding of the culture.
We also love that the Miiro hotels have their own rich history and stories to tell. For example, a plaque in memory of the author and political activist, Annette Kolb, who had called the building her home from 1944 to 1961, can be found at our hotel in Paris, Miiro Le Grand Hotel Cayre. Today, Annette Kolb is the inspiration behind our hotel’s restaurant, Annette.
Additionally, the Mansard in Gstaad is an independently branded lifestyle hotel developed as a green field project. The Mansard has already opened its doors in May this year, as a year-round destination in the Bernese Oberland mountains featuring 29 rooms and suites, alongside an all day dining restaurant and a roof top bar.
Miiro philosophy
Now coming to our new brand Miiro, each of our Miiro hotels are meant to possess its own distinct character, but they will share a common commitment to delivering ‘Brilliantly Considered Stays’ that encourage guests to pause, reflect and savour every moment in top locations such as Paris, Barcelona, London and Vienna. Rather than being just another bustling city centre hotel, we encourage our guests to slow down and recharge, all while bringing them closer to the charming neighbourhoods that surround the hotels. We will be doing this in a truly authentic way that combines thoughtful partnerships and programming that supports local businesses and encourages community engagement. The design of each property is influenced by its surrounding neighborhood, community, and the local architectural style backed by deep research. We based our design direction around a set of key design principles (Considered, Curated and Crafted), and collaborated with respected and renowned designers in the luxury lifestyle space to bring the vision to life.
In the beautiful historical district of Saint Gemain, Paris known for its architechtural charm and its artists and intellectuals, Le Grand Hôtel Cayré in Saint Germain, Paris will feature 123 rooms and suites, alongside a Classic French brasserie and a sophisticated bar.
Ideally located in the most imaginative and creative neighborhood of El Born in Barcelona, our gorgeus hotel Borneta will offer 92 rooms, an flavorful mediterranean restaurant with an open-plan kitchen and inviting outdoor seating under the arches, an ambitious cocktail bar, and a rooftop terrace with breathtaking vistas of Ciutadella Park and downtown Barcelona.
Our hotel Templeton Garden in London, will offer 156 rooms, complemented by a cafe-deli, a neighborhood restaurant, a vibrant bar, and an outdoor F&B experience in an expansive garden oasis.
Roll out of the refurbished properties
We are excited to launch the first Miiro hotels this summer in Europe (which is a few weeks away), starting with Le Grand Hotel Cayré in Paris in July, 2024 and closely followed by Borneta in Barcelona, which will open its doors in August, 2024. We will also be opening hotels in London and Vienna in 2025, and few other opportunities are in the pipeline . The openings of hotel properties under a new brand in four locations in less than two years is unprecedented in the industry and shows our commitment to the brand. It’s gruesome work but is very satisfying for me personally and for our teams behind it.
Future acquisitions for Miiro in Europe
My number one priority is to successfully launch the current pipeline and establish the Miiro brand across Europe, however we will continue to monitor the market for new opportunities that are well-aligned with the Miiro philosophy.
A brief on your personal journey (Neena’s)
As the CEO of Miiro, I personally carry the responsibility of spearheading the launch our hotel properties under our brand, Miiro in the key feeder markets, with a specific emphasis on Europe. I have been at InterGlobe since 2008 in various positions marking almost 16 years with the Company. I am currently the Executive Director of Group Strategy and International Hospitality along side my role as Miiro CEO. I have been involved in numerous strategic initiatives across the interGlobe portfolio of businesses, spanning aviation, hospitality and travel services. This has included acquisitions, divestments and managing joint ventures as well as the strategic development for new businesses. These experiences have deepened my professional trajectory and given me invaluable insights for developing the hospitality venture in Europe . Prior to joining InterGlobe, I worked as an attorney for over nine years, at national law firms of JSA and AZB & Partners. My time as a corporate lawyer developed a deep emotional intelligence which I have carried through with me in my current role.
Our team at Miiro is hand-picked and comprises of seasoned professionals with diverse backgrounds and extensive experience in the hospitality industry from well established international brands including The Firmdale , The Doyle Collection, The Standard and IHG. I firmly believe that our fabulous team, both at brand level and at each hotel will ultimately be the making of Miiro.
Plans for India
InterGlobe has a large focus in travel and hospitality within the domestic market of India. Miiro is a separate venture as a externalisation strategy with key focus in the gateway cities of Europe for the moment. The successful launches of our upcoming Miiro properties in Paris, Barcelona, London and our few other locations in pipeline in Europe is our main focus at this time. We are committed to growing the Miiro brand and are excited to build on that trajectory in the newer markets in the coming years.
