French hospitality company Accor SA is in advanced discussions to acquire a stake in Indian budget hotel chain and hospitality service company Treebo Hotels.
Accor intends to invest up to $50 million to pick up a significant minority stake Treebo Hotels.
Treebo Hotels noted that the investment from Accor will be primarily used to scale up its network.
In 2017, Treebo secured $34 million in an investment round from Hong Kong-based investment firms Ward Ferry Management among others.