New Delhi, March 21 -- InterGlobe Hotels Pvt Ltd is focusing on India's tier I cities for its Ibis brand as it looks to shed the budget tag and positions itself in the mid-market segment, citing strong demand for quality hotels.

The joint venture between InterGlobe Enterprises and Accor Asia Pacific, which has 29 Ibis properties in India, is evaluating opportunities in top locations in city centres for the next phase of growth, according to JB Singh, president and chief executive officer at InterGlobe Hotels.

"There is a huge opportunity in India to build more branded hotels. Classified hotels are severely under-penetrated," he said. "Travel and tourism will also grow at a multiple of 1.5 to 2x. As a result, the industry has an assured ...