According to travelpulse.com, India Hospitality Corp (IHC) has entered into an agreement with Firstcorp Invesco to acquire the 'You' brand from Firstcorp for a USD 400000 cash consideration.
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IHC intends to rapidly expand this newly acquired brand throughout its vertically integrated Indian businesses, particularly in its lodging segment. 'You' is a contemporary hospitality brand characterised by technology, youth and consumer understanding. It propagates the 'Living' concept, which is positioned around a central theme of a lifestyle enabled by hospitality, contemporary living and communities, fashion retail, F&B, wellness and business centres.
Jason Ader, Chairman, IHC, says, “This brand is designed to accelerate the development pace of our lodging business, which we continue to believe presents a very attractive return on investment opportunity in India.