IBIS, Accor Group’s economy hotel brand, launched its hotel in Navi Mumbai's Turbhe on August 6. With 196 rooms, IBIS aims to attract business managers and executives travelling to Navi Mumbai. Accor operates Sofitel, Novotel, Mercure and most recently the Pullman brand of hotels in India.    IBIS Navi Mumbai is set up at a capital investment of about Rs 150 crore. It aims to break even within next two years with 70 per cent occupancy during peak season (i.e. March- June and September- December).    In recent years, Navi Mumbai has seen a spurt of corporates setting up factories, IT/knowledge parks and office space due to affordable rentals, availability of large space and proximity to factories. Forecasts from the World Travel and Tourism Council predict overall business travel spending in India will rise by 8.8 per cent a year between 2011 and 2021 – growing from $ 26 billion to $ 72 billion. A large proportion of corporate travellers in India are mid-level executives    Maverik Mukerji, General Manger, IBIS Navi Mumbai, said that with business travel on a smaller budget on the rise, executives are looking for all the trappings of a luxury hotel but at an affordable price.