The big potential for Shanghai's budget hotel market has attracted French hotel giant Accor.

The company announced on April 20 that it will soon launch its affiliate budget hotel brand Ibis in Shanghai.

Ibis Shanghai will be operated through the cooperation with local real estate developer Shanghai LianYang Group Company. Ibis will be responsible for the management of the hotel. The exact date for the opening has not yet been confirmed.

Ibis has just opened a hotel in Chongqing and is planning for a second one there. Local media report estimates that Accor will have more than 50 hotels in Sichuan in the next few years.

At present, Accor is managing 33 hotels in China.