InterContinental Hotels Group (IHG), acknowledged as the world’s largest hotel operator by number of rooms, is planning to add a new upper mid-scale hotel brand in China, one of its most promising emerging markets, by year-end.
IHG chief executive Andrew Cosslett announced that the brand, which remains unnamed, will be positioned between the company's current upscale Crowne Plaza and its luxury InterContinental.
The group plans to more than double the size of its operations in the key burgeoning markets of China, India and the Middle East over the next few years (see news), capitalising on ever increasing traveller numbers and global economic trends, boosted by increased life expectancy, popularity of low-cost carriers and internet access.
IHG expects China will overtake the US as the world's largest hotel market by 2025, becoming twice the size of the current US market by 2039.
Cosslett added the company, which largely operates a franchise model in partnership with hotel owners rather than owning them directly, will also look to introduce a new mid-scale hotel brand in the US, where it currently makes about two thirds of its profit.
For more about IHG, visit www.ihg.com
Margie T Logarta
