IHG to double presence in Greater China
Company will have more than 250 hotels in region in next five years
InterContinental Hotels Group (IHG) has confirmed plans to double its presence in Greater China to more than 250 hotels over the next five years.
InterContinental Hotels Group CEO, Andy Cosslett, said: “We will create a further 87,000 jobs across China over the next five years as we open the hotels in our pipeline.”
The plans follow the recent opening of two InterContinental hotels in Nanjing and Shanghai and the signing of a deal with HNA hotels and Resorts last month for five hotels.
"This year we are opening over 30 hotels in Greater China. This includes seven InterContinental, seven Crowne Plaza and the debut of Hotel Indigo in an outstanding location on the Bund in the centre of Shanghai, following our strategy to develop an upscale presence in key locations,” added Cosslett.
And business in Greater China has grown, with IHG reporting RevPAR growth of 22.2% and 27.1% in April, at its first quarter trading update in May.
Recent guidelines issued by China’s State Council confirmed the Chinese Government has established tourism as a key economic pillar, with a total of 25 national and regional development plans in place with tourism as a strategic focus.
The government is also investing US $120 billion in its railway network, laying over 85,000 kilometres of freeway and is constructing 97 new airports to upgrade the transport infrastructure across the country.