IHG CEO Calls Past Year's Results in China "Fantastic"

IHG CEO Calls Past Year's Results in China "Fantastic"

IHG CEO Calls Past Year's Results in China

Despite the White House's ongoing trade war with China, IHG's CEO says the brand is doing just fine in the world's largest market. In fact, he said IHG has seen "fantastic results" in China, with record signings and openings in the past year, adding 100 hotels and notching record levels of business. IHG, he said, is approaching 400 hotels in the country.

In an interview with CNBC at the World Economic Forum in Davos, Switzerland, IHG CEO Keith Barr said that the much-reported slowdown in the Chinese economy's rate of growth was expected. Even with its slowest growth rate in about 30 years, the country's GDP grew 6.6% over 2017, according to official government figures.

One big shift over the past 10 to 20 years in hotel guests in China, said Barr, has been the country's increasing domestic middle class replacing the international inbound travelers of past decades - a growing middle class in the world's most populous country.

Barr said he anticipates intervention by the Chinese government to help drive the overall growth of the economy, but that the ongoing growth of the middle class should result in continued strong momentum for the hotel and leisure sector in China.

In addition to China, said Barr, IHG is focusing its international expansion plans on Southern Asia, Mexico, and Germany.

Published: February 27th, 2019

Share this Feature

MassageLuXe
SPONSORED CONTENT
MassageLuXe
SPONSORED CONTENT
MassageLuXe
SPONSORED CONTENT

Recommended Reading:

Jersey Mike's Subs
ADVERTISE SPONSORED CONTENT

FRANCHISE TOPICS

Tint World
ADVERTISE SPONSORED CONTENT
Multi-Unit Franchising Conference
Conferences
Caesar's Forum, Las Vegas
MAR 24-27TH, 2026

Featured Opportunities

Lightspeed Restoration
Lightspeed Restoration is a 24/7 rapid response restoration franchise. When homes or businesses are impacted by water or fire, Lightspeed Restoration...
Ziebart
Founded in 1959, Ziebart provides premium automotive appearance and protection services to extend the life of vehicles. Recently ranked #1 in its...
Subway
Subway has new and existing franchise opportunities available for experienced multi-unit franchisees. Build your portfolio with a globally recognized...
Class 101
Class 101 college planning franchise helps high school students get into better colleges and qualify for higher amounts of scholarships and financial...
Dogtopia
With close to 300 locations operating and 350 more sold and in development, Dogtopia is the largest and fastest-growing pet services provider in the...

Share This Page

Subscribe to our Newsletters