June 25, 2008 // Franchising.com // IHG today announces it has signed an agreement to open two new hotels in Istanbul - including Turkey's first Holiday Inn Express.
The agreement, with Turkish real estate investment company ORA Istanbul Real Estate Investment and Development Co. ("ORA"), will bring the total number of IHG hotels in the country to 11* - seven of which are in Istanbul.
IHG signed a 20-year management contract with ORA to develop a 281-room Crowne Plaza and a 146-room Express by Holiday Inn in Istanbul's Bayrampasa district. Both hotels are due to open in the first quarter of 2010.
The announcement comes the same week IHG opened its 263-room Crowne Plaza Ankara.
The Crowne Plaza Istanbul Bayrampasa and the Holiday Inn Express Istanbul Bayrampasa are being developed as part of ORA Istanbul Urban Entertainment Center, an entertainment, retail and exhibition complex located between the city centre and the airport.
"Turkey is among the fastest growing tourism markets in the world, particularly Istanbul, its largest city. The opening of these two hotels in Istanbul, as part of such a key development for the city, will make these properties a strong addition to the IHG portfolio - it's great to see the first Holiday Inn Express coming to Turkey. We are delighted to be working with ORA which brings great local knowledge to the development," said IHG Chief Operations Officer Europe Division Robin Wicks.
"We are delighted to be working with IHG on this project and have no doubt the combination of high service standards, strong location and comprehensive range of facilities will ensure the hotels greatly appeal to the discerning traveller," said ORA Executive Board Member, Mr Ahmet UluÄŸ.
* Of the 11 hotels in Turkey IHG has:
As well as the seven Istanbul hotels, IHG has hotels open or in development in Ankara, Antalya, Bursa and Izmir.
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is one of the world's largest hotel groups by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, almost 4,000 hotels and more than 590,000 guest rooms in nearly 100 countries and territories around the world. The Group owns a portfolio of well recognised and respected hotel brands including InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites® and Hotel Indigo®, and also manages the world's largest hotel loyalty programme, Priority Club® Rewards with over 37 million members worldwide.
IHG pioneered the travel industry's first collaborative response to environmental issues as founder of the International Hotels and Environment Initiative (IHEI). The environment and local communities remain at the heart of IHG's global corporate responsibility focus. IHG is the first major hotel group to have measured the environmental and carbon footprints of hotels that operate under our brands globally and is in the process of setting reduction targets.
With more than 1,600 hotels in its development pipeline, IHG needs to recruit around 150,000 people over the next few years to meet its global expansion plans.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales.
IHG offers information and online reservations for all its hotel brands at www.ihg.com and information for the Priority Club Rewards programme at www.priorityclub.com. For the latest news from IHG, visit our online Press Office at www.ihg.com/media