October 17, 2008 // Franchising.com // Hong Kong SAR, - Extending its leadership position in China, IHG (InterContinental Hotels Group) signed a deal with Shimao Group, to open six new hotels under three brands in four cities by 2013.
This partnership sees the world's largest hotel group by number of rooms and one of China's leading real estate developers add a total of 2,100 guest rooms to IHG's Greater China pipeline which is already the largest in China. The hotels will carry the InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels & Resorts brands.
"We are delighted to work with such a respected partner," said Andy Cosslett, chief executive, IHG PLC. "The agreement demonstrates Shimao's confidence in our brands and the infrastructure we have built in China since 1984. One third of all our new signings are with hotel owners who are already working with us."
The two companies already have a previous agreement for IHG to manage a Holiday Inn in China for the Shimao Group and follow other multi-hotel arrangements including a six-hotel deal with the Chengdu International Exhibition & Convention Group, and a four-hotel deal with Shanghai Greenland Group, both signed in 2006.
Entering Mainland China's property market 20 years ago, Shimao Group has committed itself to the development of large scale, high quality, and integrated real estate projects at prime locations or in regions with dynamic economic growth potentials. Shimao Group has gained a market-leading position in China with landmark achievements in the fields of real estate, commerce, as well as hotels.
"This is the biggest multi-brand, multi-property partnership we have signed with a single hotel management company. We could not have found a better partner than IHG to help us to ensure the success of these exciting new projects. With their international management experience, diverse brand portfolio, market-leading position, and commitment to developing the hospitality industry in China, we move forward together with every confidence that all of these hotels will have a bright future and lay the foundations for further co-operation with IHG," commented Hui Wing Mau, chairman of Shimao Group.
As the first international hotel company to enter China in 1984, IHG has won the trust of local partners through its successful operations. Continuing it's fastest ever pace of growth, IHG has signed approximately half of all hotel development projects in China over the last few years. IHG will have opened more than 100 hotels in 2008 with an additional 100 hotels under development.
The six new hotels with Shimao will operate under three of IHG's brands:
Notes to Editors:
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, over 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 39 million members worldwide.
IHG has more than 1,700 hotels in its development pipeline, which will create 150,000 jobs worldwide over the next few years.
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 http://www.ihg.com/ and information for the Priority Club Rewards programme at http://www.priorityclub.com/. For the latest news from IHG, visit our online Press Office at www.ihg.com/media
Shimao Group is a leading developer of high quality real estate projects in China, with a broad-ranging portfolio of residential, commercial and hotel properties in prime locations. Shimao Group possesses a strong brand name in China. Currently, the Group has more than 30 projects at different stages of development in over 20 cities namely Shanghai, Beijing, Harbin, Wuhan, Nanjing, Fuzhou, Kunshan, Changshu, Shaoxing, Wuhu, Yantai, Jiaxing, Changzhou, Shenyang, Suzhou, Xuzhou, Hangzhou, Xianyang, Taizhou, Mudanjiang, Dalian and Ningbo. The Group's highly-acclaimed projects have been well received by property buyers and investors both within the PRC and internationally. The SHIMAO brand has been recognized as a "China Super Brand" in 2004 and rated no. 1 on the "Top 10 List of the Integrated Strength of Foreign-invested Real Estate Developers" in both 2007 and 2008.