October 28, 2010 // Franchising.com // New Delhi, India - IHG (InterContinental Hotels Group), the world's largest hotel group by number of rooms, has signed a series of contracts for the management of six new hotels with leading Delhi-based developer, Amrapali Group.
This strategic relationship marks the launch of Holiday Inn Express in India - one of the fastest growing hotel brands in the limited service category, opening on average two hotels a week globally. Guests at Holiday Inn Express can expect a well-designed hotel of international quality and standard, at an excellent price point.
There are now 2,101 Holiday Inn Express hotels opened and 501 hotels under development globally. It also expands the growing network of Holiday Inn hotels and debuts the Holiday Inn Suites in India.
IHG and the Amrapali Group will develop six hotels between the Holiday Inn Express and Holiday Inn brands in the next three to five years, comprising the following hotels:
Jan Smits, Managing Director, IHG Asia Australasia, said, "With strong economic growth, an expanding middle class, demand for the mid-market and limited service segments will grow exponentially in India. Holiday Inn and Holiday Inn Express will address the need for branded, high-quality and value-based hotels in these segments. These six hotels add momentum to our India pipeline, which now stands at 45 hotels. Close to 70 percent of this pipeline is with the Holiday Inn brand,"
IHG currently operates 12 hotels in key Indian cities and is set to triple its presence in India by 2015. Upcoming IHG hotels will be primarily located in India's major metros and key secondary cities, which are well positioned to drive growth and continued investment opportunities including New Delhi, Bangalore, Chennai, Cochin, Kolkata, and Pune among others.
Anil Kumar Sharma, Chairman and Managing Director, Amrapali Group said, "India's need for world-class hotels consistent with rapid economic growth make this an opportune time for us to expand our hospitality portfolio. IHG, with its well-recognised and profitable brands, offers us a strong foundation to deepen our focus in hotel development. We look forward to introducing the fast-growing Holiday Inn Express brand that offers an ideal mix of convenience, comfort and value."
The agreement for four Holiday Inn Express and two Holiday Inn hotels further reinforces IHG's existing relationship with Amrapali Group. IHG now has a total of seven hotels under development with Amrapali Group, including a Crowne Plaza in Udaipur, scheduled for completion by the end of 2014.
Notes to Editors:InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms. IHG franchises, leases, manages or owns, through various subsidiaries, over 4,500 hotels and more than 650,000 guest rooms in 100 countries and territories around the world. The Group owns a portfolio of well recognised and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites® and also manages the world's largest hotel loyalty programme, Priority Club® Rewards with 52 million members worldwide.
IHG has over 1,300 hotels in its development pipeline, which will create 160,000 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 www.ihg.com 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