The InterContinental Hotel Group Plc (IHG) marketed as IHG Hotels and Resorts headquartered in Denham, Buckinghamshire, England is a multinational hospitality company, which is planning to add four upscale luxury hospitality brands to India soon, adding to its hotel portfolio. Their current portfolio has exquisite names such as InterContinental, Crowne Plaza, Holiday Inn, and Holiday Inn Express.
The four brands that IHG wants to introduce include Regent, Kimpton, Vignette Collections, and Voco to the Indian market, said Sudeep Jain, managing director, southwest Asia at InterContinental Hotels Group.
Already, the group has struck agreements for two of its other global brands. Hotel Indigo, which competes with Crowne Plaza in the same market, has opened a unit in Mumbai. They have also signed up for Staybridge Suites in Bengaluru, said Jain. IHG established the Six Senses Spa in Ranthambore (Rajasthan) earlier this month, marking the company’s first ultra-luxury, boutique offering in the nation.
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To their existing 40 hotels in India, IHG is planning to add 39 more over the next three to four years. Other parts of South Asia will witness the launch of another 15 hotels.
It is estimated that the Holiday Inn and Holiday Inn Express brands will account for the majority of IHG’s expansion in India. “In terms of sheer volume, the growth will come from those two brands. In the Indian context, Holiday Inn is the focus and growth area as it is the right product built at the right cost and flexible enough to cater to every market with great returns,” Jain said.
As the pandemic recedes, numbers of occupants in hotels start rising again. The occupancy stands at about 95% of the pre-pandemic times but the ADR (average daily rates) which shows the overall performance of the hotels remain 40% low.
