IHG, Duet make sweet music with 19 Express hotels in India

INTERCONTINENTAL Hotels Group (IHG) has signed a 20-year joint venture partnership with Duet India Hotels Group, the hotel investment arm of global asset manager Duet Group, to develop and manage 19 new Holiday Inn Express hotels across India by 2016.

IHG Asia Australasia’s CEO, Jan Smits, said: “The Holiday Inn Express brand will address the need for internationally branded and high-quality hotels for domestic travellers.”

IHG will invest through a 24 per cent equity stake, injecting US$30 million to support construction of the 19 hotels over the next five years. The first hotel is expected to launch by mid-2012.

The hotels will add approximately 3,300 rooms to IHG’s current India development pipeline of over 10,000 rooms (46 hotels), and will primarily be located in India’s major metros and key secondary cities, including New Delhi, Mumbai and Bangalore.

“IHG is strongly positioned to build a significant India footprint, with a growing presence in India’s key business and leisure hubs. Overall, we are on track to have a 150-hotel presence by 2020,” said Smits.

Over 75 per cent of IHG’s India pipeline is with the Holiday Inn family of brands.

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