IHG Targets India for Expansion
Tuesday February 19th, 2013 - 7:59AM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
DELHI, INDIA—IHG has signed 13 new hotel deals in India, boosting its existing pipeline in the country to 47.
IHG currently has 13 hotels in 10 cities across India, including Delhi, Bangalore and Mumbai. IHG first entered the Indian market in 1962, when it opened an InterContinental Hotel in Delhi. The current wave of expansion will take the company to such emerging business and leisure destinations as Chennai, Ahmedabad, Pune and Goa.
Domestic demand in India is driving growth for IHG's mid-market Holiday Inn and Holiday Inn Express brands. A majority of the 13 new hotels, in fact, are scheduled to be mid-market.
Tags: Hospitality Ownership
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.