IHG Opens 200th Hotel in Greater China
Tuesday May 28th, 2013 - 9:53AM P
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SHANGHAI, CHINA—With the opening of the InterContinental Shanghai Ruijin, IHG (InterContinental Hotels Group) celebrated the unveiling of its 200th hotel in Greater China.
IHG is one of the largest international hotel management groups in China with 200 hotels opened and another 170 in development. IHG’s footprint has expanded to more than 70 cities.
“The opening of our 200th hotel here is testament to how much our brands are loved by owners and guests alike,” Richard Solomons, chief executive of IHG, said in a statement. “Our deep understanding of the underlying needs of local consumers is a strategy which is working and we are extremely positive of our future in China and excited about the opportunity ahead.”
According to the forecasts by the World Tourism Organization, the Chinese hotel room market will overtake that of the United States, which is currently the largest in the world, by 2025. By 2039, China’s hotel room market will be twice the size of the US market.
Over the next 20 years, IHG plans to increase by almost eightfold the number of hotel rooms it has in Greater China, which equates to about 360,000 rooms and an additional 300,000 new jobs.
Tags: • Hospitality • Openings •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.