ATLANTA—IHG’s recently introduced midscale brand, Avid Hotels, is now available for franchising in Mexico. The launch in the country closely follows the introduction of the brand in the U.S. and Canada last fall, where the company has already signed 75 franchise agreements.
“On the heels of IHG’s successful introduction of Staybridge Suites and Candlewood Suites in Mexico, launching Avid Hotels reinforces IHG’s leadership position in this market,” said Jorge Apaez, COO, Mexico, Latin America & the Caribbean, IHG. “The company currently has 140 hotels open in Mexico and an additional 31 in the pipeline, and with the launch of Avid Hotels, IHG is further demonstrating its commitment to continued growth in Mexico alongside our franchisees.”
The franchise fee for the brand will be 5% of gross rooms revenue, and all Avid Hotels franchise agreements for Mexico executed before Sept. 30 will be eligible for a two-point franchise fee discount in year one and a one-point franchise fee discount in year two. This incentive can only be earned if the hotel opens by Sept. 30, 2020.