Published on : Wednesday, September 11, 2019
Sudeep Jain, Vice-President, South West Asia, IHG said that for the last couple of years, the core of IHG has been Holiday Inn and Holiday Inn Express and that will remain the same in future too. However, this is not all what we are. The company also has brands such as Crowne Plaza and Intercontinental which are into luxury and upper segment. So, the core is going to remain in the mid-scale but there is a strategic mindset to grow the business in the luxury and upper scale vertical too, he added.
Currently, the UK-headquartered company operates four brands in India: Intercontinental, Crowne Plaza, Holiday Inn and Holiday Inn Express.
Around 36 hotels of IHG are operating in India under different brands. However, the company is planning to double its growth in terms of number of hotels in the next five years.
“We are working to double the number of hotels in a span of 3-5 years. This will comprise all the brands; however, 60-65 per cent would be in Holiday Inn and Holiday Inn Express,” said Jain.
In the beginning of this year, IHG has acquired Six Senses Hotels Resorts Spas for $300 million in cash from Pegasus Capital Advisors. It included acquisition all of Six Senses’ brands and operating companies and does not include any real estate assets.
In 2017, IHG has joined hands with Gurugram-based hotel investment firm SAMHI for a deal to re-brand 14 hotels across 2,000 rooms (operating and under construction) for the Holiday Inn Express brand.