InterContinental Hotels Group Reports the Largest Hotel Development Pipeline in the Industry
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InterContinental Hotels Group Reports the Largest Hotel Development Pipeline in the Industry
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2006-03-09
In 2005, the IHG Americas development team reports a record-setting year for franchise sales and contributed close to 70 percent of the global pipeline.
ATLANTA (March 8, 2006) – As reported in the IHG Plc. full year results (to December 31, 2005) stock exchange announcement issued on March 2nd, InterContinental Hotels Group, (IHG) [LON: IHG, NYSE: IHG (ADRs)], the world's largest hotel group by number of rooms, reported the largest global pipeline in the industry. With 108,500 rooms (over 880 hotels) in its global pipeline, IHG is optimistic it will achieve its target of 50,000 to 60,000 net room additions by the end of 2008.
“It is impressive when you consider that our global development pipeline represents roughly the same number of hotels that some of our competitors operate,” said Steve Porter, president, the Americas, IHG. “In 2005, IHG signed 70,000 rooms worldwide – a jump of 57% over 2004. And of these, 50,000 were signed in the Americas region under the leadership of our SVP and Chief Development Officer Kirk Kinsell.”
IHG’s portfolio is comprised of some of the strongest and most recognized brands in the world: InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Hotel Indigo, Holiday Inn Hotels and Resorts, Holiday Inn Express, Staybridge Suites and Candlewood Suites. The strength of IHG’s brands and their performance continue to attract franchisees and developers to the company’s offerings. In 2005, the Americas development team set a new record for franchise growth and launched a proprietary, customizable management product designed to help drive revenues for IHG-branded hotels. IHG’s The Hotel Management Group unveiled its new offering The Performance Advantage™ to the Americas on March 6, 2006.
The Hotel Management Group has a proven track record as one of the largest hotel managers in the world and the largest manager of IHG brands with annual revenues in excess of $2 billion. The Hotel Management Group portfolio consists of more than 220 hotels in the Americas and takes pride in its ability to provide solutions for any IHG branded-hotel in any place.
IHG’s Americas regions showed continued development momentum across all seven hotel brands (December 2005):
InterContinental Hotels & Resorts
With IHG’s increased emphasis on the development of its upscale brands, InterContinental Hotels & Resorts has seven hotels in the Americas pipeline to complement its existing 45 upper-upscale segment hotels in the region. InterContinental Hotels & Resorts properties scheduled to open in the Americas during 2006 include: InterContinental Kansas City at the Plaza, Missouri; InterContinental Harbor Court Baltimore, Maryland; InterContinental Playa Bonita Resort & Spa, Panama and InterContinental Boston, Massachusetts. The brand has an additional 20 hotels in the global pipeline to complement its total portfolio of 137 hotels worldwide.
InterContinental Hotels & Resorts, the brand with international understanding, continues its global expansion with plans to open eight hotels worldwide in 2006, including two in China; Chongqing and Shenzhen. In February 2006, IHG announced it will be building the world’s tallest hotel the InterContinental Nanjing, China projected to open in 2009.
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