IHG HITS 1,000 OPEN HOTELS MILESTONE IN ASIA PACIFIC
“We’re investing in our brands, delivering great returns for our owners, and driving growth across the region” – Rajit Sukumaran, MD EAPAC. |
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IHG HITS 1,000 OPEN HOTELS MILESTONE IN ASIA PACIFIC
“We’re investing in our brands, delivering great returns for our owners, and driving growth across the region” – Rajit Sukumaran, MD EAPAC. |
Category: Asia Pacific - Industry economy
- Hotel opening
This is a press release selected by our editorial committee and published online for free on 2024-03-18
IHG Hotels & Resorts has reached 1,012 open hotels in Asia Pacific (APAC) – a major milestone for the global hospitality company as it accelerates its growth across the region.
IHG has welcomed guests at many outstanding new properties in APAC over the past year, with stand-out openings across many of its brands including Holiday Inn Hotels & Resorts, InterContinental Hotels & Resorts, Regent Hotels & Resorts, Hotel Indigo, Vignette Collection, voco hotels and Crowne Plaza Hotels & Resorts.
With demand for hotel stays expected to increase again this year, and strong projected long-term growth, the future looks bright for travel in the region.
Having exceeded the 1,000 hotels landmark, IHG intends to be the hotel company of choice for guests and owners across its portfolio of properties in established and upcoming destinations.
Rajit Sukumaran, SVP & Managing Director, East Asia & Pacific (EAPAC), IHG Hotels & Resorts, said: “To hit 1,000 open hotels in Asia Pacific – including more than 700 in Greater China – is a fantastic achievement for IHG in one of the most dynamic regions in the world. We’re seizing the great long-term opportunities by investing in our brands, delivering great returns for our owners, and driving growth in our markets."
“We know that people have a fundamental desire to travel and meet in person and, whether it’s for leisure or business, we’re there for them and offer a wonderful selection of hotel brands and experiences for all types of travel."
“We’re achieving this by maintaining our industry-leading position in the Mainstream segment through our much-loved Holiday Inn and Holiday Inn Express brands, which make up more than half of IHG’s existing portfolio and half of its pipeline in APAC."
“We’re also investing in our six Luxury & Lifestyle brands, which account for 22% of our global pipeline, around twice the amount five years ago. We have built up a strong presence in this segment in the region, with 45% of the global Luxury & Lifestyle pipeline in APAC. It is home to about 60% of our InterContinental brand’s global pipeline, as well as iconic award-winning hotels across Six Senses and Regent. There are also many great examples of our Kimpton and Hotel Indigo brands, and it’s great to see Vignette Collection, IHG’s first collection brand, resonating so well with guests and owners alike."
“We recognise the power of conversions and with 36% of our global signings in conversions, we intend to grow our brand portfolio in APAC in this space – including Garner, our new midscale conversion brand, which will soon have three properties in Osaka, Japan, and which has a great future across the region.”
The APAC region is poised to see the most rapid growth in passenger traffic globally over the long term1 and newly relaxed travel arrangements – including visa-waiver agreements between countries, and the creation of new flight routes and new airlines– are boosting demand for hotel stays in APAC.
IHG is ideally placed to grasp this opportunity, thanks to an expanding pipeline of 705 hotels, in 22 countries across 13 brands, supported by its IHG One Rewards loyalty programme, which has grown rapidly to have over 130 million members around the world.
IHG sees people travelling and spending more on experiences and are offering leisure travellers the chance to expand their personal horizons by exploring upcoming destinations including Halong Bay, Nagasaki, Penang, Lifou, Hubei and Taichung where they may choose to celebrate a special occasion or enjoy a relaxing break.
Business travel bookings, including for groups and meetings, are also on the up, with APAC accounting for the largest share of global business travel spend and poised to reach US$800 billion by 20272 .
This includes the return of large conferences and events such as the upcoming World Business Forum in Singapore
Sukumaran added: “It’s an exciting time for IHG in APAC. The strong performance of our hotels over the past year has strengthened owner appetite for continued investment in the hospitality industry."
“Industry statistics are showing a strong construction pipeline of over 5,700 projects across the region with over 1,200 to open this year alone in the hospitality sector."
“Overall, we’re really looking forward to what we’re going to achieve in APAC over the next decade as we expand our presence in the region’s established and emerging markets, and deliver experiences cherished by travellers of today and tomorrow.”
*IHG data from 1 January to 31 December 2023
More information on IHG’s full year results can be found here
[1]Global Outlook for Air Transport by IATA, December 2023 report
[2] Business travel in APAC poised to reach US$800 billion by 2027: GBTA | TTGmice
About IHG
IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to provide True Hospitality for Good.
With a family of 19 hotel brands and IHG One Rewards, one of the world's largest hotel loyalty programmes, IHG has over 6,300 open hotels in more than 100 countries, and a development pipeline of over 2,000 properties.
- Luxury & Lifestyle: Six Senses Hotels Resorts Spas, Regent Hotels & Resorts, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo
- Premium: voco hotels, HUALUXE Hotels & Resorts, Crowne Plaza Hotels & Resorts, EVEN Hotels
- Essentials: Holiday Inn Express, Holiday Inn Hotels & Resorts, Garner hotels, avid hotels
- Suites: Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites
- Exclusive Partners: Iberostar Beachfront Resorts
InterContinental Hotels Group PLC is the Group's holding company and is incorporated and registered in England and Wales. Approximately 345,000 people work across IHG's hotels and corporate offices globally.
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