NEW DELHI, Aug 23: Hospitality major nterContinental Hotels Group (IHG) will open 47 new properties in India by 2020, mainly in the mid-scale segment, as part of its expansion plans for the country.
“Over the next 3-5 years, we have a pipeline of about 47 hotels across India. We currently have 22 hotels here,” IHG South West Asia Head Shantha de Silva told PTI.
India is very important for the company as it is the third largest growing market after the US and China, he added.
The hospitality major is betting big on the mid-scale segment for growth in India going ahead.
“Going forward, mid-scale segment is where the most launches will be. India has a very huge middle class and the domestic travel is increasing tremendously. There is also continuing infrastructure improvement,” Silva said.
Focus on mid-scale segment will also help the company in entering tier-II and tier-III cities, he added.
Stating that the company follows “an asset light model”, he said, “We will be mainly following the management contract model here.”
When asked if IHG would also bring more brands to India, de Silva said it may not be the case in the near future.
It operates four brands here — India-InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express.
IHG currently has 7.24 lakh rooms across more than 4,900 hotels in nearly 100 countries. It operates hotels under three different models -– franchiser, manager and on an owned-and-leased basis. The largest part of business globally is under the franchise model.
The global hospitality chain operates brands including InterContinental, Hualuxe, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites. (PTI)
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