InterContinental Hotels Group (IHG) has signed a deal with Indian real estate developer Brigade Group. Under the agreement, 10 Holiday Inn Express hotels will open in southern India.
The first two hotels are due to open in Bangalore in early 2017, while the remaining eight hotels are scheduled to open within the next four to seven years. The Holiday Inn Tidel Park in Chennai is also scheduled to open in Q2 of 2015.
“India’s middle class is fast expanding and this is fueling the demand for the midscale, select-service segment and thus our Holiday Inn Express brand-it is a brand that caters to the value-conscious traveler who is self-sufficient and purpose driven,” says Douglas Martell, the vice president of operations with South West Asia, IHG. “We have no doubt the business model of the brand will provide the Brigade Group with good returns on investment per hotel and we are delighted to have this opportunity to extend our relationship with the group and expand the brand’s presence in India.”
IHG currently has 14 hotels open in nine cities in India. Following the agreement, the group will have 57 hotels in the pipeline-50 of these being Holiday Inn or Holiday Inn Express hotels.
