British hotel giant InterContinental Hotels Group plans to develop the newest hotel brand for the Chinese market. The company expects to use China as a launching pad for further promotion of the new hotel chain in Southeast Asia.
The new brand will be presented by luxury hotels. The new network in China will be introduced during the next six months. According to The Wall Street Journal, the brand’s name is still unknown.
Currently IHG manages such hotel chains as InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Hotel Indigo, Staybridge and Candlewood hotel. In 2012 in addition to China the company also intends to present new hotel chain of the middle price segment on the US market.
Nevertheless, in the near future China will be the main venue of the furious battle between the major world hotel corporations. China continues to be one of the fastest growing tourism markets in the world. The number of business trips and tourists in China is steadily increasing. According to the forecasts of the World Tourism Organization, China will surpass the US by the number of hotels in 2025.
Potential of the Chinese hotel industry is backed by the data provided by the main IHG competitors. Thus, Hilton Corporation announced its plans to open 100 new hotels in China until 2014.
As for the InterContinental Hotels Group, currently the company manages 160 hotels throughout the country, 140 more are being built. As for the new brand, to date the company has signed about 12 agreements on hotel management. Among the cities where will be introduced the Chinese hotel chain are Beijing, Shanghai and other megapolises.