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Published on : Saturday, July 9, 2016
IHG Chief Executive Richard Solomons said that the Holiday Inn and Staybridge Suites brands would be the pivotal to the group’s success in the region.
He explained that travelers coming from developing markets where the volumes are, they will be in this mainstream market. While the city of London and Wall Street tend to fixate on upscale sector, the fact is that most people are mid-market travelers.
IHG currently operates 22 per cent of the rooms in this category in the Americas and has 27 per cent of the pipeline of future hotels, illustrating its importance.
Value for money would be the key driver when selecting where to stay, Solomons argued. This applied to both business travel, where corporations are looking to make savings, and the leisure sector, where price was paramount.
In the longer-term Solomons pointed to rising GDP, an aging demographic and concurrent rise in disposable income, and the globalisation of travel as positive factors for the growth of IHG in the Americas.
IHG chief executive for the Americas, Elie Maalouf, explained that while the Americas incorporated 22 countries, the group was focused on the United States, Canada and Mexico.
These three nations combined accounted for 96 per cent of IHG’s revenue in the region, he said.