Thursday, March 14, 2024
IHG Hotels & Resorts has achieved a significant milestone in Asia Pacific (APAC) with the opening of 1,012 hotels – marking a remarkable step forward for the renowned global hospitality brand in its regional expansion.
Throughout the past year, IHG has proudly unveiled numerous remarkable properties across APAC under its diverse array of brands, including Holiday Inn Hotels & Resorts, InterContinental Hotels & Resorts, Regent Hotels & Resorts, Hotel Indigo, Vignette Collection, voco hotels, and Crowne Plaza Hotels & Resorts.
Anticipating a resurgence in demand for hotel accommodations this year, coupled with robust long-term growth projections, the outlook for travel in the region appears promising. Surpassing the 1,000-hotel mark underscores IHG’s commitment to becoming the preferred choice for guests and property owners alike, both in established and emerging destinations across its expansive portfolio.
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 set to experience unparalleled growth in passenger traffic worldwide in the long term. Recent relaxations in travel regulations, such as visa-waiver agreements and the establishment of new flight routes and airlines, are driving the demand for hotel accommodations in APAC. IHG stands at an advantageous position to capitalize on this opportunity, with a burgeoning pipeline of 705 hotels spread across 22 countries and spanning 13 distinct brands. This expansion is further bolstered by the IHG One Rewards loyalty program, boasting a rapidly growing membership base of over 130 million worldwide.
Recognizing a shift towards experiential spending, IHG is catering to leisure travelers seeking to broaden their horizons. Emerging destinations like Halong Bay, Nagasaki, Penang, Lifou, Hubei, and Taichung offer travelers the opportunity to commemorate special occasions or unwind with a rejuvenating retreat.
Moreover, there’s a notable uptick in business travel bookings, encompassing group gatherings and meetings, with APAC leading the global expenditure, projected to reach US$800 billion by 2027. This resurgence includes the return of large-scale conferences and events, exemplified by 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.”
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