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Global hospitality major InterContinental Hotels Group (IHG), along with Indian partner Duet India, is planning to set up 19 hotels across the country, with an investment of about Rs 2,000 crore.
The joint venture partners have said the focus will be on business travellers, and this will be catered to by two brands — Holiday Inn and Holiday Express. For each of the new hotels of the joint venture, in which IHG held 24 per cent stake, an investment of about Rs 70-80 crore would be required, said Naveen Jain, president of Duet India.
Jain was speaking to reporters after the inauguration of a new HolidayInn Express property at Mahindra World City on the outskirts of this city. This is the brand’s second property in India.
Now, the company is planning to set up projects in Hyderabad, Chennai, Mumbai and Indore. It was also looking at Goa, Bangalore, Mumbai and the Delhi National Capital Region, said Pascal Gauvin, chief operating officer (India, West Asia and Africa).
He said IHG planned to sign up 57 hotels, 85 per cent of which would be under the Holiday Inn and Holiday Express brands.
“We see a huge opportunity for the business segment and these two brands will play a key role to cater to the demand.” Gauvin ruled out the possible of entering the luxury or budget segments, saying “both categories are too niche for us”. Besides Holiday Inn and Holiday Inn Express, the global hospitality major also runs Intercontinental Hotels and Resorts and Crowne Plaza.
