Kolkata: Inter Continental Hotels Group (IHG) has signed a deal with South India’s leading real estate developer, Brigade Group, to open chain of hotels in India.
Under the agreement, ten Holiday Inn Express hotels will be built in southern parts of India,
Owned by
Brigade Group and managed by IHG, the first two hotels under the agreement will open in Bangalore in
early 2017, while the remaining eight hotels are scheduled to open
within the next four to seven years, according to a report.
IHG and Brigade Group are currently in partnership for the Holiday Inn Tidel Park in Chennai, which is scheduled to open at Old Mahabalipuram Road (OMR) in the second quarter of 2015.
M R Jaishankar, Chairman and Managing Director, Brigade Enterprises Ltd., said, "Partnering with IHG is ideal as the company brings with it many years of international hotel management experience with global brands like Holiday Inn. This will complement our local business knowledge and add to our success.”
Douglas Martell, Vice President Operations South West Asia, IHG commented, “India’s middle class is fast expanding and this is fuelling the demand for the midscale, select-service segment and thus our Holiday Inn Express would cater to the value-conscious traveller who is self-sufficient and purpose driven."
"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," Martell said.
IHG currently has 14 hotels open in nine cities in India. Following the agreement, the group will have 57 hotels in pipeline – 50 of these being Holiday Inn or Holiday Inn Express hotels.
IHG and Brigade Group are currently in partnership for the Holiday Inn Tidel Park in Chennai, which is scheduled to open at Old Mahabalipuram Road (OMR) in the second quarter of 2015.
M R Jaishankar, Chairman and Managing Director, Brigade Enterprises Ltd., said, "Partnering with IHG is ideal as the company brings with it many years of international hotel management experience with global brands like Holiday Inn. This will complement our local business knowledge and add to our success.”
Douglas Martell, Vice President Operations South West Asia, IHG commented, “India’s middle class is fast expanding and this is fuelling the demand for the midscale, select-service segment and thus our Holiday Inn Express would cater to the value-conscious traveller who is self-sufficient and purpose driven."
"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," Martell said.
IHG currently has 14 hotels open in nine cities in India. Following the agreement, the group will have 57 hotels in pipeline – 50 of these being Holiday Inn or Holiday Inn Express hotels.
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