IHG Hotels to Double Presence in India in 5 Years

Mumbai, Apr 24 (PTI) Global hospitality company IHG Hotels & Resorts on Wednesday said it is planning to double its presence in India in next five years with 100 operating hotels.

IHG Hotels & Resorts currently operates 46 hotels (over 7,800 rooms) in India, the company said in a statement.

Last year, the company signed a record 13 deals across its brands in luxury, premium and essentials categories, strengthening its footprint in Gurugram, Jim Corbett, Mumbai, Amritsar and Goa.

Around 70 per cent of the deals were in midscale and upper midscale segments, which continues to be a growth driver for the company in India, followed by the premium and luxury segments, it stated.

Beyond established destinations, IHG is also targeting high-growth secondary markets like Amritsar, Lucknow, Zirakpur, Kasauli and Katra, while reinvigorating its footing in popular tourist destinations, said the statement.

In 2023, occupancy rates across IHG hotels exceeded the pre-pandemic levels by a significant margin and the revenue per available room (RevPAR) witnessed a growth of over 30 per cent compared to the levels of 2019 and 2022, the company said.

IHG in India operates through its core brands such as Six Senses and InterContinental Hotels and Resorts in the luxury and lifestyle segment, Crowne Plaza Hotels and Resorts and voco in the premium segment, and Holiday Inn and Holiday Inn Express in the midscale and upper midscale segments.

"We have ambitious expansion plans to grow our portfolio in India across all brand segments. Our midscale and upper midscale portfolio has worked extremely well for this market, which is primarily driven by domestic tourism. We have a very optimistic outlook for our growth in the luxury and lifestyle segment too," IHG Hotels and Resorts Managing Director, South-West Asia, Sudeep Jain added.