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Intercontinental Hotels Group (ihg) Committed To Ongoing Expansion In Mexico, Latin America & The Caribbean

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Intercontinental Hotels Group (ihg) Committed To Ongoing Expansion In Mexico, Latin America & The Caribbean
InterContinental Hotels Group (IHG), one of the worlds leading hotel companies, on the heels of strong 2nd
Quarter 2016 financial results, continues expanding its brands throughout Mexico, Latin America and the
Caribbean, with 40 new hotels in the current pipeline, adding nearly 6,000 rooms in the region over the next
several years. The growth is buoyed by strong relationships with existing owners, as well as new entities
entering the hotel-ownership arena. In 2016 alone, IHG announced the arrival of the Candlewood Suites
brand in Mexico and the continued growth of the Staybridge Suites brand alongside the opening of a Holiday
Inn Resort in Mazatlan in the same country.Other highlights of the companys ongoing growth in key markets
include the signing of two new-build Holiday Inn Express hotels in Peru and the launch of the first Holiday Inn
Express hotel in Paraguay which joins IHGs Crowne Plaza in the countrys capital city of Asuncion. IHG is also
set to debut the highly anticipated InterContinental Santo Domingo in the Dominican Republic, which
expands the presence of the InterContinental brand within the Caribbean. In 2015, IHG acquired the world’s
largest independent boutique hotel operator, Kimpton Hotels & Restaurants. Debuting in November, the
Kimpton Seafire Resort + Spa in Grand Cayman will have the distinction of being IHGs first Kimpton brand
opening in the Caribbean. The 266-guestroom resort is Grand Caymans first new resort development in more
than a decade.Additionally, the opening of a Crowne Plaza in Colombia early next year will mark the companys
14th property in the country and IHGs second hotel brand to gain a footing in the booming metropolis of
Barranquilla. The Crowne Plaza brand is also strengthening its Mexico presence with two newly signed
properties in the key cities of Chihuahua and San Miguel Allende. In June, IHG announced that it is investing
$200 million in the Crowne Plaza Hotels & Resorts brand in the Americas region. By the end of 2017, IHG will
also open additional hotels across Mexico, Brazil, Colombia, Chile and the Bahamas, as well as in rapidly
emerging markets such as Ecuador. Jorge Apaez, Chief Operating Officer, Mexico, Latin America and
Caribbean, IHG said: We are very pleased that both our long-standing as well as new ownership groups
continue to see the value of IHG-branded hotels. Our brands continue to serve the growing number of both
business and leisure travelers in the region. This is particularly true of our Holiday Inn and Holiday Inn
Express brands which are ideally suited for the modern-day traveler. The rapid growth of these brands,
alongside the IHG Rewards Club program, is an example of how IHG continues to positively impact the hotel
industry in Mexico, Latin America and the Caribbean. As the international hotel company with the longest
track record of success in the region, we look to further growing our number of hotels and provide the
unparalleled experience that exceeds the expectations of todays travelers.IHGs growth in Mexico, Latin
America and the Caribbean is a microcosm of IHGs overall growth throughout the globe. Earlier this year, the
company marked a great milestone with the opening of its 5000th hotel.Recently, InterContinental Hotels
Group (IHG) released its 2016 Interim Results. It was a good first half, with solid revenue growth driven by
both RevPAR and rooms. IHGs strong pipeline is driving momentum and supporting future growth. In the
first half, IHG signed 35,000 rooms into the pipeline, taking the total pipeline to 222,000 rooms, the
strongest pipeline growth since 2008. While the number of signings represent more than one hotel per day it
also reflects owner confidence in IHGs brands, especially the Holiday Inn family of brands, InterContinental,
Candlewood as well as Staybridge brands. Currently, 45 percent of IHGs global pipeline is under construction.
IHG now has hotels in nearly 100 countries and more than 96 million members in the worlds largest hotel
loyalty program, IHG Rewards Club. The programs success is bolstered by the fact that it is nearing its five-
millionth member within the Mexico, Latin America and Caribbean region alone.With its roots in Latin America,
the first InterContinental hotel opened in Belem, Brazil 1946. Currently, IHG has six brands throughout 21
countries in Mexico, Latin America and the Caribbean, totaling 221 hotels and nearly 38,000 rooms.

Source: Hospitality News
Intercontinental Hotels Group (ihg) Committed To Ongoing Expansion In Mexico, Latin America & The Caribbean

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