(IN SHORT) IHG Hotels & Resorts announces its ambitious plans for 2024, buoyed by the revival of Greater China’s cultural and tourism industry. Under the vision of “True Hospitality for Good,” IHG is poised to explore both established and emerging destinations, anticipating strong market confidence and energy consumption in the region. The company aims to reinforce its commitment to opening iconic hotels and supporting high-quality industry development, focusing on luxury expansions in tier 2 and 3 cities, winter sports tourism, cultural hubs in the Yangtze River Delta, and strategic locations for business travel and transportation hubs. Additionally, IHG is accelerating its growth through the franchise model, emphasizing its dedication to wider market penetration and strategic expansion across diverse regions and niche markets in Greater China.
(PRESS RELEASE) Shanghai, China, 2024-Feb-8 — /Travel PR News/ — IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, is paving the way for exciting developments in 2024. After a significant revival in Greater China’s cultural and tourism industry in 2023, IHG anticipates strong consumption of energy and market confidence in the new year. As an industry leader, IHG is exploring both preferred and emerging destinations in the region under its “True Hospitality for Good” vision.
Daniel Aylmer, Managing Director, IHG Greater China said, “Aspirations for an enhanced quality of life are driving how consumers want to experience culture and tourism, opening opportunities for the hospitality industry. Positive shifts in the domestic tourism policies and the cultural tourism industry’s steady recovery assure us that Greater China’s tourism market will flourish in the Year of the Dragon. We are reinforcing our commitment to opening more iconic hotels and supporting the industry’s high-quality development, collaborating with partners to craft memorable guest experiences.”
IHG currently features a diverse portfolio of 12 brands, comprising over 1,200 openings and pipelines in Greater China. Its brand matrix ranges from Luxury & Lifestyle to premium, and Essential collections, offering a rich variety of choices for travelers.
Pioneering New Frontiers: Luxury in Tier 2 and 3 Cities
The increasing demand for high-quality travel experiences in the Greater China, fueled by steady growth in consumer spending, has shifted attention from saturated luxury hotel markets in first-tier cities to second-and third-tier cities with economic potential and abundant tourism resources. IHG has responded by introducing its flagship brand, InterContinental Hotels & Resorts, in new locations like Xiangyang, Hubei, and Taichung, Taiwan. This strategic move taps into the growing luxury hotel market in these regions, paving the way for additional developments in the local luxury hospitality sector.
Expanding Horizons: Continued Popularity of Winter Sports Tourism
Themed tourism has gained popularity, especially during Chinese New Year and for winter sports, attracting diverse travelers to northern regions. Recognizing this market potential, IHG is enabling winter sports holidays with the debut of its Vignette Collection Shanghai Snow World Hotel and Crowne Plaza Shanghai Snow World. Anticipating market changes and customer demands, this move will support Greater China in its ambition to enable high-quality development for the winter sports industry.
Dominating the Heights: Luxury&Lifestyle Hotels in the Yangtze River Delta
The Yangtze River Delta, a dynamic economic hub in Greater China, has gained significant attention for its cultural and tourism development. In 2023, marking the fifth anniversary of its integration as a national strategy, the Yangtze River Delta is set to infuse new vitality into its cultural and tourism market, enhancing the region’s appeal. IHG will launch Hotel Indigo Hangzhou Qianjiang CBD and Hotel Indigo Suzhou Jinji Lake. Known for drawing inspiration from the heart of the neighborhood, these unique hotels will showcase local culture and heritage while catering to travelers’ personalized needs for high-quality stays.
Embracing New Opportunities: Business Travel and Transportation Hubs
As both business travel and urban networks expand in Greater China, city hub development is enhancing infrastructure, presenting IHG with opportunities to expand its presence. Meeting the demands for rising business travel in these hubs, IHG is opening voco Suites Shanghai Hongqiao CBD & EVEN Hotel Shanghai Hongqiao CBD, strategically located near the National Exhibition and Convention Center and Shanghai Hongqiao Airport, and Holiday Inn Shanghai Pudong Airport is near the Shanghai Pudong International Airport. Meanwhile, HUALUXE Shenzhen Bao’an for the Greater Bay Area business travel market. Additionally, a new Holiday Inn at the Hangzhou International Expo Center will offer an ideal destination for business travelers seeking memorable experiences in the city. Furthermore, a new Holiday Inn Guiyang Airport, located at Guiyang’s Longdongbao International Airport, provides an ideal setting for both business and leisure travelers to create a memorable experience.
Revitalizing Growth: Continued Support through Franchise Operations
IHG has been advancing the franchise model since 2016, actively expanding into the local business travel market. This strategic initiative has not only resulted in rapid market growth, but also heightened brand influence, with premium and essential collections, including Holiday Inn Express, Holiday Inn, EVEN Hotels, voco Hotels, and Crowne Plaza Hotels & Resorts. Rapidly expanding through franchise model, Holiday Inn Express is accelerating its development, with over 500 openings and pipelines in Greater China, particularly contributing to the group’s growth.
Furthermore, there are upcoming hotels such as Holiday Inn Express Shanghai Jing’an Temple and Holiday Inn Express Shenzhen Futian Center, voco Lianyungang Haizhou Bay, and voco Lianyungang Star of Haizhou Bay. With an increased focus on the franchise model, IHG aims to achieve wider market penetration across diverse regions and niche markets, emphasizing its commitment to strategic growth.
IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to provide True Hospitality for Good.
With a family of 19 hotel brands and IHG One Rewards, one of the world’s largest hotel loyalty programmes, IHG has over 6,200 open hotels in over 100 countries, and more than 2,000 in the development pipeline.
- Luxury & Lifestyle: Six Senses Hotels Resorts Spas, Regent Hotels & Resorts, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo
- Premium: voco hotels, HUALUXE Hotels & Resorts, Crowne Plaza Hotels & Resorts, EVEN Hotels
- Essentials: Holiday Inn Hotels & Resorts, Holiday Inn Express, avid hotels
- Suites: Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites
- Exclusive Partners: Iberostar Beachfront Resorts
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated and registered in England and Wales. Approximately 345,000 people work across IHG’s hotels and corporate offices globally.
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