InterContinental Hotels alters India strategy

The UK-based hospitality major InterContinental Hotels Group (IHG) is changing its India strategy which involves giving up the franchisee route and entering into management contract agreements with real estate developers for all its new projects. The hospitality major has announced signing of six additional management contracts across India which include InterContinental and Holiday Inn in Pune, Holiday Inn and two Crowne Plaza in Cochin and Crowne Plaza in New Delhi. Late last year, IHG signed with Today Hotels to manage the Crowne Plaza Gurgaon, scheduled to open in June this year. The InterContinental Pune, a 200-room hotel will be developed with the Poonawalla Group, while Crowne Plaza Cochin, a 220-room hotel, is to be developed with the KGA Group. The 250-room Holiday Inn Hinjewadi Pune is being developed with Vascon Engineers, while Holiday Inn Kochi is developed with Indroyal Group.

Courtesy: EconomicTimes
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