InterContinental Reports Record Hotel Development
Americas region comprises 80 percent of global pipeline
LONDON, UK, September 7, 2006. As reported in the IHG Plc. interim results (to June 30, 2006) stock exchange announcement issued on August 22nd, InterContinental Hotels Group (IHG) [Lon: IHG; NYSE: IHG (ADRs)], the world's largest hotel group by number of rooms, is experiencing record development pipeline activity company-wide with exceptional momentum surrounding its Holiday Inn Hotels & Resorts, Crowne Plaza Hotels & Resorts and Hotel Indigo brands.
'As demonstrated by the 20-year record-high Holiday Inn pipeline, 25 percent jump in Crowne Plaza growth and perpetual interest in Hotel Indigo, IHG continues to attract franchisees and developers who recognize the strength and performance of all IHG brands,' said Kirk Kinsell, SVP and chief development officer, the Americas, IHG. 'The Americas region is experiencing phenomenal overall growth and will continue on this path with its 80 percent contribution to the IHG global development pipeline, which is the largest pipeline of any hotel company worldwide.'
The world's most recognized hotel brand, Holiday Inn Hotels & Resorts, is currently experiencing a 20-year record-high pipeline with 182 hotels. With 80 percent of the pipeline comprised of new build, the brand continues to lower the average age of the portfolio while maintaining the brand hallmarks that customers expect and depend upon when they choose Holiday Inn.
Outperforming its segment in RevPAR growth, Crowne Plaza Hotels & Resorts continues to expand its portfolio with 20 hotels (more than 4,600 rooms) in the pipeline to complement its existing 144 hotels (more than 40,000 rooms). In just the last 18 months, the brand has grown 25 percent as a result of new hotels opening across the Americas region.
Consistent with consumer response to Hotel Indigo, the newest member of the IHG family, the brand is well-positioned to meet the growing demand with 17 hotels in the pipeline. The existing portfolio consists of four hotels in the Atlanta, Houston and Chicago markets.
IHG experiences great success in attracting developers not only because of the company's strength in franchising and branding, but also as a result of IHG's proven track record in hotel management. The Hotel Management Group, the America's operations division of IHG, has a management pipeline of more than 4,500 rooms which will join its existing portfolio of more than 43,000 rooms. Most recently, The Hotel Management Group executed contracts for several hotels in cities across the U.S. including Baltimore, Baton Rouge, Houston, San Antonio and Savannah. The Hotel Management Group's latest offering, Performance AdvantageTM, was launched in March 2006. This proprietary hotel management program allows The Hotel Management Group to adapt its management services and contract terms based on the needs of each individual property investor.
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