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IHG join forces with Shimao in China
InterContinental Hotels Group (IHG) has announced that it will open six new hotels in China after signing a deal with Chinese developer, Shimao Group.
An extra 2,100 rooms will be added to IHG's existing Greater China pipeline as a result of the deal, and it follows a previous agreement between the two companies that sees IHG manage a Holiday Inn site for Shimao. Three of the new hotels – Beijing, Shanghai and Fuzhou – will open under the InterContinental Hotels & Resorts brand, while a further two in Shaoxing and Mudanjiang will operate as Holiday Inns. Another Shaoxing site will be opened as a Crowne Plaza hotel.
IHG first entered the Chinese market in 1984, and has opened more than 100 hotels in the country this year, with a further 100 under development. In 2006, the British-based hotel operator also signed multi-hotel deals with both Chengdu International Exhibition and Convention Group and Shanghai Greenland Group. Andy Cosslett, IHG's chief executive, said: "The agreement demonstrates Shimao's confidence in our brands and the infrastructure we have built in China since 1984. One third of all our new signings are with hotel owners who are already working with us.
Hui Wing Mau, chair of Shimao Group, said: "With their commitment to developing the hospitality industry in China, we move forward together with every confidence that all of these hotels will have a bright future and lay the foundations for future co-operation with IHG." It is expected that each of the six new hotels will be opened by 2013
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