InterContinental plans 14 Holiday Inns in India

Written by Reuters | Mumbai, March 31: | Updated: Mar 31 2008, 22:38pm hrs
InterContinental Hotels Group said on Monday it is building 14 Holiday Inn hotels in India to tap rising middle class incomes and the growing traffic in inbound and outbound travel.

The 14 properties, accounting for more than 3,700 rooms, are scheduled to open over the next three years in 11 cities including Bangalore, New Delhi, Kolkata, Mumbai and Pune.

IHG now has 13 hotels in India and its pipeline of 20 hotels also includes the InterContinental and Crowne Plaza brands.

India is an important market for IHG (and) the greatest opportunity for growth is in the midscale segment, Peter Gowers, chief executive, IHG Asia Pacific, said in a statement.

Holiday Inn now accounts for almost three quarters of our new developments in India. Massive shortages in Indias hotel market has pushed up room rates in recent years. The country has only about 110,000 hotel rooms, with branded rooms making up less than a third of that.