IHG Hotels & Resorts (IHG) now has 1,012 open hotels in Asia-Pacific, a major milestone for the global hospitality company as it accelerates its growth across the region.
Rajit Sukumaran, senior vice president & managing director, East Asia & Pacific (EAPAC), IHG, said: “To hit 1,000 open hotels in Asia-Pacific – including more than 700 in Greater China – is a fantastic achievement for IHG in one of the most dynamic regions in the world. We’re seizing the great long-term opportunities by investing in our brands, delivering great returns for our owners, and driving growth in our markets.”
The group launched several new properties across many brands in the region last year.
“We’re also investing in our six Luxury & Lifestyle brands, which account for 22 per cent of our global pipeline, around twice the amount five years ago,” shared Sukumaran, adding that in recognising the power of conversions, IHG also intends to “grow our brand portfolio in Asia-Pacific in this space – including Garner, our new midscale conversion brand, which will soon have three properties in Osaka, Japan, and which has a great future across the region”.
Assessing the region’s travel and tourism potential, the group noted that demand for hotel stays is on the rise due to long term and relaxed travel arrangements, including visa-waiver agreements between countries, and the creation of new flight routes and new airlines. Business travel bookings, including for groups and meetings, are also climbing, with Asia-Pacific accounting for the largest share of global business travel spend and poised to reach US$800 billion by 2027, including the return of large conferences and events such as the upcoming World Business Forum in Singapore.
Sukumaran said: “Industry statistics are showing a strong construction pipeline of over 5,700 projects across the region with over 1,200 to open this year alone in the hospitality sector.
“Overall, we’re really looking forward to what we’re going to achieve in Asia-Pacific over the next decade as we expand our presence in the region’s established and emerging markets, and deliver experiences cherished by travellers of today and tomorrow.”
