IHG Hotels & Resorts has reached 1,012 hotels open in the Asia Pacific region following notable openings in 2023 across many of its brands, including Holiday Inn Hotels & Resorts, InterContinental Hotels & Resorts, Regent Hotels & Resorts, Hotel Indigo, Vignette Collection, voco. hotels and Crowne Plaza Hotels & Resorts.
The APAC region is set to see the fastest growth in long-term global passenger traffic and newly relaxed travel arrangements (including visa waiver agreements between countries and the creation of new flight routes and new airlines) are driving demand for hotel stays. in APAC, IHG said March 14.
In this way, the expansion of the hotel group in the region will continue. Currently, IHG says it has 705 hotels in 22 countries with 13 brands in the pipeline.
Looking ahead, IHG predicts that people will travel and spend more on experiences and to meet this demand, the group is exploring upcoming destinations such as Halong Bay, Nagasaki, Penang, Lifou, Hubei and Taichung.
Business travel bookings, including for groups and meetings, are also increasing: APAC accounts for the majority of global business travel spending and is poised to reach $800 billion by 2027. This includes the return of large conferences and events such as the upcoming World Business Forum in Singapore, IHG said.
“Reaching 1,000 hotels open 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 are also investing in our six luxury and lifestyle brands, which represent 22% of our global portfolio, approximately double what it was five years ago. We have built a strong presence in this segment in the region, with 45% of the global luxury and lifestyle portfolio in APAC. It is home to approximately 60% of the global portfolio of our InterContinental brand, as well as iconic and award-winning hotels in Six Senses and Regent,” said Rajit Sukumaran, senior vice president and general manager, East Asia and Pacific, IHG Hotels & Resorts.
“Industry statistics show a strong construction pipeline of more than 5,700 projects across the region, of which more than 1,200 will open this year in the hospitality sector alone,” he added.
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