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InterContinental Boosts Its Chinese Portfolio Up To 250 Properties
InterContinental Hotels Group (IHG) has officially confirmed its intention to double its presence in China. Over the next five years, the group is planning to increase its Chinese portfolio to over 250 properties. The claim was made public following the opening of two hotels in Nanjin and Shanghai and last month's signing of a contract for the construction of five hotels with HNA Hotels and Resorts. Currently, InterContinental tops the list of international hotel groups with 131 working hotels (45,940 rooms) and 146 pipeline projects (47,848 rooms).
Considering these tendencies, China seems to have promptly won back the losses from the last year's recession. In any event, IHG financial reports on the first quarter of the year have suggested a 22,2% RevPAR growth (income per room), which reached 27,1% by April.
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