IHG Hotels & Resorts to double its footprint in India in 5 years

IHG company is expanding its footprint in key Indian cities

Boosted by its strong performance in the Indian market in 2023 when it signed on 13 new properties, leading hospitality group IHG Hotels & Resorts has now set a target of doubling its operating portfolio within the next five years in India, aiming to operate 100 hotels.

In a press statement, the IHG says that the company is expanding its footprint in key Indian cities like Gurgaon, Mumbai and Goa. The statement adds that IHG operates through its six core brands in India such as InterContinental Hotels and Resorts, Crowne Plaza, voco, Holiday Inn, Holiday Inn Express and Staybridge Suites, aligning with the evolving demands of Indian travellers.

The chain says its revenue per available room surged nearly 30 pc last year in India compared to 2019. The occupancy rate improved over 12 pc last year from 2019 and the average occupancy rate was about 66 pc in 2019.

Haitham Mattar

“We have a long-standing history in India, and we remain committed to growing our presence across the country. India’s hospitality sector is experiencing a dynamic transformation, driven by a confluence of factors including increased disposable income, a growing middle class with a taste for travel, and the development of new tourism destinations. Our strategic expansion plan not only allows us to cater to this growing demand but also positions IHG to be a key player in shaping the future of hospitality in India. By leveraging our diverse brand portfolio and commitment to guest experience, we will offer travellers a wider choice of accommodation options, contributing to the overall growth and vibrancy of the Indian tourism landscape,” says Haitham Mattar, Managing Director, India, Middle East and Africa, IHG Hotels & Resorts.

Sudeep Jain

“We are proud to have delivered a strong signing performance last year and are on track to record another successful year, fuelling our growth ambitions in the country. The continued confidence of our owners in IHG’s diverse portfolio, ranging from the Holiday Inn brand family to our luxury and lifestyle offerings, positions us perfectly to cater to the evolving needs of domestic and international travellers,” says Sudeep Jain, Managing Director, South-West Asia, IHG Hotels & Resorts.

“We have ambitious expansion plans to grow our portfolio in India across all brand segments. Our essentials portfolio has worked extremely well for this market, which is primarily driven by domestic tourism. We have a very optimistic outlook for our growth in the luxury and lifestyle segment too. We believe that establishing a strong foundation and platform is essential for the expansion of our luxury brands further. This approach allows us to carefully select the right partners in the right locations, ensuring that we can deliver exceptional experiences that align with the expectations of luxury travellers,” he added.

IHG currently operates 51 hotels with over 8,500 rooms South West Asia, out of which 46 hotels with over 7,800 rooms are in India, says the statement.