Press release from Business Wire India
Source: Holiday Inn Express
Tuesday, November 20, 2012 01:00 PM IST (07:30 AM GMT)
Editors: General: Consumer interest, Entertainment, Lifestyle, People, Travel & tourism; Business: Business services, Hospitality, Media & entertainment, Travel & tourism
Holiday Inn Express Launches in India
Duet India Hotels and IHG open the first hotel in Ahmedabad with 18 more properties due by 2016
New Delhi, Delhi, India, Tuesday, November 20, 2012 — (Business Wire India) — Holiday Inn Express, one of the world’s fastest growing hotel brands, officially debuted in India today with the opening of Holiday Inn Express Ahmedabad. The hotel, and a further 18 properties under the same brand, are being developed through a joint venture partnership between Duet India Hotels (DIH) who hold a 76% stake and IHG (InterContinental Hotels Group) who have a 24% equity stake.
Located in close proximity to the airport and city centre, the 173-room property answers the growing demand for smart travel, from independent and savvy travellers seeking comfort, convenience and value in key cities and leisure destinations around the world. With its streamlined operations Holiday Inn Express Ahmedabad focuses on providing guests with quality, well designed rooms, a core range of facilities and complimentary Wi-Fi and breakfast, allowing guests to make the most of their stay at competitive prices.
“We’ve identified a gap for quality mid-market hotels across the country and fulfilling the growing demands of these guests is our business focus. The mid-market hotel space in India offers a compelling investment proposition, with favourable demand-supply dynamics and an attractive build cost to operating returns equation.”
“Our strategic partnership with IHG gives us with the platform to tap into the full potential of this opportunity. At Duet we concentrate on the property asset – using our expertise to find the right site and building the product. IHG then manage the operation of the hotels on our behalf. The strengths of our two organisations combined will ensure these hotels succeed,” said Naveen Jain, President, Duet India Hotels.
DIH chose to invest in Holiday Inn Express because it is one of the largest and most recognisable hotel brands in the world with over 2,170 hotels around the globe. There are 37 Holiday Inn Express hotels across Asia Pacific and this will grow to nearly 100 over the next few years, making Holiday Inn Express one of the fastest growing brands in the region.
Douglas Martell, Vice President Operations, South West Asia, IHG said, “The demand is there for branded hotels that people know and trust – midscale hotels in India currently represent just 15 percent of all hotel rooms and this means there’s incredible headroom for growth. If you look at domestic trips, Ahmedabad is one of the cities benefitting from a strong, local travel base and a clear gap exists here in the mid-market segment.”
“To meet this demand and be successful you have to bring together the right owner, the right brand and the right hotel operator. That’s what our partnership with Duet achieves and Holiday Inn Express Ahmedabad is the first step on our journey.”
NOTES TO EDITOR:
About Holiday Inn Express:
Holiday Inn Express hotels are modern hotels for value-oriented travellers. Fresh, clean and uncomplicated, Holiday Inn Express hotels offer competitive rates for both business and leisure travellers. Guests Stay Smart® at Holiday Inn Express hotels where they enjoy a free hot Express Start® Breakfast Bar, free high-speed internet access and free local phone calls (US and Canada only). There are currently more than 1,900 Holiday Inn Express hotel locations around the globe. For more information about Holiday Inn Express hotels or to book reservations visit www.hiexpress.com.
About Duet India Hotels Limited:
Duet India Hotels is an owner and developer of internationally branded midscale and upper midscale business hotels in India. The company has raised significant equity capital for developing hotels in India. Duet India Hotels has a joint venture (76% DIH & 24% IHG) with InterContinental Hotels Group called Duet Smart Hotels India for developing Holiday Inn Express hotels. The first Holiday Inn Express is being launched at Ahmedabad in November 2012 and two hotels in Chennai, one in Hyderabad and two hotels in Navi Mumbai are under development. Duet India Hotels has plans to develop over 4000 hotel rooms in India over the next 3-5 years. www.duetindiahotels.com; www.duetgroup.net.
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with nine hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites®, EVENT Hotels and HUALUXET Hotels & Resorts. IHG also manages Priority Club® Rewards, the world’s first and largest hotel loyalty programme with over 69 million members worldwide.
IHG franchises, leases, manages or owns over 4,500 hotels and more than 672,000 guest rooms in nearly 100 countries and territories. With more than 1,000 hotels in its development pipeline, IHG expects to recruit around 90,000 people into additional roles across its estate over the next few years.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales.
Visit www.ihg.com for hotel information and reservations and www.priorityclub.com for more on Priority Club Rewards. For our latest news, visit www.ihg.com/media, www.twitter.com/ihg, www.facebook.com/ihg or www.youtube.com/ihgplc.
Bindi Saikia, Bite Communications, +91 9818913289, firstname.lastname@example.org
Divya Pall, General Manager – Marketing & Public Relations, DUET INDIA HOTELS, +91 9910386676, email@example.com
CONSUMER, ENTERTAINMENT, LIFESTYLE, PEOPLE, TOURISM, BUSINESS SERVICES, HOSPITALITY, MEDIA, TRAVEL
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