IHG has signed a deal with Brigade Group under which 10 Holiday Inn Express hotels will be built in southern India, owned by Brigade Group and managed by IHG.
The first two hotels under the partnership will open in Bangalore in early 2017, while the remaining eight hotels are scheduled to open within the next four to seven years. IHG and Brigade Group are currently in partnership for the Holiday Inn Tidel Park in Chennai, which is scheduled to open in the second quarter of 2015.
IHG currently has 14 hotels open in nine cities in India. With this agreement, the company will have 57 hotels in the pipeline in India, with 50 of these being Holiday Inn or Holiday Inn Express hotels.
“India’s middle class is fast expanding, and this is fueling the demand for the midscale, select-service segment and thus our Holiday Inn Express brand,” said Douglas Martell, vice president operations South West Asia for IHG. “We have no doubt the business model of the brand will provide the Brigade Group with good returns on investment per hotel, and we are delighted to have this opportunity to extend our relationship with the group and expand the brand’s presence in India.”