News

IHG inks deal for 15 Holiday Inn Express hotels

InterContinental Hotels (IHG) has struck a deal with an investment firm to build 15 Holiday Inn Express hotels in Australia, with the first set to open in Sydney in autumn next year.

Pro Invest Group has established a $150 million war chest to build and operate an initial 15 properties in central business, suburban and airports in Sydney, Melbourne, Perth and Brisbane.

IHG will sign a franchise agreement for each of the hotels under a “multiple development agreement”.

The first will open at Macquarie Park in North Ryde, Sydney mid next year, offering 190 rooms.

The total portfolio of 15 hotels will comprise 2100 rooms.

The Pro Ivest Group deal is separate to one signed in March with WA-based developer Sunfire Asset to build a 224-room Holiday Inn Express in Perth. That is due to open in 2015.

The hotel firm has previously suggested it could develop at least 30 Holiday Inn Express (HIX) hotels in Australia.

IHG Asia, Middle East and Africa chief executive Jan Smits said: “Our current hotel brands [in Australia], InterContinental, Crowne Plaza and Holiday Inn are already well known and regarded by our hotel owners and Holiday Inn Express is a welcome addition.”

Pro Invest principal Ronald Barrott said a group of offshore investors have contributed to the $150m fund.

“[They all see] the potential of investing in both the Holiday Inn Express brand and Australia,” he said. “We believe now is the time to grow this brand in the market and travellers will certainly benefit from having one of the world’s biggest hotel brands to choose from.”

IHG head of development, Phil Kasselis told Travel Today in March that Australia could see at least 30 HIX hotels.

The “efficient, modular design and no frills approach” enabled a faster build time than upscale or luxury hotels, he said.

“It’s also a lower cost and higher yield model which represents a faster road to profitability for owners,” he said.

SEE WHAT PEOPLE ARE SAYING

Comments are closed.

Aviation

Is former Virgin CEO Paul Scurrah set to fly back to Rex?

by Huntley Mitchell

Paul Scurrah has been laying low since exiting Virgin late last year, but the speculation wheel has started to turn around his next role.

Share

CommentComments

Travel Agents

“We need to address the elephant in the room”: travel agent implores the government to make “the announcement”

by Linda Forster

Mobile Travel Agent Linda Forster waxes poetic about the struggles of the travel industry in this impassioned plea for the government to stop turning a blind eye.

Share

CommentComments

Cruise

Ponant appoints BDM for New South Wales and the ACT

The luxe cruise line has hired a new local BDM … as in a business development manager, not a basketball dunking master or a bad decision-maker.

Share

CommentComments

Aviation

Will you accept this flight? Stood-down Jetstar pilot becomes Australia’s new Bachelor

by Ali Coulton

After having his career put on hold by COVID-19, this super-handsome, self-professed romantic took the obvious course of action and became Australia’s newest Bachelor!

Share

CommentComments

Destinations

Australia takes out Tripadvisor award for world’s best beach

Your clients don’t need to travel internationally to check out this year’s winner, which is a relief, because if it wasn’t, you’d be waiting a while to visit.

Share

CommentComments

Events

MTA agents flock to the Gold Coast for long-awaited Virtuoso event

After a few false starts, the team at MTA have finally got their hands on the latest in luxury travel intel from Virtuoso.

Share

CommentComments

Travel Agents

Collapse of Helloworld agencies prompt urgent warning from business restructuring expert

Struggling travel companies are being urged to seek help before JobKeeper is wound back.

Share

CommentComments

Aviation

Flight forced to perform emergency landing after cat attacks pilot

Plane passengers have been left bemused and a bit ticked off after pilots were forced to turn their flight around due to a ferocious feline.

Share

CommentComments

Destinations

Hamish Blake and Zoe Foster-Blake return for Tourism Australia’s latest marketing push

Australia’s fave power couple are back to promote the country’s domestic tourism greatness.

Share

CommentComments

Tourism

STUDY: 86 per cent of Aussies back the ‘vaccine passport’

It looks like most of us are ready and raring to pack up our suitcases and jump on the next plane out of here.

Share

CommentComments

Cruise

Carnival is selling its very own cruise-themed Monopoly game

Unfortunately, even the mere mention of Monopoly is banned in the Travel Weekly office after “the incident”.

Share

CommentComments

Hotels

IHG outlines decade-long plan for sustainable tourism

Raise your KeepCup in delight at the hotel giant’s new spate of commitments to sustainable travel.

Share

CommentComments