Monday, Apr 30, 2012
Gulf News
Dubai InterContinental Hotels Group (IHG) plans to double its revenue in the Middle East and Africa region over the coming few years by expanding its portfolio, according to a senior company executive.
The Middle East and Africa region posted $1.2 billion (Dh4.40 billion) in revenue in 2011 for the US-based global hotel chain. “Our target is to double our revenue in India, Middle East and Africa in the coming five years. We are not very much present in India as of now, but are launching slowly in that market so we want to double our revenue including in India [as a part of the region],” Pascal Gauvin, IGH’s Chief Operating Officer for India, Middle East and Africa, told Gulf News in an interview.
IHG has 93 hotels operating in the Middle East and Africa region with 57 hotels in the pipeline, according to Gauvin, who says that the company is represented in the region by most of its brands including InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express and Staybridge Suites.
And its next brand to be introduced in this market will be “Indigo”, which is currently under construction in Riyadh, Saudi Arabia, and “due for opening in 2014”.
The only three brands from IHG’s global portfolio which do not currently have a presence in this region include Candlewood Suites and the two newly-launched (niche) brands this year — Even Hotels, the mid-scale brand targeted at health-conscious travellers, and Hualuxe, a China-centric brand specifically launched for the Chinese market.
By Shweta Jain?Senior Reporter
Gulf News 2012. All rights reserved.
