As one of the world's leading hotel companies, IHG has announced the opening of its 600th property in Greater China with the debut of Kimpton Bamboo Grove Suzhou. Committed to yielding the industry's top net room growth in the fastest-growing market globally, the new hotel is a testament to the Group's collaborative efforts with its owners.
IHG has been deeply-seated in Greater China for nearly four decades since the opening of the first Holiday Inn hotel in Beijing. As one of the first international hotel companies to break into Greater China, IHG has a long-standing commitment to its "In China, For China" strategy, empowering the swift development of the Chinese hospitality industry while accomplishing remarkable success with continued local investments.
"Greater China remains our second largest market and a future growth engine for our global business," said Jolyon Bulley, Chief Executive Officer, IHG Greater China. "While Covid-related travel restrictions had posed challenges to the travel and hospitality industry, the market showed strong resilience and growth opportunities stimulated by favourable policies, including the 14th Five-Year Tourism Development Plan. With IHG's formidable global expertise and profound insights into the local market, we are confident in Greater China's huge market potential and long-range success."
Kimpton Bamboo Grove Suzhou
IHG was a key pioneering international hotel company to introduce the franchise model to Greater China. The company has since executed franchising as a high return-on-investment alternative to its successful managed model as the industry continues to evolve and relationships with hotel developers and owners deepen.
In 2016, IHG debuted the innovative “Franchise Plus” model for Holiday Inn Express in China and extended franchising to Holiday Inn and Crowne Plaza the following year. It was an immediate success and achieved the 100th franchise milestone within three years. Now, IHG is about to realise its 200th franchise milestone, building momentum with 16 new franchise agreements for Crowne Plaza in the first half of 2022.
