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IHG hits £1bn mark in China
InterContinental Hotels (IHG) said yesterday sales from China would beat $1bn (£626m) for the first time this year, as it prepares to double its hotel count in the fast-growing market. The emergence of a middle class in China who are keen on travel has led big hotel operators to pile into the market, with InterContinental, Marriott International, Accor and others building their portfolios. IHG, the world’s top hotelier by room count, whose brands include Crowne Plaza and Holiday Inn, had 132 hotels in Greater China, which includes Taiwan and Hong Kong, at the end of June with another 148 in the pipeline. The company has undertaken a massive overhaul of its Holiday Inn brand across the globe.