- InterContinental Hotels (IHG) has signed three Multiple Development Agreements (MDAs) at the European real estate investment trade show Expo Real in Munich, Germany.
- Under the deal, IHG will develop over 50 hotels, including IHG’s new brands avid hotels in Germany and voco hotels, across Germany, Austria, Switzerland, Belgium and the Netherlands over the next 10 years.
- The group also signed a Holiday Inn for Barcelona, Spain and two Holiday Inn Express hotels for Munich-Eching and Antwerp, Belgium.
- IHG inked the deals with Tristar, Success Hotel Group, PREM Hospitality and Novum Hospitality.
- “MDAs are designed as a means to grow together with our Owners. So these agreements are a testament to the trusted relationships we have with our Owners and to the continued success story of our globally renowned brands such as Holiday Inn and Crowne Plaza. I am especially happy that our Owners and investors share our enthusiasm for our two newest brands in the market, voco Hotels and avid hotels in Germany. Both brands were developed with very distinct Owner and guest propositions to answer a specific need in the market and it’s really great to see them pick up pace,” Mario Maxeiner, Managing Director, Northern Europe, at IHG said.
- IHG inked a Master Development Agreement with Aleph Hospitality last month to develop 10 franchise hotels across its portfolio of brands in midscale and upscale segments. The agreement was signed at Africa Hotel Investment Forum in Addis Ababa, Ethiopia. The group has also taken over the management of Fiesta Resort Guam, Micronesia, in the Western Pacific, and will rebrand it as Crowne Plaza Resort Guam in early 2021 after an elaborate renovation.
PRESS RELEASE
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has today announced the signing of three MDAs at Europe’s largest real estate investment trade show Expo Real in Munich.
The deals will see the development of more than 50 hotels, including IHG’s new brands avid hotelsTM in Germany and vocoTM Hotels, across Germany, Austria, Switzerland, Belgium and the Netherlands. Under the structure of the MDAs the specific hotel brands and locations will be signed over the next 10 years. IHG also signed a Holiday Inn for Barcelona and two Holiday Inn Express hotels for Munich-Eching and Antwerp. All projects were signed with long-term partners Tristar, Success Hotel Group, PREM Hospitality and Novum Hospitality.
Mario Maxeiner, Managing Director, Northern Europe, at IHG said: “MDAs are designed as a means to grow together with our Owners. So these agreements are a testament to the trusted relationships we have with our Owners and to the continued success story of our globally renowned brands such as Holiday Inn and Crowne Plaza. I am especially happy that our Owners and investors share our enthusiasm for our two newest brands in the market, voco Hotels and avid hotels in Germany. Both brands were developed with very distinct Owner and guest propositions to answer a specific need in the market and it’s really great to see them pick up pace.”
MDA agreements drive strong growth in Germany, Austria and Switzerland
IHG’s latest MDAs will continue to build momentum for IHG’s mainstream and upscale brands in Northern Europe, particularly in Germany, Austria and Switzerland. Two of the three MDAs signed at Expo Real were signed with long-term partners Success Hotel Group and Tristar. Combined they will deliver up to 40 hotels to these German speaking markets over the next 5-10 years. Both agreements include hotels across the brands Holiday Inn, Holiday Inn Express, Hotel Indigo, Crowne Plaza and Staybridge Suites, as well as IHG’s new brands avid hotels and voco.
- The Success Hotel Group MDA will deliver 20 hotels.
- The Tristar agreement extends an existing MDA by 20 hotels (to 50 hotels in total). Tristar and IHG also signed the first hotel under the new agreement extension: the Holiday Inn Express Munich – Eching.
Strong owner interest in Belgium and the Netherlands
IHG will also further increase its footprint in Belgium and the Netherlands, having signed a new MDA agreement with long-standing partner PREM Hospitality. The Irish Hospitality Management company sees Belgium and the Netherlands as a strategic hub for its expansion of short-stay and long-stay locations across continental Europe and builds on the trusted relationship with IHG to further drive growth in those markets. The partnership will see the development of 10 – 15 hotels in the region, focusing on the brands Holiday Inn, Holiday Inn Express, Hotel Indigo, Crowne Plaza and voco. IHG and PREM also already signed the first hotel under the new agreement, paving the way for the construction of a new Holiday Inn Express in the heart of Antwerp in Belgium.
IHG and Novum Hospitality expand partnership to Barcelona, Spain
IHG’s third hotel signing at Expo Real will see the development of a Holiday Inn close to Barcelona, Spain, with long-standing MDA partner Novum Hospitality. Building on its well-established relationship with IHG in Germany, NOVUM Hospitality decided to partner with IHG for its expansion into the Spanish market. Located in the charming and historical town of Sant Cugat del Vallés just 30 minutes outside of Barcelona, the new hotel will feature more than 200 rooms and is set to open by the end of 2023. The hotel will be developed by EUROPA-CENTER.
IHG’s portfolio is one of the strongest in the Europe market place with more than 750 hotels, of which 167 are in Northern Europe, with 86 properties in the pipeline (As of 30 June 2019 (Half Year Results 2019) ). IHG’s Northern Europe region covers: Germany, Austria, Switzerland, Belgium, the Netherlands, Luxembourg, Czech Republic, Hungary, Poland, Slovakia, Norway, Denmark, Sweden, Finland and Iceland.
