IHG signs 1,400 rooms - China
InterContinental Hotels Group PLC
24 February 2006
INTERCONTINENTAL HOTELS GROUP SIGNS 1,400 ROOMS IN CHINA
London, 24 February 2006 - InterContinental Hotels Group ("IHG") today announced
the signing of four new management contracts with Shanghai Greenland Group, one
of the top three real estate and property management companies in China. The
deals include an InterContinental hotel in Nanjing which will be the world's
tallest hotel, one Holiday Inn property in Xi'an and two Express by Holiday Inn
hotels in Shanghai, representing a total of more than 1,400 rooms. Combined with
the recent 4,500 rooms signed in Sichuan on February 15th IHG has now signed
almost 6,000 rooms in China in the last 2 weeks.
Andrew Cosslett, Chief Executive, IHG, stated, "This latest signing with
Greenland Group comes hot on the heels of our landmark six-hotel signing in
Sichuan with the Chengdu International Exhibition & Convention Group. These
back-to-back multiple-property deals with China's leading property developers
illustrate our owners' and partners' trust and confidence in us and cement our
position as the leading international hotel company in China. We are extremely
optimistic about the outlook for the region."
Added Edmond Ip, IHG's chief operating officer for North Asia, "This is an
exciting time for us. We are sustaining strong growth in China and have been
given the opportunity to work with some of the largest and most respected
partners in the country. Shanghai Greenland Group is among the top three real
estate conglomerates in China and our partnership with them, on multiple
properties and hotel brands, is a great honour that reflects their confidence in
our ability to deliver exceptional business results."
Zhang Yu Liang, president, Shanghai Greenland Group, said: "The Greenland Group
is in the midst of a nation-wide expansion and we have great confidence in our
cooperation with IHG. Their understanding of the Chinese market, consistently
strong growth and broad portfolio of brands catering to different market
segments makes them the ideal hotel partner for our newest and most impressive
developments."
For further information, please contact:
Investor Relations (Gavin Flynn, Paul Edgecliffe-Johnson): +44 (0) 1753 410 176
+44 (0) 7808 098 972
Media Enquiries (Leslie McGibbon): +44 (0) 1753 410 425
+44 (0) 7808 094 471
Detailed notes
1. The scheduled openings will comprise the following hotels:
In Nanjing, the gateway to southeastern China and a historic city that is today
one of the fastest-developing in Asia Pacific:
• InterContinental Nanjing, a 450-room luxury hotel located within the
proposed Nanjing International Financial Center, which will be the world's
tallest hotel. The hotel will offer top-notch conference and business
facilities, three food and beverage outlets, spa and pool. Scheduled to open in
2010.
In Xi'an, a prosperous and rapidly growing city that is home to the famous
Terracotta Warriors:
• Holiday Inn Greenland Xi'an, a 380-room mid-scale hotel located in the
proposed RMB 3 billion (US$ 361 million) Xi'an Hi-tech Development Zone, approximately
five kilometers from the city centre. Facilities will include extensive meeting
facilities, a range of food and beverage outlets, health club and pool.
Scheduled to open in 2007.
In Putuo and Minghang, two of Shanghai's newest industrial and commercial
districts, which attract international companies in the high-tech, light
industrial and logistics sectors:
• Express by Holiday Inn Putuo Shanghai, a 230-room convenience-sector
hotel located close to the express city train station and a major shopping mall.
Scheduled to open in late 2006.
• Express by Holiday Inn Minghang Shanghai, a 350-room
convenience-sector hotel in the newly-developed Minghang residential district
west of Shanghai. Scheduled to open in early 2007.
2. Shanghai Greenland Group: Since embarking on its nation-wide strategy in
2001, Shanghai Greenland Group has developed successful properties in numerous
cities across China, including Nanchang, Hefei, Changchun, Nanjing, Chengdu, and
Xi'an. Headquartered in Shanghai, the Group has received the coveted "A" rating
from the Ministry of Construction and is widely regarded as a leader in real
estate market research, design and development.
Note to Editors
InterContinental Hotels Group PLC of the United Kingdom (LON:IHG, NYSE:IHG
(ADRs)) is the world's largest hotel group by number of rooms. InterContinental
Hotels Group owns, manages, leases or franchises, through various subsidiaries,
almost 3,600 hotels and 539,000 guest rooms in nearly 100 countries and
territories around the world. The Group owns a portfolio of well recognised and
respected hotel brands including InterContinental(R) Hotels & Resorts, Crowne
Plaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts, Holiday Inn
Express(R), Staybridge Suites(R), Candlewood Suites(R) and Hotel IndigoTM, and
also manages the world's largest hotel loyalty programme, Priority Club(R)
Rewards.
Asia Pacific is the fastest growing region for InterContinental Hotels Group
worldwide. The Group's portfolio in this region includes more than 160 hotels
and over 45,000 guest rooms under the InterContinental(R) Hotels & Resorts,
Crowne Plaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts, and Express
by Holiday Inn(R) brands.
InterContinental Hotels Group offers information and online reservations for all
its hotel brands at www.ichotelsgroup.com and information for the Priority Club
Rewards programme at www.priorityclub.com.
For the latest news from InterContinental Hotels Group, visit our online Press
Office at www.ihgplc.com/media.
This information is provided by RNS
The company news service from the London Stock Exchange