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IHG and SAMHI announce commercial success following opening of 10 Holiday Inn Express hotels in India

Wednesday, April 10, 2019, 11:55 Hrs  [IST]
Asmita Mukherjee | Mumbai

InterContinental Hotels Group (IHG), India’s premier lodging real-estate company,  SAMHI celebrated the commercial success of their partnership at HICSA  (Hotel Investment Conference South Asia), following the launch of 10 Holiday Inn Express hotels in the country. 
At a press conference held at HICSA, SAMHI announced that the brand is planning to invest INR 100 crore in the renivation of the 10 hotels to deliver a best in class product in India. 

Ashish Jakhanwala, Founder, MD & CEO, SAMHI added, “In terms of a partnership, IHG has trusted us with one of their most recognised brands and to operating the hotel to the highest brand standards, profitably. Our end of the partnership was to deliver a truly best in class product that met the highest brand standards. I can say following, an INR 100cr investment on renovation (550cr on the acquisition of the Holiday Inn portfolio). We have conducted one of the largest rebranding exercises in the Indian hospitality industry. Moreover, we have delivered and exceeded expectations. Today, our repeat guests who have seen the hotel before and after the renovation are taken aback by the high quality and upgraded experience of the new product and they have noticed that the hotel clientele has changed drastically as well.

Not only do we remain confident about opening the remaining four hotels in the portfolio but also add more Holiday Inn Express hotels to the portfolio across tier I and tier II cities.”

Commenting on the success, Pascal Gauvin, Managing Director, IMEA, IHG shared, “We are pleased to announce that the newly launched hotels are currently trading at an ADR of INR 3254, and Holiday Inn Express Gurgaon Sector 50 which has been open for six months is operating at 21% above the forecasted RevPAR. These numbers are very encouraging and give us confidence in the continued success of the portfolio. 
Our partnership with SAMHI and launch of the new Holiday Inn Express portfolio has given us a solid foothold in the midscale hotel segment in India. With the recent openings, we now have 27 operating hotels under the Holiday Inn brand family in the country, and a robust pipeline of 33 hotels due to open in next 2-3 years. Through this venture, we have realised that in a market like India, it is imperative to forge partnerships with partners such as SAMHI. Together we will continue to contribute by building a robust hospitality market in the country.”

In November 2017, IHG started its journey with SAMHI with the signing of 14 hotels within their India hotel portfolio to renovate and rebrand to Holiday Inn Express on par with the global brand standards. September 2018 witnessed the launch of first rebranded Holiday Inn Express hotel in Gurgaon Sector 50. In the following next six months, total of 10 properties were launched across Bengaluru, Hyderabad, Ahmedabad, Nashik, Pune and Chennai. 

IHG currently has 39 hotels operating across four brands in India, including InterContinental Hotels and Resorts, Crowne Plaza, Holiday Inn, and Holiday Inn Express, and a strong pipeline of 39 hotels due to open in the next 2-3 years. 

 
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