IHG and SAMHI pace towards expansion with pride
IHG® and SAMHI’s recent opening of Holiday Inn Express Hotels in India registers thumping success, says confident on the successful launch of other 4 properties to its portfolio.
InterContinental Hotels Group® (IHG) and SAMHI, in a recent statement, declared that their venture of launching 10 Holiday Inn Express hotels across Bengaluru, Hyderabad, Ahmedabad, Nashik, Pune and Chennai, including the first rebranded Holiday Inn Express hotel in Gurgaon Sector 50, has registered commercial success.
Commenting on their profitable venture, Pascal Gauvin, Managing Director, IMEA, IHG shared, “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.
The association between IHG and SAMHI dates back in November 2017, which saw the signing of 14 hotels within their India hotel portfolio to renovate and rebrand Holiday Inn Express at par with the global brand standards. Talking about their successful association, Gauvin said, “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.”
The entire exercise of renovating 10 hotels at global standards was undertaken at a cost of INR 100 crore. Shedding details about the partnership and cost incurred Ashish Jakhanwala, Founder, MD & CEO, SAMHI said, “In terms of a partnership, IHG has trusted us with one of their most recognized brands and to operating the hotel to the highest brand standards, profitably. I can say following, an INR 100 crore investment on renovation (550 crore 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.”
With the recent commercial success of 10 properties, the brand is now confident on launching the remaining four hotels in the portfolio. Besides, it has announced to add more Holiday Inn Express hotels to the portfolio across Tier 1 and Tier 2 cities and also has a strong pipeline of 39 hotels due to open in the next 2-3 years.