IHG launches new upscale brand, voco
InterContinental Hotels Group (IHG) has launched voco, its new upscale hotel brand, alongside announcing a first signing in Australia. The brand will focus primarily on conversion opportunities and will strengthen IHG’s offer in the $40 billion upscale segment, which is expected to grow by a further $20 billion by 2025.
Working with high-quality individual and locally-branded hotels, this distinctive brand promises to offer owners the ability to drive higher returns through delivering a compelling guest experience and leveraging IHG’s inherent systems. This includes revenue management and technology capabilities and IHG Rewards Club loyalty programmes.
voco, inspired by the meaning ‘to invite’ or to ‘come together’ in Latin, will combine the informality and charm of an individual hotel, with the quality and reassurance of a global and respected brand. Its rollout will begin in IHG’s Europe, Middle East, Asia and Africa (EMEAA) region, with plans to take it to the Americas and Greater China over time. The new brand will drive significant incremental growth for IHG, with an expectation to open more than 200 voco hotels in urban and leisure locations over the next 10 years.
Keith Barr, CEO, IHG, said, “We’ve talked about the significant growth opportunity we see for IHG in upscale and voco will help us deliver against this. We will work with owners of attractive properties, who appreciate the power and expertise that a global business can bring to the table. The brand’s versatility means a voco hotel can retain and celebrate all of the elements that make that existing hotel successful. With voco, the recent addition of Regent Hotels & Resorts in the luxury space, the launch of avid hotels in the Americas, and the work we’re doing to enhance our existing brand portfolio, we’re making great progress with our ambitious plans to accelerate growth.”