IHG CEO: our focus is on building up the brands we have
At a time when other global hotel companies are adding new brands, InterContinental Hotels Group is focused on working with the brands it already has.
At a time when other global hotel companies are adding new brands (like Hilton) or contending with a portfolio of 30 brands (like Marriott), InterContinental Hotels Group (IHG) is focused on working with the brands it already has, as well as making sure the consistency and quality of all its hotels are up to par.
During the company’s fourth quarter 2016 earnings calls on February 21, CEO Richard Solomons noted that although the company’s unit growth may be a bit lower than its peers, that’s primarily because the company is cleaning up its portfolio of properties, especially in the Americas, removing hotels that don’t meet its brand standards.
Year-over-year net room growth, compared to 2015, was 1.8 percent in the Americas; 3.1 percent in Europe; 4.8 percent in Asia, Middle East, and Africa; and 8.8 percent in Greater China. Global net room growth for IHG was 3.1 percent. Global net room growth for Hilton year-over year, by comparison, was 6.6 percent.
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