InterContinental Hotels mulls adding luxury brands in Asia

Pic: InterContinental Hotels.

INTERCONTINENTAL HOTELS GROUP PLC CEO Richard Solomons said the group may add new luxury chains in fast-growing Asia, either by buying a competitor or developing its own brand.

“There’s clearly an opportunity to add another luxury brand or two, particularly in Asia,” Solomons told Bloomberg in early March.

Rising tourism numbers in Asia has hoteliers scrambling to exploit the trend. The United Nations World Tourism Organization released data showing that the Asia and Pacific region received 277 million international tourist arrivals in 2015 – an increase of 5 percent compared to the previous year.

“Paris, Rome, London, those are the sorts of markets we’re looking at,” Solomons said. Openings in Asia are also possible, he added.

With 128,000 rooms in the Asia-Pacific, InterContinental is its third largest hotel company by number of rooms. In this respect, it is topped only by Jin Jiang International Holdings Co. and Accor SA, according to data gathered by STR.