InterContinental Hotels Group to develop its Express by Holiday Inn brand in Spain
The InterContinental Hotels Group announced recently that it has concluded an 20-hotel franchise agreement with the British investment group Zinnia Hotels Properties Holdings to create 20 new Express by Holiday hotels in Spain.
According to information provided by the company, the 20 new Express by Holiday Inn hotels are to be set up over the next five years and will involve an investment sum by the investment group of 180 million euros.
The InterContinental Hotels Group's portfolio in Spain currently includes 15 Express by Holiday Inn hotels, including a new location at Madrid Airport which was officially opened in September 2007. The first of the 20 new hotels is, the company says, expected to open up towards the end of 2009 in the city of Bilbao.
The UK InterContinental Hotels Group is, it says, one of the world’s largest hotel groups by number of rooms. It owns, manages, leases or franchises, through various subsidiaries, over 3,800 hotels and more than 571,000 guest rooms in just under 100 countries around the world. The Group owns a number of brands including InterContinental hotels & resorts, Crowne Plaza hotels & resorts and the Holiday Inn hotels and resorts.