CHINA IHG has announced plans to launch a new upper-midscale hotel brand in China by the end of this year.
The brand will be positioned between Crowne Plaza and InterContinental, but few other details have been disclosed, including the brand’s name. IHG Chairman and CEO Andy Cosslett made the announcement during a press conference to discuss the company’s fourth quarter earnings, according to a report in The Wall Street Journal.
IHG projects that China will overtake the United States as the world’s biggest hotel market by 2025.