Ikea looks to enter hotel space

Budget furniture retailer Ikea wants to develop at least 100 budget hotels across Europe, according to published reports.

Inter Ikea, which owns Ikea’s intellectual property rights, is looking to build “budget design” hotels in markets including the United Kingdom, the Netherlands, Poland and Germany. The hotels will be run by an established hotel operator and will not feature the Ikea name.

The first location for the new concept, in Germany, is expected to be announced within a few weeks.