InterContinental Hotels (IHG) said Friday it plans to increase its presence in India to launch development of and open 400 hotels within the next five years.
The company, with more than 50 hotels operating and 80 in development, with nearly 12,000 rooms, said it is set to triple its India footprint over the next five years.
The company has opened or agreed to open hotels in India across eight brands including Six Senses, InterContinental, Crowne Plaza, voco, Holiday Inn, Holiday Inn Express, Garner, and Staybridge Suites.
Shares of the company were up 2.2% in recent premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments