INTERCONTINENTAL Hotels Group is to step up its presence in China by recruiting over 110,000 employees in the country over the next two years and doubling the number of hotels.
Speaking ahead of an investor meeting yesterday chief executive Richard Solomons said the group was focusing its efforts on 10 key markets led by China and the US, which together are expected to generate over half of the hotel industry’s revenue growth by 2020.
IHG, which run brands including Crowne Plaza and Holiday Inn, has doubled the number of hotels in China in the last five years to 200 and has a further 180 in the development pipeline.
IHG’s Greater China chief executive Kenneth Macpherson said the growing middle class and the government’s heavy investment in infrastructure was boosting travel with outbound Chinese travellers expected to rise to 150m by 2020.
“It has been an interesting year with the new Chinese leadership now in place and the government taking measures to rebalance the economy to drive sustainable, robust economic growth. There will naturally be a period of adjustment over the shorter term, but we still remain confident in the outlook,” Macpherson said.