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InterContinental Still Bullish on China Hotels After Officials Cut Travel Spend

Bonnie Cao

Photo Credit: Laterns hung at the Crowne Plaza Hotel located in Sanya, China.  Flickr / Toine Rooijmans

Skift Take

The impact of a Chinese government clampdown on luxury travel spend isn't expected to impact IHG in the long term as it gears up to build up to 170 new hotels over an unspecified period of time.

InterContinental Hotels Group Plc, the world’s largest provider of hotel accommodation, plans to open “at least the same” number of hotels in China next year as 2013, even as growth in room revenue slows. The hotel operator, which also runs the Holiday Inn and Crowne Plaza brands in Greater China, opened 17 hotels this year to the end of the third quarter in China, Hong Kong, Macau and Taiwan, which together are its second-largest market outside the U.S., said Chief Executive Officer Richard Solomons. Ch

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