The hotel giants are reluctant to wait to grow through new construction. They're instead speeding along by rebranding existing buildings. In IHG's case, it means out with the old, in with the "Holiday Inn — the Niu."
Hilton CEO Christopher Nassetta led the pack among hotel executives with a total compensation of $56.8 million in 2023, followed closely by Hyatt's Mark Hoplamazian at $56.4 million and Marriott's Anthony Capuano at $55.5 million.
The franchise model allows for rapid expansion and scalability, which is particularly helpful for a market like China, where the demand for accommodations is high.
IHG Hotels & Resorts unveiled new prototype options for Staybridge Suites, Candlewood Suites, and Atwell Suites, set to roll out by Q2 2024 and debut in properties as early as 2025.
As the Indian traveler drives demand to lesser explored domestic destinations, major brands are finding opportunities to grow in the Indian hinterlands.