IHG Targets India as Top Five Global Market Within Years
IHG expects India to become a top-five market as it targets 400 local properties. Global chains like Hyatt and Hilton are also scaling up their presence.
The United Kingdom-based InterContinental Hotels Group (IHG) expects India to become one of its top five global markets within a few years as international hospitality chains accelerate their expansion across the world's most populous nation. Sudeep Jain, managing director for South West Asia at IHG, highlighted the strategic importance of the region at an industry conference in Goa. > "It is like a game-changer. Its an infinite market in a sense," IHG, which operates brands such as Holiday Inn and Avid Hotels, currently maintains a portfolio of approximately 50 hotels in the country with 80 more in development. The group aims to expand its total presence to over 400 properties within five years. Globally, IHG manages more than 6,900 hotels, with the majority of its operations located in the Americas. The regional hospitality sector is forecast to grow significantly, potentially reaching $55.7 billion by 2031 from $23.5 billion in 2025. This expansion is driven by population growth, urbanization, and increasing demand from various consumer segments. Other major global players are also increasing their investments. Hilton Worldwide Holdings Inc. has announced plans to quadruple its room pipeline, while Hyatt Hotels intends to quintuple its footprint over the next five years. Senior executives from ACCOR SA and Wyndham Hotels & Resorts, Inc. also identified the nation as a priority market. Despite the growth, IHG is not currently planning a local stock market listing. This stands in contrast to recent moves by firms from South Korea, where LG Electronics Inc. and Hyundai Motor Company have pursued initial public offerings for their local units.
