IHG Hotels & Resorts has entered a master development agreement with property developer ALAND to introduce its Staybridge Suites brand to Australia.
Under the deal, Aland will hold exclusive development rights for the brand in the country.
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The planned portfolio will include at least 15 hotels and a minimum of 2,000 rooms across Australia.
According to a company statement, the agreement expands the existing relationship between IHG and Aland and provides a “long-term development pathway” for Staybridge Suites in the Australian market.
The companies have also signed franchise agreements covering two properties: a 130-room Staybridge Suites Sydney Parramatta and a 112-room Staybridge Suites Sydney Leppington.
Signature Hotel Management Group will manage both properties.
The Parramatta and Leppington hotels will make up the first stage of the planned national portfolio.
This development also follows the opening of the 130-room voco Gosford in Aland’s Archibald precinct.
IHG Hotels & Resorts Australasia and Pacific managing director Matt Tripolone said: “This is a significant long-term development agreement for IHG in Australia.
“Establishing a portfolio of at least 15 hotels and 2,000 rooms with one development partner gives us a clear pathway to build a meaningful position in the extended-stay segment, where we see considerable long-term opportunity.
“Importantly, this is not simply an agreement about future growth. We are announcing the first two Staybridge Suites hotels in Parramatta and Leppington from the outset, giving the portfolio immediate momentum in two important Western Sydney growth markets.
“Aland has substantial development capability and ambition, and we share a clear vision for the opportunity ahead. Bringing that alignment together with IHG’s brands, distribution and enterprise gives us a strong foundation to grow the partnership over the long term.”
Recently, IHG opened the Crowne Plaza Manhattan Times Square flagship in New York.
