IHG announces expansion plans in South-East Asia

8th March 2012 (Last Updated March 8th, 2012 18:30)

InterContinental Hotels Group (IHG) has announced plans to double the number of properties it manages in South-East Asia in three years.

InterContinental Hotels Group (IHG) has announced plans to double the number of properties it manages in South-East Asia in three years.

The expansion plan is intended to address growing demand from tourists and business travellers.

IHG chief operating officer for Asia and Australasia Clarence Tan told Bloomberg the company currently has 37 hotels in South-East Asia and plans to triple the number of properties in Vietnam to nine and double locations in Singapore to eight.

Over the next five years, the company also plans to double its managed hotels in Thailand and Indonesia to 24 and 14 hotels, respectively.

The group, which opened a Crowne Plaza hotel in Semarang, Indonesia, in January 2012, plans to increase its presence in Vietnam with the signing of two Holiday Inn resorts.

IHG also expects growth in demand for accommodation on the resort islands of Phuket, Phi-Phi and Krabi in Thailand.

According to London-based research firm STR Global, revenue per available room in the industry increased by 9.8% last year in the Asia-Pacific region.