According to a news report, InterContinental Hotels Group (IHG) announced that along with Duet India Hotels, they are set to launch 19 hotels across India in the next five years. The approximate investment was close to Rs. 1,300 crore.
As per the memorandum of understanding (MoU) between the two companies, the JV ‘Duet Smart Hotels India’ will invest Rs 1,300 crore for setting up the properties under the Holiday Inn Express brand across the country.
This is the fourth brand for IHG in India after the InterContinental, the Crowne Plaza and the Holiday Inn brands.
The first hotel under the Holiday Inn Express brand under the JV was opened today in Ahmedabad.
“The joint venture with Duet India Hotels is for setting up 19 hotels under the Holiday Inn Express brand in India,” InterContinental Hotels Group(IHG) South West Asia VP Operations Douglas Martell told the press.