Seven Decades of Standard Setting: IHG Hotels & Resorts Reinforces Strength across its Midscale Portfolio
March 19, 2024
ATLANTA — IHG Hotels & Resorts (IHG) is showcasing its leadership in the midscale segment at the annual HUNTER Hotel Investment Conference, highlighting a year of significant growth and strategic expansion in this key market segment. With more than 150 openings and over 300 signings worldwide for its midscale brands in 2023, IHG reaffirms its commitment to driving development and delivering exceptional guest experiences across its portfolio.
The surge in growth for IHG’s midscale brands reflects the increasing interest among owners and guests in this segment, which STR forecasts will continue to expand significantly, reaching $18 billion in revenue by 2030 in the U.S. alone. IHG’s midscale brand portfolio, now comprising six brands and over 4,400 open or pipeline hotels in the Americas, is well-positioned to capitalize on this growth trend. These brands include Holiday Inn, Holiday Inn Express, Candlewood Suites, avid hotels, Atwell Suites, and the newly introduced Garner hotels.
Jolyon Bulley, CEO — Americas, IHG Hotels & Resorts, commented: “As the midscale space becomes more attractive and competitive, we continue to leverage guest and owner feedback to grow and evolve our brands. Our six midscale brands have grown to represent more than 80 percent of our system size in the Americas by remaining resilient and agile. With nearly 800 additional properties in the regional pipeline supported by IHG’s robust enterprise capabilities, we look forward to extending our reach across new markets and generations of travelers.”
IHG’s midscale brands are built on core principles such as offering high-quality experiences at affordable price points, focusing on guest preferences, smart design, and clear brand identities. Each brand within the portfolio has demonstrated remarkable growth and innovation in response to evolving guest expectations.
Key Highlights from IHG’s Midscale Brand Portfolio:
- Holiday Inn: Introducing a new premium breakfast program and innovative H5 prototype design near Chicago’s O’Hare Airport, Holiday Inn continues to expand its presence with recent openings in Dallas, Philadelphia, Jalisco, Mexico, and Canada’s Vancouver Island.
- Holiday Inn Express: Known for its “simple, smart travel” premise, Holiday Inn Express has extended its reach to more than 50 countries, with significant regional signings and openings in major U.S. cities like Dallas, Atlanta, Austin, San Antonio, Phoenix, and Tampa.
- avid hotels: Celebrating its fifth anniversary, avid hotels made its debut in New York City and is set to triple its Americas estate with planned additions across the U.S., Mexico, and Canada. Notable openings in 2023 include market debuts in Tulsa, Fort Worth, Austin, and Tuscaloosa.
- Garner hotels: Garner hotels opened its first three U.S. properties and aims to have more than 500 open hotels in the U.S. in the next decade. Global expansion plans include franchising in Mexico and Canada, with expansion into the EMEAA region underway.
- Candlewood Suites: With a focus on approachable design and home-like amenities, Candlewood Suites expanded its portfolio with 49 new signings in 2023, including openings in Salt Lake City, Atlanta, Houston, and Irving.
- Atwell Suites: Capitalizing on momentum from its 2022 debut, Atwell Suites added 16 new signings in the Americas, bringing its regional pipeline to 41 hotels. Recent openings in Austin, Miami, and Denver are complemented by forthcoming openings in Las Vegas, Henderson, and Fort Worth.
IHG’s continued investment and expansion in the midscale segment underscore its commitment to delivering exceptional value and experiences for guests while driving growth opportunities for owners and investors. Through strategic brand development and a focus on guest satisfaction, IHG is well-positioned to capture the growing demand in this dynamic market segment.