IHG Signs Three Multiple Development Agreements to Add 50 Hotels in Europe
Main Photo: The Holiday Inn Berlin City East Side, a Tristar-owned IHG hotel
Date: October 2019
Locations and Names: Europe, including new Avid hotels in Germany and voco hotels across Germany, Austria, Switzerland, Belgium and the Netherlands.
No. of Keys: TBA
Partners: IHG has signed three multiple development agreements to accelerate its European growth. The aim is to add 50 properties under the deals, over the next decade.
MDAs with Success Hotel Group and Tristar will focus on adding 40 hotels in German speaking markets. A third deal with PREM Hospitality will grow brand presence in Belgium and the Netherlands.
Success Hotel Group headed up by Michael Friedrich, CEO and Thomas Leib, chief acquisition officer; Martin Bowen, head of development, DACH and Mario Maxeiner, managing director, Northern Europe of IHG.
Under the structure of the MDAs, the specific hotel properties and locations will be finalised and signed over the next 10 years. IHG also signed a Holiday Inn for Barcelona and two Holiday Inn Express hotels for Munich-Eching and Antwerp.
Two of the three MDAs, signed with Success Hotel Group and Tristar, will deliver up to 40 hotels to German-speaking markets over the next five to 10 years. The Success Hotel Group MDA will deliver 20 hotels while the Tristar agreement extends an existing MDA by 20 hotels to 50 properties in total. Tristar and IHG also signed the first hotel under the new agreement extension – the Holiday Inn Express Munich-Eching.
IHG also will increase its footprint in Belgium and the Netherlands, having signed a new MDA agreement with long-standing partner Prem Hospitality. The Irish hospitality management company sees Belgium and the Netherlands as a strategic hub for its expansion of short- and long-stay locations across continental Europe.
The partnership will add 10 to 15 hotels in the region, focusing on the Holiday Inn, Holiday Inn Express, Hotel Indigo, Crowne Plaza and Voco brands. IHG and Prem already have signed the first hotel under the new agreement, a Holiday Inn Express in Antwerp, Belgium.
IHG also signed a deal to open a Holiday Inn close to Barcelona, with long-standing MDA partner Novum Hospitality. The hotel, slated to open in 2023, will be developed by Europa-Center.
THPT Comment: OK this is serious stuff for both parties…well done all! IHG has more than 750 hotels across Europe, 167 of which are in Northern Europe, with 86 properties in the pipeline as of June.
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