What's Happening?
IHG Hotels & Resorts has signed a management agreement to develop two new hotels in Bengaluru, India. The agreement involves the Crowne Plaza Bengaluru KIADB Aerospace Park and the Holiday Inn Express Bengaluru KIADB Aerospace Park, collectively adding over 420 rooms to IHG's portfolio by early 2028. These hotels will be located in Bengaluru's KIADB Aerospace Park, a significant industrial and aerospace hub near Kempegowda International Airport. The development is expected to attract demand from aerospace and technology companies, as well as Global Capability Centres and other corporate entities. Additionally, the proximity to the upcoming BCCI Centre of Excellence and National Cricket Academy, along with nearby residential and commercial developments, is anticipated to drive demand from social, leisure, and MICE segments.
Why It's Important?
The expansion of IHG's portfolio in Bengaluru signifies the company's strategic growth in India, a market with increasing demand for hospitality services due to its burgeoning technology and aerospace sectors. This development is poised to enhance IHG's competitive edge in the region, catering to both business and leisure travelers. The new hotels will provide essential amenities and extensive meeting spaces, aligning with the needs of corporate clients and event organizers. This move is likely to bolster IHG's presence in India, where it currently operates 51 hotels across six brands, with plans to open 72 additional hotels in the next three to five years.
What's Next?
The hotels are scheduled to open in the first quarter of 2028, with construction and development activities expected to commence soon. IHG will likely focus on marketing these new properties to attract bookings from corporate clients and leisure travelers. The company may also explore further expansion opportunities in other Indian cities, leveraging its growing brand recognition and market presence.
