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September 2022, Virtual
September 29 2022, Virtual
Intercontinental Hotels Group (IHG) has signed a deal to open 15 hotels in Germany under its new mid-scale brand Avid.
IHG says the German market is a priority for the group, with 122 hotels already open or in the pipeline.
The Avid hotels are part of a multiple development agreement (MDA) with existing partner GS Star GmbH.
IHG launched the Avid brand in September 2017, with the first property opening in Oklahoma City in the US in August this year.
Under the deal, properties will be signed within three years and opened within five. The first new-build Avid hotel is planned to open by 2020.
Kenneth Macpherson, CEO for Europe, Middle East, Asia and Africa at IHG, said: “Avid hotels has seen strong signings in the US, Canada and Mexico, making it IHG’s most successful new brand launch since Holiday Inn Express back in 1990. We are now excited to bring Avid hotels to Germany where our proactive development approach has delivered exceptional growth in recent years. GS Star is the ideal launch partner; with a strong track record in mainstream growth opportunities they are well placed to introduce this new, exciting brand to our guests in Germany.”
Andreas Erben from GS Star added: “We are delighted to be the first to market in Europe with this new brand from IHG, which has the potential to be a strong mainstream growth vehicle.”