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InterContinental Hotels Group (IHG) has announced today, October 23, a joint venture with All Nippon Airways (ANA) to manage the airline”s Japanese hotel portfolio. Having beaten the competition from major hotel groups Marriott and Hilton, IHG will invest ”8m ($15m) for a majority stake in the project, which is expected to be finalised in December 2006.
Under the name IHG ANA Hotels Group Japan, InterContinental will manage ANA”s 13 owned and leased hotels, adding to the 11 hotels the company currently operates in Japan. These hotels will be re-branded under the three co-brands: ANA-InterContinental, ANA-Crowne Plaza and ANA-Holiday Inn.
The partnership will continue to operate ANA”s 18 Japanese hotels that are under management contracts, franchise agreements or marketing referral agreements for third party owners. As soon as the deal completes for ANA”s owned property, IHG will contact the third party owners to suggest co-branding.
A spokesperson for IHG explained the company”s plans for major expansion in Asia: ”Only 90 of Japan”s hotels are owned by major hotel chains, which means there is a huge potential to develop the IHG brand. There are also plans for expansion in China, where we currently operate 54 hotels. We expect to reach 125 by 2008.”