IHG looks east for future revenues

Hotel News - 14/03/2013

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Hotel conglomerate InterContinental Hotels Group is betting on Asia to account for a major portion of revenue in the future.

According to a Hospitality Biz article release on Wednesday, officials from the firm have predicted that Asian travellers will account for nearly a third of global travel revenue by 2020. The forecast comes following fresh research carried out in collaboration with The Futures Company, IHG officials said.

The report said that Chinese and Indian travellers will comprise the largest portion of the so-called “new global explorers” group. Experts say the demographic are high-spenders and often want to see heavily travelled attractions and regions.

IHG’s chief executive Richard Solomons said in a statement that the report reflects how the world is constantly changing and pinpoints the trends that are likely to occur over the next decade. He added that IHG is well positioned to take advantage of developing markets worldwide and that the company looks forward to the challenge of meeting guests’ expectations in new places.

Nearly half of the company’s future developments are to be located in Mainland China and other emerging markets, according to an official IHG press release.

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