to Attract African-American, Hispanic and Native
American Entrepreneurs to Hotel Industry;
Reduces the Initial Application Fee to $10,000
|ATLANTA, June 28, 2004 - InterContinental Hotels Group (LON: IHG) (NYSE:
IHG) (ADRs), has announced a new incentive plan to attract African-American,
Hispanic and Native American developers to its already diverse family of
owners and operators of InterContinental Hotels & Resorts, Crowne Plaza,
Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites
branded hotels in the U.S.
"While African-American, Hispanic and Native American entrepreneurs have been active in franchising, they have been less so in the hotel industry. Our industry and our company have many wonderful benefits and opportunities, and we seek to broaden this understanding and attract greater minority ownership through an ambitious program of education, training and financial support. Our Franchise Development Program will make it easier for African-American, Hispanic and Native American applicants to own and operate an InterContinental Hotels Group branded hotel," said Jerome Miller, vice president and chief diversity officer, Diversity and Inclusion, IHG.
Under the program, IHG will reduce the initial application fee to $10,000 and allow the property to retain usual royalty fees of five percent for the hotel's first 12 months. Plus, an IHG affiliate will provide hotel operations training on-site and operations mentoring for six months following the hotel's opening. The company will also provide management training to the hotel operator at no additional cost. To qualify under this program, the applicant entity must be majority owned and controlled by one or more African-American, Hispanic or Native American persons and meet all other franchise criteria. The terms of the program are disclosed in the uniform franchise offering circular for each of IHG's brands.
InterContinental Hotels Group
Minority Incentive Franchise Development Program
Diversity and Inclusion office
Web Site: http://www.ichotelsgroup.com
|Also See:||African-Americans, Hispanics and Native Americans May Receive Up to $200,000 Incentive for Developing a Choice-branded Hotel / July 2002|
|Summerfield Suites Waiving Franchise Fees and Discounting Royalty Fees to Spur Growth / March 2003|
|To Stimulate Brand Growth Econo Lodge Offering Up to $25,000 in Incentives for Conversion Properties / Aug 2003|