IHG Signs Master Development Agreement With Valor Hospitality Partners Africa for Multiple Franchise Hotels
April 17, 2019 1:51pm
InterContinental Hotels Group (IHG®), one of the world’s leading hotel companies, has signed a Master Development Agreement with Valor Hospitality Partners Africa to roll out multiple franchise hotels over the next 10 years, across IHG’s portfolio of brands in midscale, upscale and luxury segments. The agreement will see IHG expand its presence in Sub-Saharan Africa, including key countries such as South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya. The development adds to IHG’s growing pipeline in the Middle East and Africa and cements its position as one of the leading operators in the region.
Valor Hospitality Partners Africa is a subsidiary of Valor Hospitality Partners Global that manages and asset manages projects across America, the UK, Middle East, South Africa and South East Asia. IHG currently operate hotels with Valor Hospitality Partners in America and the UK.
Speaking on the announcement, Pascal Gauvin, Managing Director, India, Middle East and Africa, IHG said: “Valor has been our long-term partner in America and the UK for many years and we are pleased to be building our network with an experienced existing operating partner in new markets. This signing is in line with our growth ambition in the region and will add approximately 1000 rooms to our portfolio in the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments. This will allow us to cater to the increasing number of diverse domestic and international travellers looking for quality branded accommodation in Africa.”
He added: We currently have 26 operating hotels across eight countries in Africa, and we are looking at expanding our presence further by close to 40%, in 3-5 years.
Graham Wood, Managing Director of Valor Hospitality Partners Africa added: “We are thrilled to further strengthen our partnership with a global hospitality leader such as IHG® and expand our portfolio in Africa with their well-established brands that are loved by travellers across the world. We have consistently benefitted from IHG’s global distribution system in the Americas and the UK, best in class revenue management tools, and their commitment to deliver commercial success in partnership with their owners. With the new brands IHG have added in recent months, this agreement presents us with a unique opportunity to provide a range of high-quality branded accommodation options to suit the evolving needs of guests travelling to Africa.”
IHG® currently operates 26 hotels across four brands including InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn®, and Holiday Inn Express ®, in Africa.
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IHG ® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including Regent Hotels & Resorts, InterContinental®Hotels & Resorts, Kimpton® Hotels & Restaurants, Hotel Indigo®, EVEN® Hotels, HUALUXE®Hotels and Resorts, Crowne Plaza® Hotels & Resorts, voco™ Hotels, Holiday Inn®, Holiday Inn Express®, Holiday Inn Club Vacations®, Holiday Inn Resort®, avid® hotels, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns more than 5,500 hotels and approximately 826,000 guest rooms in almost 100 countries, with more than 1,800 hotels in its development pipeline. IHG also manages IHG® Rewards Club, our global loyalty programme, which has more than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales. More than 375,000 people work across IHG's hotels and corporate offices globally.
Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.ihgplc.com/media and follow us on social media at: www.twitter.com/ihg and www.facebook.com/ihg.
Contact: Ankita Chopra
+971 4 213 6043
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