In a concerted endeavor to strengthen its South American
Intercontinental Hotels Group plc
) unveiled a 122-room Holiday Inn branded property in association
with BPO Asesores Empresariales S.A. in Guayaquil, Ecuador. The
property marks the second IHG-branded hotel in the country, the
first being Holiday Inn Express Quito.
Intercontinental, the world's largest hotel group by number of
rooms, also plans to open a Holiday Inn Quito Airport hotel in
2016. Intercontinental introduced its economy brand, Holiday Inn
in the U.S. in 1952. The brand, previously renowned as a motel
chain, belongs to the upper-moderate tier and comprises
small-to-mid sized properties. Intercontinental presently boasts
42 Holiday Inn hotels and Holiday Inn Express hotels throughout
Latin America and the Caribbean.
Of late, Ecuador has attracted the attention of several hoteliers
owing to its emerging market status. The city of Guayaquil where
the recently opened property is located serves as Ecuador's main
port, business center and home to several prime business
Guayaquil is also a commercial, financial and cultural hub and
there are several manufacturing industries based in the
city. Apart from Intercontinental,
Wyndham Worldwide Corp.
) also recently opened a 179-room hotel in Guayaquil.
Starwood Hotels & Resorts Worldwide Inc.
) has a Sheraton and
Marriott International Inc.
) has a Courtyard by Marriott Hotel in Guayaquil.
Coming back to Intercontinental's latest property, it is
strategically positioned in close proximity to the city's
convention center, shopping venues as well as international
airport and is expected to cater to both leisure and business
InterContinental has proven brand equity in Latin America. It has
been operating in the region for about 65 years and has more than
190 hotels in Mexico, Central and South America and the
Caribbean. We believe the new property will strengthen its brand
presence in the region as well as align with its growth
STARWOOD HOTELS (HOT): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
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