In a concerted endeavor to strengthen its Central American
Intercontinental Hotels Group plc
) is set to unveil two Holiday Inn branded properties in
Nicaragua and Honduras in association with Grupo AGRISAL's
operational arm, Latin American Hospitality Management S.A. The
two Holiday Inn Express hotels are due to be opened in 2014.
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 it comprises
small-to-mid sized full scale properties. Currently, Holiday Inn
boasts as many as 3,414 hotels across the world. Since its
opening, the brand has been gaining strong momentum.
Holiday Inn Express is a smaller prototype of the Holiday Inn
brand, primarily designed to serve business travelers.
Intercontinental currently owns 18 and 24 properties under
Holiday Inn Express and Holiday Inn brand, respectively, in the
Caribbean as well as Latin American region. Previously, the
company, through a partnership with Grupo AGRISAL developed four
properties in Central America.
This Zacks Rank #3 (Hold) company sees more opportunities for
the Holiday Inn brand in Central America which has a population
of around half a billion offering significant growth potential.
Several other hoteliers including
Wyndham Worldwide Corp.
Hyatt Hotels Corporation
Marriott International Inc.
) have also made their presence felt in the region.
The new Holiday Inn Express branded properties will be located
in Managua and Tegucigalpa, the capital of Nicaragua and
Honduras, respectively. The hotels' proximity to various famous
national and international organizations makes it a perfect fit
for businesses, administrative and financial activities. We
expect the strategic position, wide range of amenities offered at
both the 110-room hotels as well as its contemporary ambience to
create a strong guest base, going forward.
HYATT HOTELS CP (H): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
WYNDHAM WORLDWD (WYN): Free Stock Analysis
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