The addition of new hotel brands within the marketplace shows no sign of slowing down. Arguably, the pandemic has amplified the opportunities for new brands to emerge as tastes and travel habits change. As seems to be the case with IHG Hotels & Resorts, where the group has identified scope to capture conversions with the launch of its new luxury and lifestyle collection brand.
Yet to unveil a name for the new collection, IHG anticipates 100 hotel signings within the next 10 years. Whilst the ambition to increase market share is clear, IHG will be competing with the likes of Hilton, Marriott, Hyatt, and most recently Wyndham, which all operate a soft brand. Accor’s merger with Ennismore to create a new lifestyle hotel entity also rivals IHG as the battlefield for growth within this segment intensifies.
IHG will need to distinguish its value proposition in order to thrive. Positioning the collection at the upper end of the market may appeal to hotel owners on the grounds of attracting high-end, lucrative customers. From a guest perspective however, particularly IHG Rewards members, I suspect innovation will be necessary to remain relevant, compelling and ultimately different.
In the coming weeks, IHG will reveal further plans for the new brand.
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