InterContinental Hotels Group (IHG), the biggest worldwide hotel operator by room number, announced on Tuesday that they plan to launch a new brand in China, which is one of the world's quickest growing emerging markets. Chief executive Andrew Cosslett said that the chain, which hasn't been named yet, will be an upper mid-scale brand - somewhere between their upscale Crowne Plaza and luxury InterContinental chains. They are due to open the first location by the end of the year.
The hotel operator plans to more than double their operations in key emerging markets, which includes India and the Middle East as well. This comes as traveler numbers and global economic travel trends are boosted with booking holidays online, the use of cheap airlines and a rise in life expectancy.
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