InterContinental Hotels Wants to Buy Luxury Brands
Skift Take
Under previous CEO Richard Solomons, IHG had looked to fill "white space" in its portfolio and it looks like this plan is continuing under his successor. Despite having a well-established luxury brand, the area is something of a weak spot for the company, with no true high-end offering. It sounds like IHG is well on the way to rectifying this.
InterContinental Hotels Group (IHG) is planning to buy a luxury hotel brand as part of a wider strategy to boost its presence in the segment.
IHG had previously hinted at growth and is now targeting one or two deals, having already held some preliminary discussions.
Rather than building a brand from scratch or buying a well-established company, CEO Keith Barr said the IHG would take a different approach.
“We are very focused on the sweet spot of acquiring an asset light, small luxury brand company or companies with a strong customer proposition, [and] strong owner proposition that we can grow,â
