IHG Hotels & Resorts has achieved a milestone of opening 1,012 hotels in the Asia Pacific region in 2023, including prominent openings across various brands like Holiday Inn, InterContinental, Regent, Hotel Indigo, and others.
The Asia Pacific region is expected to experience significant growth in passenger traffic, driven by relaxed travel arrangements such as visa-waiver agreements, new flight routes, and airlines, leading to increased demand for hotel stays.
IHG has 705 hotels in the pipeline across 13 brands in 22 countries in the region, with plans to expand further into upcoming destinations like Halong Bay, Nagasaki, and Penang to cater to the growing demand for travel experiences.
The region is also witnessing a surge in business travel bookings, with APAC contributing a significant portion of global business travel spend and expected to reach US$800bn by 2027, including the return of large conferences and events like the World Business Forum in Singapore. Industry forecasts show a robust construction pipeline in the hospitality sector across the region.
