New Delhi, 28 July 2014: InterContinental Hotels Group (IHG) has signed a management agreement with New Delhi real estate developer Sikka to develop Crowne Plaza Taj Expressway Noida. This is part of Sikka’s master plan to develop more than 7 million square feet of real estate in the northern part of the country, spanning 12 projects across different cities.
The 150-room hotel will be a part of "The Downtown" development in Sector 98 Noida, a mixed-use development which also comprises corporate offices and retail spaces. Strategically located in close proximity to the Noida Golf Course Sector-34 whilst conveniently situated just 10 minutes from the popular Atta Market, the hotel boosts convenience for corporate and leisure travellers alike.
The newly-signed hotel will add to IHG’s strong pipeline of Crowne Plaza properties in the country. IHG has seven Crowne Plaza hotels open across India and another six due to open in the next three to five years. The new hotel, expected to open in 2018, will be the second IHG hotel in the city, joining Crowne Plaza Greater Noida which opened at the end of last year.
Commenting on the partnership, Gurneet Singh Sikka, Managing Director, Sikka said “Hospitality is an important business vertical of Sikka and we are working on strengthening this expertise. IHG is an ideal partner for us as the company brings with it many years of international hotel management experience with leading global brands such as Crowne Plaza. This will complement our local business knowledge and add to our success.”
Pascal Gauvin, Chief Operating Officer, India, Middle East and Africa, IHG commented, "India is a key market for us. It holds our third largest development pipeline globally, behind the US and China and over the next three to five years we will grow by nearly 300 percent there. The new Crowne Plaza Taj Expressway Noidamarks our expansion in a city we've just entered and we look forward to working with Sikka to growing our presence in Noida."
IHG currently has 19 hotels in India across four brands: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express. There are 46 hotels in the development pipeline, of which six are Crowne Plaza properties due to open in the next three to five years.
Notes to Editors:
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of nine hotel brands, including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites®, EVEN™ Hotels and HUALUXE® Hotels and Resorts.
IHG manages IHG® Rewards Club, the world's first and largest hotel loyalty programme with nearly 79 million members worldwide. The programme was relaunched in July 2013, offering enhanced benefits for members including free internet across all hotels, globally.
IHG franchises, leases, manages or owns over 4,700 hotels and 688,000 guest rooms in nearly 100 countries and territories, with more than 1,100 hotels in its development pipeline.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales.