InterContinental Hotels Group (IHG) is aiming to tap into the exploding Chinese travel market by launching an upscale hotel brand, called Hualuxe Hotels and Resorts, designed specifically for the Chinese traveller.
Hualuxe - translated from Hua, which means majestic China, and luxe, representing luxury - will help to meet growing consumer demand for a brand that reflects local traditions in China, where the hotel market is projected to grow by 5% to 8% annually until 2030. Domestic travellers in China are expected to reach 3.3 billion in 2015, while outbound trips from the country are forecast to grow from 10 million to more than 100 million in the next 10 to 15 years.
Richard Solomons, chief executive of IHG, said: "Building on our proven ability to build, develop and nurture brands, we are very proud to be launching Hualuxe Hotels and Resorts - a genuine first for the industry and a unique brand developed by our Chinese team that we know will resonate with the very important, fast-growing, Chinese consumer base.
"Hualuxe takes the best aspects of renowned Chinese hospitality and applies IHG's international scale, powerful systems and unparalleled insights into the Chinese market to deliver a traditional high-end consistent experience."
IHG - the first international hotel operator to enter China nearly 30 years ago - is currently the largest international hotel operator in China, with more than 160 hotels across 60 cities and sees the opportunity for this brand to be in over 100 cities across the country over the next 15 to 20 years. The first Hualuxe hotel is expected to open in late 2013 or early 2014.
By Janet Harmer
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