Skift Take
The hotel giants are reluctant to wait to grow through new construction. They're instead speeding along by rebranding existing buildings. In IHG's case, it means out with the old, in with the "Holiday Inn — the Niu."
Marriott and IHG each announced Monday their latest expansion plans in Europe. Marriott set its sights on adding nearly 100 hotels by 2026, while IHG signed a deal to add more than 100 in Germany.
The announcements came as all hotel groups strive to sustain or speed up the addition of hotels to their networks. High financing costs have slowed new construction in Europe, and many companies seek to renovate and rebrand existing properties.
Lingering high inflation in Europe is also pressuring owners