Most hotel companies have now released their second-quarter results with some commentary on the state of the industry recovery.
IHG’s CEO, Mr. Keith Barr, teased about yet another luxury brand that they would launch for conversion purposes.
You can access IHG here.
Here’s an excerpt from the Costar:
Net unit growth remains fundamental to IHG’s return, Barr said. He announced plans for a new “luxury, lifestyle brand,” but gave few details other than it will be driven by conversions.
“We’re keeping a tight lid on the brand’s name and key features for a few more weeks, but it will be at a different price point to Voco, and it will be a collection brand
Marriott has Autograph Collection and Tribute Portfolio, Hyatt has Unbound Collection, Accor Mgallery and Hilton LXR and perhaps Curio.
IHG is not willing to announce the name yet, but they have trademarked VERSETT AN IHG HOTEL in early 2021, indicating that they plan to use this name for hotel development.
Current brand portfolio:
IHG currently uses the voco brand for conversions.
Hotel chains have introduced several “soft brands” that are conversion-friendly, and IHG has not had anything in this space outside of voco.
However, you do have to question how many brands are too many, although the number of IHG’s is rather modest compared to Accor or Marriott.
Let’s see if this new yet unnamed “collection” brand ends up being the VERSETT that IHG trademarked earlier this year.