IHG (InterContinental Hotels Group) has recently celebrated the unveiling of its 200th hotel in Greater China with the opening of the InterContinental Shanghai Ruijin.This marks another milestone for IHG, which was the first international company to enter the Chinese hospitality industry almost 30 years ago, and reinforces our leadership in the world’s fastest growing market. The InterContinental Shanghai Ruijin, owned by Shanghai Donghu Group Corporation, has been a landmark in the city for almost 100 years. Such is the prestige of the hotel that IHG has labelled InterContinental Shanghai Ruijin the first of its heritage hotels in Asia, making it the sixth globally under the InterContinental Hotels & Resorts brand.
Richard Solomons, Chief Executive of IHG commented: “We were the first international company to enter the Chinese hotel market almost 30 years ago and it is now our second largest market in the world. The opening of our 200th hotel here is testament to how much our brands are loved by owners and guests alike. Our deep understanding of the underlying needs of local consumers is a strategy which is working and we are extremely positive of our future in China and excited about the opportunity ahead.”
Chen Geng Rong, President, Shanghai Donghu Group Corporation commented: “We are very proud of this historical property and pleased to put it in the hands of IHG, one of the earliest partners in China’s hospitality industry. With IHG’s international hotel management expertise and our local knowledge and resources, I have no doubt of the success of this partnership and that of InterContinental Shanghai Ruijin.”
According to the forecasts by the World Tourism Organization, the Chinese hotel room market will overtake that of the US, which is currently the largest in the world, by 2025. By 2039 China’s will be twice the size of the US’s. In light of the rapidly growing market, IHG will continue its commitment to China. Over the next 20 years, IHG plans to increase by almost eightfold the number of hotel rooms it has in Greater China, which equates to about 360,000 rooms and an additional 300,000 new jobs.
