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Industry News
Hotel Industry NewsInterContinental Plans New York Hotel ExpansionInterContinental Hotels Group PLC is planning to nearly double its stable of hotels in New York City in the coming years, starting with the luxury, 600-room lodging slated to open July 12 in the Times Square area.The U.K.-based hotel chain, which owns the Holiday Inn and Crowne Plaza brands, among others, has 15 hotels in development in the city to add to the 22 it already operates. Those on the drawing board include a Hotel Indigo boutique on 38th Street, a Crowne Plaza in Long Island City and a Holiday Inn in the Bronx. InterContinental, also known as IHG, also sees enough of a market in Manhattan to support more of its massive, InterContinental luxury hotels beyond its soon-to-debut hotel at 44th Street and Eighth Avenue and the 685-room InterContinental Barclay hotel which has been operating for years, roughly five blocks to the east."We think that, ultimately, we could have three or four InterContinentals in a market like this," says Jim Abrahamson, president of IHG's Americas unit, in New York last week for a hotel-industry conference hosted by New York University.
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