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UK Hotel Group Looks to Far East for Growth
UK-based hotel giant InterContinental Hotels Group is continuing to look to Asia for growth in 2012. Profits for the group were up 25% in 2011, much of which can be attributed to the addition of several new properties in the Chinese market. Emerging markets such as China, and also India are expected to be key in the groups future search for growth.
Encompassing brands such as Holiday Inn and Crowne Plaza, the InterContinental Hotels Group's most impressive growth has been in China. In the last year they opened a total of more than 8,000 rooms in the Chinese market, and a staggering 25% of their global capacity is now in China. The group's rate of growth in the fast-developing market is also astonishing, IHG has doubled the size of its China operations in the last two years.