Brand strength of big hotel chains is the only way for the quick revival after the global meltdown, says the InterContinental Hotels Group CEO Andrew Cosslett.
Banking on their brand seems to be their strategy at the moment as their first quarter revenue rose to $362 million.
InterContinental (IHG) spans seven different name plates, and each one needs to tailor to a different customer. In such a scenario, Cosslett says, “you try to identify groups of people who think the same, and then offer them brands and products that they really buy into”.
Cosslett is behind the redesigning of one of the InterContinental’s best-known brands, Holiday Inn which he belives is an icon of the industry.
They are bringing it up to dateand he feels that the brand is very clear in its position about being authentic and real which works well for it.
Talking positively about the growing economy, Cosslett feels now that the recession is subsiding the genie’s out of the bottle on that one.
According to him there was a complete absence of corporate travel in the downturn but the leisure side stayed up. According to him IHG had more leisure travel last year than the previous year.
Talking about oversees expansion, Cosslett believes IHG is the biggest player in China and he has his eyes firmly set on
that market.
“It’s a very exciting place given the infrastructure that’s going on.
They’re building all these freeways, and 96 airports are in development right now. We want to be the primary mover making sure that we’re at the end of all these transport links.” They are planning to open 30 hotels in China this year.
