Intercontinental takes control in India11 July 2012
UK-based Intercontinental Hotels Group (IGH) is changing strategy in India and is moving to 100 percent ownership of the 11 hotels it operates in the country.
IHG previously operated under franchise agreements with many of its properties, but the strategy was not always successful.
"In certain cases the franchise agreement expired, so we did not renew them," IHG's chief operating officer for Southeast Asia, Chris Moloney, told Indian media.
"In other cases, such as with Lalit Group, we had a mutual separation."
IHG has reduced the number of Indian properties in the last four years, cutting 24 properties to leave only 11 remaning.
After determining a fully owned model, the first now aims to launch another 47 hotels by 2016, many of them with the Holiday Inn brand.
The goals makes India third in IHG's international pipeline next to the US and China.