InterContinental Hotels Group (IHG) has announced the unveiling of its 200th hotel in Greater China with the opening of the InterContinental Shanghai Ruijin. This is said to mark another milestone for IHG, which was the first international company to enter the Chinese hospitality industry almost 30 years ago.
The property, owned by Shanghai Donghu Group Corporation, has been a landmark in the city for almost 100 years. The hotel that IHG has labeled InterContinental Shanghai Ruijin is the first of its heritage hotels in Asia, making it the sixth globally under the InterContinental Hotels & Resorts brand.
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.