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Luke Martin

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IHG Projects 4.8% Room Count Growth in 2023, Driven by 60% Conversion Signings from Branded Hotels

🏨 UK-headquartered IHG is gaining market share, with conversions making up 50% of U.S. openings and 60% of signings from rival brands. CEO Elie Maalouf, during the Q3 update, called it a "flight to quality." IHG expects a 4.8% net room growth in 2023, up from 4.2%. The strong third quarter suggests further positive adjustments to forecasts.
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Hilton and Scandic Sign Multi-Year Franchise Agreement, First Hotel to Open in Copenhagen in 2029

🏨 Hilton and Scandic Hotels Group revealed a multi-year development agreement covering Sweden, Norway, Denmark, and Finland. The initial project is a 284-room Hilton Hotels & Resorts at Scanport Copenhagen Airport, set to open in 2029. This is a framework agreement; no additional hotels have been named yet. The partnership is a capital-light franchise model, where Scandic will develop and operate the hotels, paying Hilton fees based on room revenues.
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