Checking In: InterContinental Expanding in BA

The InterContinental Buenos Aires

InterContinental Hotel Group (NYSE: IHG), the world’s largest hotel group, today announced the launch of several new projects throughout Latin America including an upscale hotel in a BA master-planned community. (Reuters) IHG President Jim Abrahamson put the regional expansion in context, “We offer an outstanding value proposition for hotel owners and developers due to our long history of success in Latin America (63 years) along with the strongest and most well established brands in the world.” The Argentina investments announced today include an agreement to develop the InterContinental Nordelta Buenos Aires, Residence & Spa. Increasingly popular with foreign investors, Nordelta is one of the most exclusive gated communities in Buenos Aires with a variety of high-end amenities including a Jack Nicklaus championship golf course and a marina. The other IHG projects announced today include the extension of the Holiday Inn and Holiday Inn Express franchises in Argentina; and the launch of two new hotels in the interior: the InterContinental Mendoza and the Holiday Inn Express Rosario. IHG’s COO for Latin America, Alvaro Diago said today’s announcement–in the midst of a tough time for hoteliers in general–speaks volumes about investor faith in IHG brands.