KH News Desk
IHG® Hotels & Resorts, one of the world’s leading hospitality companies, today announces the signing of an agreement with LRO Hospitality to add a 306-key Holiday Inn Express to the group’s portfolio in Germany, showcasing the brand’s suitability to convert and rebrand existing hotels.
The hotel is expected to re-open as part of the IHG family within the next 4-6 months and will undergo full refurbishment to be rebranded to Holiday Inn Express Dresden by the summer of 2024. The 10-floor property will include a lobby with breakfast area, a gym, and a flexible co-working/shared office space located on the first floor. The conversion signing further bolsters the brand’s strength in Germany and IHG’s portfolio in Dresden.
Commenting on the partnership, Willemijn Geels, Vice President Development Europe at IHG Hotels & Resorts, said, “Germany continues to be a key market for IHG, and we are delighted to be partnering with LRO Hospitality on bolstering our choice of hotels in the city of Dresden. This signing for Holiday Inn Express underscores the suitability of our brands for conversions of existing hotels.”
Henri Wilmes, Chief Investment Officer, LRO Hospitality commented, “LRO Hospitality focuses on hotels that offer significant recovery value to achieve attractive returns as the hotel sector returns to market stability. Holiday Inn Express Dresden is our first signing with IHG in Germany and we cannot wait to get started. We are confident that IHG is the right partner to achieve the kind of returns we are planning for.”
Building on a long-standing relationship with LRO Hospitality predominantly in the UK market, IHG welcomes the opportunity to expand this partnership further and support the company’s entry into the German market. Once open, Holiday Inn Express will be operated by Atlas Hotels, an affiliate of L+R Hotels. Atlas Hotels already operates some 60 select service hotels in the UK, mostly flagged under the “Holiday Inn Express” brand. IHG has 91* hotels in Germany, of which 79 belong to the Holiday Inn brand family. The company has 25* hotels in the pipeline in Germany.