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IHG sets aggressive goal in China

InterContinental Hotels Group has reiterated China's centrality in the company's growth plan by setting a target of doubling its network in the country within the next 3 to 5 years. This expansion will involve hiring 110,000 new employees by 2015, promising a positive impact on the economy.The plan received praise from British Prime Minister David Cameron, as "a great example of how British businesses can benefit from China's growing middle class". The announcement of IHG's intentions came after a trade mission to China, on which Richard Solomons, CEO of IHG, joined the Prime Minister.The announced plan is not a drastic change in IHG's operations in the country. With 200 hotels open and 179 hotels in the pipeline, IHG is the largest employer among international hotel companies in the region. In the first three quarters of 2013 alone, IHG signed another 42 new hotels to its portfolio.

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