InterContinental Hotels Group (IHG) has signed a management agreement for a new Crowne Plaza hotel in Noida, near Delhi.
The Crowne Plaza Taj Expressway Noida is being built by Delhi-based real estate company Sikka, as part of a master plan to develop more than 650,000m² of land in northern India.
The 150-room hotel will be a part of ‘The Downtown’ development in Sector 98 Noida, a mixed-use complex also comprising offices and retail outlets. The Crowne Plaza is scheduled to open in 2018, when it will become the brand’s second IHG hotel in the city, following the Crowne Plaza Greater Noida which opened at the end of last year.
“Hospitality is an important business vertical of Sikka and we are working on strengthening this expertise. IHG is an ideal partner for us as the company brings with it many years of international hotel management experience with leading global brands such as Crowne Plaza.
This will complement our local business knowledge and add to our success,” said Gurneet Singh Sikka, managing director of Sikka.
The newly-signed hotel adds to IHG’s pipeline of Crowne Plaza in India, with the brand’s nationwide portfolio set to almost double from seven to 13 hotels over the next five years.
“India is a key market for us. It holds our third largest development pipeline globally, behind the US and China and over the next three to five years we will grow by nearly 300 percent there,” said Pascal Gauvin, IHG’s chief operating officer for India, Middle East & Africa.
IHG currently has 19 hotels in India across four brands: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express. But it also has a pipeline of 46 hotels, including six Crowne Plazas.
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