InterContinental Hotels Group (IHG) (LSE:IHG) (NYSE:IHG) (ADRs), the world's largest hotel group by number of rooms, today announced that it has signed a management agreement with Inverplata S.A. for the new Holiday Inn Express Hotel and Suites Santo Domingo in the Dominican Republic. Today Santo Domingo is considered to be one of the largest economic and commerce hubs in the entire Caribbean that bustles with young entrepreneurs, plenty of opportunities and several new developments all within a strong and financially viable market.
The 7-story, 145-room hotel, currently under construction, is situated on Avenida Abraham Lincoln, in an upscale neighborhood that is home to major foreign and local companies' headquarters, embassies, and government agencies. The hotel is also within close proximity to the Universidad Pontificia, Universidad Catolica Madre y Maestra, and a myriad of shopping centers, nightclubs, and restaurants. The Holiday Inn Express Hotel and Suites Santo Domingo is the second IHG property in Santo Domingo, and is also the second IHG property collaboration with development company, Inverplata S.A.
'We are excited to expand the Holiday Inn Express brand in one of the most vibrant cities in the Caribbean, further demonstrating IHG's commitment to expanding its brands in key cities within Latin America,' says Alvaro Diago, Area President of InterContinental Hotels Group Latin America. 'Additionally, this is our second hotel with Inverplata S.A., who also owns the venerable InterContinental V Centenario Santo Domingo, and we are thrilled to continue furthering our relationship with them.'
The Holiday Inn Express brand is a perfect choice for travelers seeking affordable lodging in a fresh and comfortable setting. The brand is IHG's fastest growing hotel brand in the world, with over 1,600 hotels worldwide. Additionally, Holiday Inn Express has been presenting innovative hotel concepts since its inception in 1991 and has received several awards and other highly noted recognitions for its clever strategic positioning with its frequent visitors that search for a hotel with great service at an affordable price.
When completed at the end of 2007, the Holiday Inn Express Hotel & Suites Santo Domingo will have a business center, outdoor swimming pool, spa, fitness center, and four meeting rooms.
'We are very proud to be developing one of IHG's fastest growing brands in our magnificent city of Santo Domingo; a city that has the richest products, culture and history in the entire Caribbean,' says Pierre Nahas of Inverplata S.A. 'We believe this new venture will not only benefit us and IHG, but it will also benefit the tourism industry as well as the economic interests of the region.'
Santo Domingo is the Capital of the Dominican Republic and is a great place to begin a Caribbean travel adventure. It is an enchanting city that melds a contemporary metropolis with an antique European charm, and tropical Latin flavors. The city offers exquisite dining, an energetic night life, and great shopping venues. It is considered to be the first European city in the Western Hemisphere, and a large part of its old world inheritance has been preserved in a region near the Ozama River called the "Colonial City," which UNESCO declared a World Heritage Site in 1990.
'We are thrilled with this new InterContinental Hotels Group project and we wish them much success; we already know that Santo Domingo's tourism is on the rise and will see an even greater increase in the years ahead," says Félix Jiménez, Secretary of Tourism for the Dominican Republic.
IHG in Latin America has opened four Holiday Inn Express brand hotels in the last two years, including three properties in Curitiba, Brazil, the Holiday Inn Express Avé. Sumare, in Sao Paulo, Brazil, and the Holiday Inn Express Puerto Montt in Puerto Montt, Chile. This signing agreement also complements recent Holiday Inn Express agreements that include: Holiday Inn Express Medellin La Strada, in Medellin, Colombia and the Holiday Inn Express Quito, in Quito Ecuador.
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