by Mia Taylor
Last updated: 9:15 PM ET, Thu May 3, 2018
Intercontinental Hotels Group is about to become the largest luxury hotel operator in the UK thanks to a new deal that expands its footprint by 13 properties.
The company has entered into a conditional agreement with Foncière des Régions to rebrand and operate 12 hotels that are already in operation and one hotel that's in the pipeline, according to a statement released by IHG.
The deal makes IHG the leading luxury hotel operator in the UK, bringing its inventory to more than 2,000 rooms.
The move also allows IHG to launch its leading luxury boutique brand, Kimpton Hotels & Restaurants, in the UK. It will add multiple hotels in the Kimpton brand in major city centers including London, Manchester and Edinburgh.
The new UK deal and expansion marks an important step in IHG's effort to take the brand global, building on previous signings for Asia and China last year.
Separately, the company said the agreement also strengthens IHG's position in the upscale segment in the UK, and will establish a presence for a new upscale brand that will be launched later this year. The brand will be focused on conversion opportunities.
"We are focused on continuing to expand our leadership in luxury and upscale, which are both high-value segments with significant growth potential," Keith Barr, IHG chief executive officer said in a statement "Bringing Kimpton to such an important market as the UK is a key part of our plans, as is the introduction of our new upscale brand, which will provide an exciting, differentiated offering to both guests and owners.
"Together with the recent addition of Regent Hotels & Resorts to our portfolio, we are building real momentum behind our plans to deliver industry-leading net rooms growth," Barr added.
Among the UK hotels that are part of the new deal are: The Principal London; The Principal Edinburgh Charlotte Square; The Principal Edinburgh George Street; The Principal Met Hotel (Leeds); The Principal York; De Vere Oxford Thames; The Grand Birmingham (pipeline); The Principal Manchester; The Principal Blythswood Square (Glasgow); The Principal Grand Central (Glasgow); The Principal St David's (Cardiff); The Principal Oxford Spires and De Vere Wotton House.
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