InterContinental Hotels Group (IHG) has launched a new upscale brand that will focus primarily on conversion opportunities, combining the best traits of an individual hotel and a global brand.
voco, which was inspired by its Latin meaning "to invite" or to "come together," has its first signing in Australia. The 388-room Watermark Hotel & Spa Gold Coast in Surfers Paradise, Queensland is scheduled to open under the voco flag later this year.
The new brand will work with high-quality individual and locally-branded hotels to deliver a distinctive guest experience while leveraging IHG's dynamic systems, including revenue management and the IHG Rewards Club loyalty program.
voco property highlights will include a signature welcome experience that includes a simple check-in and locally-influenced treat, extra cozy bedding, aerated showers and connectivity in every room as well as a sociable bar and lounge spaces that work for different moments throughout the day.
voco's rollout will begin in Europe, the Middle East, Asia and Africa before eventually expanding to the Americas and Greater China. IHG expects to open more than 200 Voco hotels over the next decade.
"We've talked about the significant growth opportunity we see for IHG in upscale and voco will help us deliver against this. We'll work with owners of attractive properties, who appreciate the power and expertise that a global business can bring to the table. Guests will be able to enjoy the appeal of a more individual hotel, alongside the reassurance of a name above the door that they trust. The versatility of the brand, means a voco hotel can retain and celebrate all of the elements that make that existing hotel successful," said IHG CEO Keith Barr in a statement.
"With voco, the recent addition of Regent Hotels & Resorts in the luxury space, the launch of avid hotels in the Americas and the work we're doing to enhance our existing brand portfolio, we're making great progress with our ambitious plans to accelerate growth."
Tuesday's announcement comes one month after IHG revealed plans to add 13 luxury and upscale hotels in the U.K. The hotel giant's latest moves have it well positioned to capitalize on the lucrative $40 billion upscale segment, which is forecast to grow by another $20 billion by 2025.
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