IHG announces its seventh multiple development agreement in Germany (DE)

InterContinental Hotels Group (IHG®), one of the world’s largest hotel companies, has announced its seventh multiple development agreement (MDA) in Germany with existing owner partner Sierra Hotel Management Ltd. The first property already signed under the agreement is Holiday Inn Express® Karlsruhe – City Park, due to open in mid-2016.
Holiday Inn Express Karlsruhe – City Park marks the first hotel out of a total of five hotels in the agreement. The newly constructed hotel will feature 115 rooms, three multifunctional meeting rooms and ample car parking spaces for guests.
Holiday Inn Express Karlsruhe – City Park will occupy a prime location on Zimmerstrasse at the entrance to the city of Karlsruhe, which is home to the German Federal Constitutional Court, a number of large companies and several research institutions. The city is well connected to Frankfurt, Munich, Freiburg, Basel and Paris and the hotel is within close proximity to the largest redevelopment being undertaken in the area.
René Schappner, Director of Development for Germany, IHG said: “We’re thrilled to have signed our seventh MDA with Sierra and this growth engine is going to greatly help accelerate our shared development goals for Germany.”
Uwe Aschke, CEO of Sierra Hotel Management Ltd. said: “Holiday Inn Express is a strong hotel brand with fantastic growth potential in Germany. We’re excited about the multiple development agreement with IHG. The new Holiday Inn Express in Karlsruhe is a significant milestone in the company’s growth strategy.”
Source: IHG