With the gradually improving U.S. economy, hoteliers are looking to expand their footprints in the country. In order to keep with the trend, Intercontinental Hotels Group plc (IHG) recently inked a deal with Greenland USA – a leading developer of residential and commercial properties – for the first Hotel Indigo-branded property in the city of Los Angeles, California.
Hotel Indigo will be located at Metropolis, which is currently under construction. Metropolis, owned by Greenland USA (a subsidiary of Shanghai-based Greenland Group), is a 6.3-acre residential, retail and hospitality property located in the central business district of Los Angeles. The Metropolis will have retail shops along with three residential towers and the hotel.
The 350-room hotel will be easily accessible from the Los Angeles International Airport, Hollywood and the popular Santa Monica Beach. The hotel, scheduled to open in winter 2016, is located close to important landmarks like L.A. Live, the Nokia Theatre, the Staples Center and Los Angeles Convention Center. The location of the hotel will act as a major crowd puller.
With the recent economic resurgence in Los Angeles, the hotel will be well placed to serve both business and leisure travelers.
The Hotel Indigo brand – a boutique hotel – continues it strong growth trajectory with the scheduled debut in Los Angeles. With 63 hotels currently in operation, and a further 63 in the pipeline, the brand has strong potential to expand globally. Intercontinental Hotels is especially focused on building its presence in top-tier cities around the world as the demand for boutique hotels grows.
Intercontinental Hotels Group currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same sector include Marriott Vacations Worldwide Corp. (VAC), Intrawest Resorts Holdings, Inc. (SNOW) and China Lodging Group, Limited (HTHT). All these stocks sport a Zacks Rank #1 (Strong Buy).
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With the gradually improving U.S. economy, hoteliers are looking to expand their footprint in the country. In keeping with the trend, Intercontinental Hotels Group plc IHG recently inked a deal with Greenland USA – a leading developer of residential and commercial properties – for the first Hotel Indigo-branded property in the city of Los Angeles, CA.
Hotel Indigo will be located at Metropolis, which is currently under construction. Metropolis, owned by Greenland USA (a subsidiary of Shanghai-based Greenland Group), is a 6.3-acre residential, retail and hospitality property located in the central business district of Los Angeles. The Metropolis will have retail shops along with three residential towers and the hotel.
The 350-room hotel will be easily accessible from the Los Angeles International Airport, Hollywood and the popular Santa Monica Beach. The hotel, scheduled to open in winter 2016, is located close to important landmarks like L.A. Live, the Nokia Theatre, the Staples Center and Los Angeles Convention Center. The location of the hotel will act as a major crowd puller.
With the recent economic resurgence in Los Angeles, the hotel will be well placed to serve both business and leisure travelers.
The Hotel Indigo brand – a boutique hotel – continues it strong growth trajectory with the scheduled debut in Los Angeles. With 63 hotels currently in operation, and a further 63 in the pipeline, the brand has strong potential to expand globally. Intercontinental Hotels is especially focused on building its presence in top-tier cities around the world as the demand for boutique hotels grows.
Intercontinental Hotels Group currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same sector include Marriott Vacations Worldwide Corp. VAC, Intrawest Resorts Holdings, Inc. SNOW and China Lodging Group, Limited HTHT. All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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