More than 100 definitive expressions of interest in Garner
Hyatt has already received more than 100 definitive expressions of interest in Garner. It will be ready to franchise initially in the US by early Sep-2023, with the first hotels expected to open by the end of the year.
With a goal to expand globally, IHG expects the brand to reach an estate of over 500 hotels over the next 10 years and 1,000 hotels over the next 20 years in the US alone. The midscale segment in the US represents a USD14 billion market today that is set to reach USD18 billion in hotel revenue by 2030.
"Garner is another exciting step forward in the transformation of our brand portfolio, bringing to the midscale market a brand we know owners and guests want from IHG," says Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts.
Like others already in the midscale space, owners will be attracted to the benefits of IHG's global scale, strong enterprise, technology platforms and leading IHG One Rewards programme, supported by the hospitality group's previous success in developing, launching and growing brands.
IHG: owners have expressed desire to work with a high-quality conversion brand at lower price point
IHG says many owners have expressed their desire to work with a high-quality conversion brand at a lower price point, and it has developed Garner based on their feedback and insight. In addition to the benefit of accessing IHG's global sales organisation, low-cost distribution systems and lower procurement costs, owners will value the brand's flexible approach to conversions.
IHG says it will work with each owner and property site to evaluate the level of renovation required, while still providing Garner's brand-defining hallmarks and experience.
IHG: Garner will give owners and guests what they've been missing in the midscale space
"Garner will give owners and guests what they've been missing in the midscale space," says Jen Gribble, SVP, Global Marketing Mainstream Brands, IHG Hotels & Resorts, said:
"We've designed this brand to deliver on what's expected - a great night's sleep in a clean, comfortable space, with a breakfast worth getting up for. But how we deliver it will be different - from the warm and welcoming team to the lobby décor, our style is refreshingly approachable which appeals to all types of guests."
IHG already strong and active in midscale segment
IHG has built a strong position in the upper midscale segment brands such as Holiday Inn Express and Holiday Inn. To extend its leadership, Garner arrives at a lower price point and conversion cost per key than Holiday Inn Express, and will complement IHG's new-build midscale brand, avid hotels, as the focus on accelerating growth in the segment continues.