InterContinental Hotels plans to restructure the Crowne Plaza hotel brand and come up with a new chain of hotels in China after their revenues jumped by 6% last year. The hotel industry was able to recover post recession after leisure and business travels went up.
In China, the earnings for every available room also improved by as much as 25.8%. In Shanghai, this indicator of the hotel industry jumped by 55.9% brought about by the World Expo last year.
InterContinental plans to position its new chain of hotels just between their luxury line InterContinental and the Crowne Plaza. The company plans to increase its operations in China, the Middle East, and India through the next decade. Back in 2010, they opened more than 20 hotels in China.
Across the globe, InterContinental plans to rework the Crowne Plaza brand and close down the old hotels to give way to around 100 more hotels.