Monterrey, Nuevo Leon. Mexico is among the top 10 growth markets for the hotel industry in the next decade.
Interview with IHG CEO Richard Solomons and IHG CEO for the Americas Ellie Maalouf
Tourism is one of the largest and most dynamic sectors in Latin America.
The region’s business districts, gastronomy, culture and natural beauty lure millions of travellers from around the world every year. But technology and generational evolutions play an important role in how people prefer to travel, and what they look for when planning a holiday.
With that in mind, InterContinental Hotels Group, IHG, is focused on expanding in Latin America.
Latin Trade sat down with Richard Solomons, Chief Executive Officer of IHG, and Ellie Maalouf, CEO of the Americas at IHG, during a visit to Mexico as part of a wider tour around the region to unveil plans and meet with industry leaders. Solomons and Maalouf talked about the top markets, challenges and advantages in Latin America, business strategy, technology and innovation.
Top markets in the next decade
It is a small world after all, at least for hotels. “The hotel industry is more concentrated than you may think,” Solomons said. “About 75 percent of growth over the next 10 years will come from 10 markets: U.S., UK, Germany, China, Mexico, Canada and a few others.
“There are many interesting places in the world, but the real action is in those 10 markets”. The U.S. is the largest and represents 60 percent, while the fastest growing is greater China. “But for Mexico and Latin America we have plans for 40 new hotels, of which about half will be …
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