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    IHG   GB00BHJYC057

INTERCONTINENTAL HOTELS GROUP PLC

(IHG)
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Intercontinental Hotels : IHG Hotels & Resorts grows in South Korea with second voco™ hotel

10/12/2021 | 10:12pm EST

IHG Hotels & Resorts is proud to announce the signing of voco Gangnam.

The 151-key hotel - scheduled to open in Q2 2022 - is the second voco property IHG has signed in South Korea this year, following voco Pyeongtaek City. voco Gangnam will be the first voco to open and it further supplements a portfolio of nine hotels in the country which strongly reinforces the company's continued expansion in South East Asia & Korea.

voco Gangnam is perfectly located at the heart of Seoul's energetic Gangnam district - one of its main tourist areas and economic hubs, renowned for its trendy restaurants, upscale and designer-brand shopping malls and vibrant nightlife.

Facilities at the hotel include an 85-seat café & bar, three meeting rooms totalling 600 square metres, and a fitness centre. Guests can look forward to a stay brightened by a bold, contemporary and inviting design that uniquely showcases a reinterpretation of traditional Korean styles.

Serena Lim, Vice President, Development, South East Asia and Korea, IHG said: "We're delighted to continue our growth in South Korea with the signing of voco Gangnam, which adds to the momentum we are building following our announcement of voco Pyeongtaek City in July. This wonderful country is an important market for IHG, and we are proud to have added to our footprint with a great property in such an exciting location.

"Our partnership with Yongchang Industry Co., Ltd., ensures we have the combined industry experience and powerful enterprise to support the success of our new hotel. We're very excited to bring our premium voco brand to the vibrant city of Seoul and look forward to sharing it with our guests who I know will enjoy the distinctive style of our signature voco life from the moment they walk through our doors."

Oh Sang Jun, CEO, Yongchang Industry Co., Ltd said: "We are thrilled to partner with IHG, a renowned leader in global hospitality, for voco Gangnam. We look forward to leveraging IHG's all-encompassing industry knowledge and infrastructure and, together, bringing the voco brand and its contemporary lifestyle experience to life.

"Gangnam is well-known for its vibrancy, sophisticated ambiance and dynamic culture, which makes the voco brand a great match for it. Its playful and characterful nature is well-suited to South Korean lifestyle and its bold and contemporary style always strikes a chord with guests who like to be different and stand out from the crowd."

Close to key cultural, entertainment, shopping and commercial areas, voco Gangnam boasts easy access to the Han River, Coex Convention & Exhibition Center, museums, contemporary arts, and the Hyundai Department Store. Located within 50 minutes' drive from Incheon International Airport and a few minutes' walk from Sinsa subway station, it is surrounded by some of Seoul's most celebrated local attractions including K Star Road, Garosugil, Apgujeong-dong and Hangang Park.

Launched in 2018, the voco brand marked IHG's fastest-ever global expansion with more than 50 signed and open hotels in more than 20 countries. Originating from Latin, voco means 'to invite' and 'call together' which perfectly represents its thoughtful and playful nature, and ability to offer meaningful connections.

The voco brand offers flexibility with its design concepts making it suitable for a broad range of asset types including new-build and conversion projects. This flexible approach and its unique sense of style means it is attracting widespread interest from owners looking to convert hotels, maximise returns and quickly benefit from IHG's global scale, technology platforms and one of the world's largest hotel loyalty programmes - IHG® Rewards.

With the signing of voco Gangnam, IHG has 19 signed and open voco hotels in Asia Pacific, including two open properties in Hunter Valley and the Gold Coast in Australia, and Hangzhou in China with further openings set for Singapore, Vietnam, Thailand, South Korea, New Zealand and Saipan.

The entry of the voco brand marks the fourth brand entity within IHG's portfolio in South Korea alongside InterContinental, Holiday Inn and Holiday Inn Express.

Disclaimer

IHG - Intercontinental Hotels Group plc published this content on 13 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2021 02:11:06 UTC.


ę Publicnow 2021
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Net income 2021 200 M - -
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EV / Sales 2021 9,39x
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