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Asia Pacific
China first for new budget hotel group
Monday, 08 Jul, 2008
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KUALA LUMPUR – Malaysia’s property developer IGB Corporation Berhad is reported to be investing approximately US$612.6 million to develop a new value-for-money hotel chain, Super Express, across the Asia Pacific region by 2013 or 2014.
The investment amount is expected to add some 20,000 rooms for the group.
The first Super Express hotel is expected to open in China by 2011, with rooms averaging 11 square metres in size.
By 2010, the group’s room inventory is expected to increase from 3,800 rooms to 5,300 rooms as it expands into the Vietnam, Thailand and Australia markets.
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