IHG Hotels and Resorts has announced the launch of a new midscale conversion brand.
Called Garner, it brings IHG’s portfolio to a total of 19 brands.
Garner will begin franchising in the US this September and its first hotels are expected to open by the end of the year.
IHG plans to expand the brand globally and expects it to reach over 500 hotels in the next 10 years and double that in the next 20 years in the US alone.
"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,” said Elie Maalouf, CEO of IHG Hotels and Resorts.
“Owners are attracted to the benefits of IHG's global scale, strong enterprise, technology platforms and leading IHG One Rewards program, supported by our proven success in developing, launching and growing brands. We have already received more than 100 definitive expressions of interest in Garner, which demonstrates the strong potential in the segment."
The midscale segment in the US represents a $14 billion market that is set to reach $18 billion in hotel revenue by 2030.
IHG is among a long list of hotel companies expected to launch new brands in the segment this year.
Others include Marriott International, Hilton Worldwide, Hyatt Hotels Corp. and Accor.