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InterContinental Hotels JV signs deal for 4 Indian hotels

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InterContinental Hotels JV signs deal for 4 Indian hotels

InterContinental Hotels Group PLC agreed to establish a four-hotel portfolio in India with Lotus Trans Travel Private Ltd. under the Holiday Inn flag.

The hotels are slated to open between 2020 and 2023.

The Holiday Inn Bodhgaya, Holiday Inn Kushinagar, Holiday Inn Gorakhpur and Holiday Inn Shravasti will collectively add more than 450 rooms to InterContinental's portfolio.

The Bodhgaya, Kushinagar and Shravasti hotels will be refurbishment and upgraded and the Gorakhpur project will be a new hotel development.

The move is meant to establish the company's presence as the first international operator in the Buddhist tourism circuit in India, according to a release.