Voco will focus primarily on conversion opportunities and will strengthen IHG’s offer in the $40 billion upscale segment, which is expected to grow by a further $20 billion by 2025. Working with high-quality individual and locally-branded hotels, the brand will offer owners „the ability to drive higher returns through delivering a compelling guest experience and leveraging IHG’s powerful systems. This includes best-in-class revenue management and technology capabilities and IHG Rewards Club, one of the world’s largest hotel loyalty programmes”.
IHG says: „Voco, inspired by the meaning ‘to invite’ or to ‘come together’ in Latin, will combine the informality and charm of an individual hotel, with the quality and reassurance of a global and respected brand.”
The roll-out of Voco will begin in IHG’s Europe, Middle East, Asia & Africa (EMEAA) region, with plans to take it to the Americas and Greater China over time. IHG expects to open more than 200 voco hotels in attractive urban and leisure locations over the next 10 years.
IHG has confirmed the first signing for the Voco brand outside of Europe will be the Watermark Hotel & Spa Gold Coast, Surfers Paradise, Australia. The 388-room hotel is shortly to be acquired by IHG’s long-standing partner, SB&G, which currently owns five other IHG hotels in Australia. The hotel is due to open under the Voco flag in late 2018.
IHG CEO Keith Barr said: „We’ve talked about the significant growth opportunity we see for IHG in upscale and Voco will help us deliver against this. We’ll work with owners of attractive properties, who appreciate the power and expertise that a global business can bring to the table. Guests will be able to enjoy the appeal of a more individual hotel, alongside the reassurance of a name above the door that they trust. The versatility of the brand, means a Voco hotel can retain and celebrate all of the elements that make that existing hotel successful. With Voco, the recent addition of Regent Hotels & Resorts in the luxury space, the launch of Avid Hotels in the Americas, and the work we’re doing to enhance our existing brand portfolio, we’re making great progress with our ambitious plans to accelerate growth.”