INVESTMENT NEWS
IHG to open “Holiday Inn – International Fair Plovdiv”
Intercontinental Hotels Group (IHG) announced the signing of a contract to build a "Holiday Inn – International Fair Plovdiv" hotel in Bulgaria.
The franchise agreement was signed with the future owner of the hotel, "Petrov Commerce".
An existing office building will be turned into a hotel with 68 rooms, positioned near the entrance to the center of Plovdiv, in close proximity to the exhibition grounds of the Plovdiv International Fair. It will be the first IHG hotel in Bulgaria's second largest city.
The Plovdiv International Fair attracts over 600.000 people annually.
"Our hotel will rely on a winning formula – many facilities, including an open lobby, hospitable service, and a good location, in a city of rich history and culture", said Angel Kolev, owner of “Petrov Commerce”.
"We are excited about our expansion in Bulgaria. The hotel industry is gaining momentum, with international brands making a breakthrough in new markets", commented Peter Wermer, Development Director of IHG for Central and Eastern Europe.
There are 281 Holiday Inn hotels across Europe, with 25 more set to open in the coming 3 to 5 years.
The "Holiday Inn – International Fair Plovdiv" is planned to open in 2015.
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