IHG and ANA Joint Venture Creates Japan's Leading Hotel Group
TOKYO, Japan, October 26, 2006. InterContinental Hotels Group (IHG) and All Nippon Airways (ANA) announced the signing of a hotel operating joint venture to create the leading hotel operating company in Japan, the world's second largest hotel market. The joint venture - to be named IHG ANA Hotels Group Japan - will officially commence on 1 December 2006.
ANA will sign new management contracts with IHG ANA Hotels Group Japan for its 13 owned and leased hotels (4,943 rooms). In addition, the joint venture will continue to operate ANA Hotels & Resorts' other 18 hotels (4,127 rooms). IHG currently operates 11 hotels in Japan (3,100 rooms), which, combined with IHG ANA Hotels Group Japan's 31 hotels, gives a combined estate of 42 hotels with more than 12,000 rooms.
IHG CEO Mr Andrew Cosslett said: "This deal marks another significant step for IHG as we continue to develop our brands throughout Asia. We are delighted to be in partnership with ANA, which has a reputation for high standards and quality of service."
ANA President and CEO Mr Mineo Yamamoto said: "This is a great day for ANA Hotels and Resorts. Our joint venture with InterContinental Hotels Group, one of the world's most well-known and prestigious hotel companies, will bring our hotel guests the benefits of enhanced hotel operations under powerful co-brands and will enable our employees to take advantage of truly global training and personal development programs."
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