IHG Signs With Omenport Developments for Hotel Indigo® London – Clerkenwell

United Kingdom, Denham. June 25, 2019

IHG® (InterContinental Hotels Group), one of world's leading hotel companies has signed a Management Agreement with Omenport Developments Ltd for Hotel Indigo® London - Clerkenwell. The 151-room hotel will be the fifth Hotel Indigo in London and is expected to open in early 2021. Located in the heart of the city, Hotel Indigo London - Clerkenwell brings a brand defining property to IHG's pipeline.

Established in 2004, Hotel Indigo is IHG's upscale boutique brand and has over 100 hotels across more than 15 countries. The brand is set to double its portfolio presence over the next three to five years and continue its growth as one of the largest boutique brands.

All Hotel Indigo properties provide a gateway to discover some of the world's most inspiring neighbourhoods and locations, making Clerkenwell a natural fit for the brand's expansion in the UK. The neighbourhood has strong travel links with Farringdon station, Barbican and Old Street all within walking distance, making it an increasingly popular location for both business and leisure travellers.

Just like no two neighbourhoods are alike, no two Hotel Indigo properties are the same. At the Hotel Indigo London - Clerkenwell, the current historic listed building of the Hat & Feathers pub will be added to by two newly-built modern wings. When it opens in 2021, the hotel will feature 151 guest rooms, an all-day restaurant and 5 meeting rooms, as well as incorporating the existing pub into the hotel.

Jon Colley, Head of Development, UK&I, IHG commented: "We are excited to bring Hotel Indigo London - Clerkenwell into portfolio. We are seeing strong growth in the boutique market in the UK and this hotel strengthens our position in the capital. This signing will join the newly opened Kimpton® Fitzroy London and Hotel Indigo London - 1 Leicester Square to build out our boutique presence in the UK's capital."

Heather Seckington, Owner and Director, Omenport Developments Ltd, said: "We're proud to be partnering with a leading hospitality company such as IHG. We value IHG's systems and expertise and we're confident the strength of the Hotel Indigo brand will make this hotel a success. We know the brand will fit right into the Clerkenwell neighbourhood, which is a hotspot for creative talent and technology start-ups."

IHG has 15 Hotel Indigo properties in the UK and a further 7 in the pipeline*. There is a strong momentum behind the brand as part of IHG's UK growth strategy. This year alone IHG has opened Hotel Indigo Stratford Upon Avon and is due to open Hotel Indigo Bath and Hotel Indigo Chester later in the year.

In total, IHG currently has 349* hotels operating under eight brands in the UK, including: InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, Hotel Indigo, Crowne Plaza® Hotels & Resorts, voco™ Hotels, Holiday Inn®, Holiday Inn Express® and Staybridge Suites®, with another 26 in the pipeline.

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Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.