(Yicai) June 24 -- InterContinental Hotels Group will continue to accelerate its expansion in the Chinese market because of a positive outlook on the business opportunities from inbound tourism and the development of the franchise model, according to the vice president of business for China at the UK multinational hospitality firm.

IHG will drive the development of its Chinese project from a dual approach of both management delegation and franchising, Jiang Wei told Yicai in an interview. The expansion speed of opening 100 hotels will be shortened from the initial 24 years to five, four, or even one and a half years, he added.

"The Chinese hospitality sector is displaying unprecedented development opportunities thanks to the government's vigorous promotion of high-quality development for the cultural and tourism industries," Jiang said. “In particular, the growing demand for high-quality tourism not only expands the demand for hotels but also drives innovation in products and services.”

IHG's hotels in China have clearly felt the rapid recovery of inbound tourists, including business and tourism groups for July and August during the summer vacations and for the peak exhibition months of May, September, and October, Jiang said. Overall, the proportion of individual inbound business travelers is higher than that of inbound group travelers, he noted.

The most popular cities for hotel stays are Beijing, Shanghai, Shenzhen, and Chengdu, according to Jiang.

Shanghai has always been a key development hub for IHG in China, Jiang pointed out. As of the end of the first quarter of this year, IHG had 60 hotels in the eastern Chinese city, covering nearly 10 brands.  

Given the market growth potential of the hospitality industry in areas around transportation hubs, IHG will open a hotel under its Voco Hotels brand and one under its Even Hotel brand in the Shanghai Hongqiao Central Business District this year, close to the National Exhibition and Convention Center and the Shanghai Hongqiao International Airport, Jiang said.  

IHG is one of the world's largest hotel franchisers, with over 40 years of operations in the Chinese market. As of March 31, IHG had 715 hotels in operation and 537 hotels under construction in China, covering a total of 12 brands. Over 40 percent of them were franchised hotels.

Editor: Tang Shihua, Futura Costaglione