InterContinental Hotels Group (IHG) announced that it launched a new brand called Avid Hotels, targeting travelers at a slightly lower price point than its popular Holiday Inn Express brand, a demographic it calls vastly underserved, according to Business Traveller.
IHG plans to begin construction on the first Avid Hotel in early 2018 with the first openings expected about a year later. Guests are expected to pay $10 to $15 less than they would at Holiday Inn Express.
Hotel owners who wish to create Avid Hotels franchises would pay a 5% royalty fee, but IHG is offering discounts to the first 100 owners who sign agreements. IHG said more than 150 owners have already expressed interest.
In addition to Holiday Inn, IHG’s existing brands include InterContinental Hotels & Resorts, Kimpton Hotels & Resorts and Hotel Indigo.