A new upscale brand called voco is being introduced by InterContinental Hotels Group with plans for 200 properties over the next decade.
The new brand will focus primarily on ‘conversion opportunities’ and will strengthen IHG’s offer in the $40 billion luxury segment, which is expected to grow by a further $20 billion by 2025.
Voco, inspired by the meaning ‘to invite’ or to ‘come together’ in Latin, will combine the informality and charm of an individual hotel, with the quality and reassurance of a global and respected brand, according to IHG.
The introduction of voco will start in IHG’s Europe, Middle East, Asia & Africa region, with plans to take it to the Americas and China over time.
IHG announced plans last month to expand its luxury and upscale estate in the UK through a conditional agreement with Covivio to rebrand and operate 12 high quality open hotels and one pipeline hotel into its portfolio.
“This deal will establish an important presence for voco in the UK with a number of these properties converting to the new brand in the coming months,” IHG said.
The first signing for the voco brand outside of Europe will be the 388-room Watermark Hotel & Spa Gold Coast, Surfers Paradise, Australia.
IHG chief executive Keith Barr said: “We’ve talked about the significant growth opportunity we see for IHG in upscale and voco will help us deliver against this.
“We’ll work with owners of attractive properties, who appreciate the power and expertise that a global business can bring to the table.
“Guests will be able to enjoy the appeal of a more individual hotel, alongside the reassurance of a name above the door that they trust.
“The versatility of the brand, means a voco hotel can retain and celebrate all of the elements that make that existing hotel successful.
“With voco, the recent addition of Regent Hotels & Resorts in the luxury space, the launch of avid hotels in the Americas, and the work we’re doing to enhance our existing brand portfolio, we’re making great progress with our ambitious plans to accelerate growth.”