IHG Just Converted 11 Hotels Out of a Brand You've Never Heard Of. That's the Strategy.
IHG is pulling 1,800 rooms across Germany, Belgium, and France out of PentaHotels and into Holiday Inn, voco, and Garner... and 84% of their European room openings last year were conversions, not new builds. The question isn't whether the math works for IHG. It's whether the owners trading one flag for another are buying a distribution engine or a fee machine.