InterContinental Hotels Group (IHG) is looking to expand its portfolio through smaller deals, according to Reuters. At the International Hotel Investment Forum in Berlin, Richard Solomons, chief executive officer, said the company is looking further into deals similar to the $430 million purchase of boutique brand Kimpton. “We can add value quickly, rather than just adding a business because we want to be bigger,” he explained. He added that IHG is also looking to expand in Asia with the addition of one or two more luxury brands. As the third-biggest hotels operator in Asia by number of rooms, the company has 128,000 keys in the Asia-Pacific region. Read more about the company’s expansion plans here.
