Adelaide

InterContinental Hotels Group (IHG) has signed a franchise agreement with investment firm Pro Invest Group for a new 245-room Holiday Inn Express hotel in Adelaide, Australia.

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Expected to be opened in 2018, the property will be situated on Hindley Street in the Central Business District (CBD).

It is the third property to be signed under the master development agreement between IHG and Pro Invest, which will include the development of 15 Holiday Inn Express hotels across Australia by 2025.

The first two properties will be opened in Sydney’s Macquarie Park, North Ryde in the first quarter of 2016 and Brisbane’s Spring Hill in the third quarter of 2016.

"Expected to be opened in 2018, the property will be situated on Hindley Street in the Central Business District (CBD)."

IHG Australasia, Japan, Korea and Asia, Middle East and Africa (AMEA) franchising chief operating officer Karin Sheppard said: "The development of the new Holiday Inn Express Adelaide is the latest in a series of milestones for IHG and our partner Pro Invest.

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"The site is exactly the right location for the Holiday Inn Express guest and hits our strategy of bringing the brand to key Australian cities."

Adelaide property will be near to the North Terrace, Adelaide Convention Centre and upcoming Royal Adelaide Hospital, in addition to Adelaide Casino and local sporting hub Adelaide Oval, as well as major corporate offices within the CBD.

The property will feature a self-service business centre and fitness centre, as well as two meeting rooms for small functions and events.

Pro Invest Group CEO Ronald Barrott said: "Adelaide in particular has seen some excellent occupancy in recent years and we are pleased to have secured this prime location in the city’s CBD for the third hotel in our portfolio."

IHG operates 24 hotels in Australia under three brands including InterContinental, Crowne Plaza and Holiday Inn.

Image: IHG and Pro Invest Group sign a franchise agreement for new Holiday Inn Express hotel in Adelaide. Photo: courtesy of InterContinental Hotels Group.