IHG has successfully completed the sale of its leasehold interest in Holiday Inn Melbourne Airport to Pelligra Group, owners of upcoming Holiday Inn Melbourne Werribee and Holiday Inn Melbourne Richmond.
The decision supports IHG’s global asset-light strategy, which ensures its business model is focused around what it does best: franchising and managing hotels, with its business partners owning the bricks and mortar. Since 2003 IHG has completed the sale of almost 200 hotels globally as part of its move to an asset-light business model, and the sale of the Holiday Inn Melbourne Airport lease continues that global approach.
As part of the sale, Pelligra Group has agreed that they will invest in a major refurbishment of this hotel over the coming years, bringing it in line with the best of the Holiday Inn brand.
Abhijay Sandilya, Vice President Development, Australasia, Japan & Pacific said: “We are particularly thrilled to expand our partnership with Pelligra Group. We have a fantastic relationship and together we will open Holiday Inn Melbourne Werribee in 2021 and Holiday Inn Melbourne Richmond in 2023. We’re pleased that the deal means that we not only continue to support IHG’s global strategy, but that the iconic Holiday Inn Melbourne Airport will benefit from a refurbishment.”
