InterContinental Hotels Group (IHG) has signed a new management contract with Srivikorn Group that will see it launch the fourth property under its new upscale conversion brand Voco by the end of the year.
The 201-bedroom Millennium Madejski hotel, located at Reading football club's Madejski stadium, is currently being operated by Millennium & Copthorne. It will be rebranded as Voco Reading over the next four months.
IHG said it has simplified and and accelerated the hotel conversion process to make Voco its fastest growing new brand. It has opened three Voco hotels in the UK since launching the brand in June 2018, in Cardiff, Solihull and Oxford.
The company is aiming to launch 200 Voco hotels globally over the next 10 years.
Jon Colley, IHG's head of development for the UK & Ireland, said: "This signing also sees us continue to grow our managed estate, which is a priority in our home market. IHG currently manage 18 properties and we're looking forward to working with our partners to expand that portfolio in the future."
Pimol Srivikorn, vice chairman at Srivikorn Group, added: "Voco is an exciting brand, providing a unique offering that complements our existing IHG assets in Asia. IHG is a great partner to work alongside and we know from experience that its systems drive successful performance in hotels."
IHG has 353 hotels operating under eight brands in the UK, with a further 21 in the pipeline.
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