Voco will focus primarily on conversion opportunities and will strengthen IHG’s offer in the $40bn (£29.8bn) upscale segment, which is expected to grow by a further $20bn (£14.9bn) by 2025.
IHG said the name is inspired by the meaning ‘to invite’ or to ‘come together’ in Latin and will combine the informality and charm of an individual hotel, with the quality and reassurance of a global and respected brand.
The roll-out of Voco will begin in IHG’s Europe, Middle East, Asia and Africa (EMEAA) region, with plans to take it to the Americas and Greater China over time.
The new brand will drive significant incremental growth for IHG, with an expectation to open more than 200 Voco hotels in attractive urban and leisure locations over the next 10 years.
The hotel group has announced that a number of the 12 upscale hotels recently acquired in the UK through a conditional agreement with Covivio (formerly Foncière des Régions) will be converted to Voco properties.
Keith Barr, chief executive officer, IHG, said: “We’ve talked about the significant growth opportunity we see for IHG in upscale and Voco will help us deliver against this. We’ll work with owners of attractive properties, who appreciate the power and expertise that a global business can bring to the table.
“Guests will be able to enjoy the appeal of a more individual hotel, alongside the reassurance of a name above the door that they trust. The versatility of the brand, means a voco hotel can retain and celebrate all of the elements that make that existing hotel successful.”
He added: “With Voco, the recent addition of Regent Hotels and Resorts in the luxury space, the launch of Avid hotels in the Americas, and the work we’re doing to enhance our existing brand portfolio, we’re making great progress with our ambitious plans to accelerate growth.”