Wednesday, 6 March 2013

IKEA Teams Up With Marriot For Budget Hotels, Unveils Designs

Inter IKEA, the parent company of Swedish furniture giant IKEA, is joining forces with luxury hotel chain Marriott to launch a chain of European budget hotels.

Called ‘Moxy Hotels’, the three-star economical accommodations will be affordably priced, and have 150 locations across Europe over the next ten years.

The first of its kind will debut in Milan, Italy, in early 2014—moving on, it will also open in countries including Germany, the UK, Netherlands, Belgium and Austria.

“We see a huge opportunity to expand our market share in Europe,” Amy McPherson, president of Marriott International in Europe, told Bloomberg. “The economy tier in Europe represents nearly half of total room supply, yet only 20% of these hotels are branded.”

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