IKEA Is Planning a Line of Budget Hotels

by Angela Nazworth | August 16, 2012 2:26 pm

Scandinavian retail giant Ikea is branching out into the hospitality industry.

The retailer’s property division has announced plans to open 100 budget hotels throughout Europe, The Associated Press[1] reports.

The hotels won’t be filled with Ikea furniture, nor will they bear the chain’s world-famous moniker.

Harald Muller, a Brussels-based business development manager of Inter Ikea’s property division, told the AP that the hotels will have a “Scandinavian feel” and will adhere to Ikea’s philosophy of providing “good quality at a reasonable price.”

“Aside from that, guests won’t really recognize Ikea in it at all,” Muller said.

Two hotels are slated for a 2014 opening in Germany.

Source URL: http://investorplace.com/2012/08/ikea-is-planning-a-line-of-budget-hotels/
Short URL: http://investorplace.com/?p=216445

---