IKEA Is Planning a Line of Budget Hotels

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

IKEA Is Planning a Line of Budget Hotels

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.

Endnotes:
  1. The Associated Press: http://hosted.ap.org/dynamic/stories/E/EU_SWEDEN_IKEA_HOTELS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

Source URL: http://investorplace.com/2012/08/ikea-is-planning-a-line-of-budget-hotels/
Short URL: http://invstplc.com/1nA0HMe