New hotels for strong economy

InterContinental Hotels Group is to build four new Express by Holiday Inn hotels in South Africa.

"The announcement of the four Express by Holiday Inn properties in South Africa is indicative of our confidence in the country's economic prospects and stability," said Ewan Cameron, Vice President Development, InterContinental Hotels Group, Africa.

The four hotels, to be built in partnership with ISO Leisure over the next two years, with the first in Cape Town scheduled for completion in 2007 and the last in Umhlanga in 2009, will take advantage of the escalating global tourism industry.

"Tourism is the world's fastest growing industry," said ISO Leisure chief executive, Gavin Watson. "With its high economic multipliers, for developing countries like ours, it is uniquely placed to stimulate economic growth, substantial and sustainable employment creation, as well as infrastructure development and foreign exchange earnings."

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