InterContinental Hotels Group (IHG) has broken ground on its first Avid hotel, just two months after the new midscale brand was launched.
The Avid Hotel will be owned by Champion Hotels, the developer which also opened the first Tru by Hilton location in Oklahoma City this year.
Champion Hotels describes itself as the “largest privately held operator in the United States, with over 150 franchised locations.”
Located in Oklahoma City, the four-story, new-build property is expected to open during the third quarter of next year, with 87 rooms for guests.
Since launching the brand, IHG says that developer demand is high with more than 100 franchise applications received, including 34 across the US which have already been converted to signed deals.
IHG says that the brand is also now ready for franchise in Canada.
"Momentum is continuing and building," said Elie Maalouf, CEO for the Americas at IHG.
“The brand's appeal to owners and developers clearly demonstrates IHG is trusted to identify and deliver a new midscale hotel brand that is right for guests and owners.
“Avid hotels is scaling rapidly, and is scheduled to open its first hotel by the end of summer 2018 – months ahead of original projections."
The midscale market, which Maalouf described as “underserved” is worth an estimated US$20bn, according to IHG.
The new brand is expected to have a rate that is around US$10-$15 less per night than IHG’s Holiday Inn Express brand.
All Avid hotels will feature an open, airy entry; communal spaces for guests to relax, work, connect and eat; guest rooms sound-reducing features, a dedicated workspace and ample storage space.
"We designed Avid hotels to reach an important set of business and leisure travellers in an underserved $20 billion segment of the U.S. midscale market,” added Maalouf.
“Owners are enthusiastic and Champion Hotels, with its distinguished reputation as a best-in-class hotel operator, is an ideal first developer for this new hotel brand."