The world’s largest furniture retailer IKEA is looking to build and develop more than 100 budget hotels across Europe, according to media reports.
Inter Ikea, the Swedish company that owns the intellectual property rights of Ikea – which were last week revealed to be valued at €9bn by the company – is considering sites across Europe for what it calls “budget design” hotels,” UK The Financial Times reported.
An executive familiar with the plans said the hotels will not use the Ikea name and will not be run by the Swedish company but by an established hotel operator.
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“We will announce within a few weeks the first location for our budget hotel in Germany and we are in talks with hotel operators to rapidly implement our concept,” Harald Müller, a senior manager in Inter Ikea’s property division, told the Frankfurter Allgemeine Zeitung in Germany.
IKEA UAE, part of Al-Futtaim group opened a 32,000sqm IKEA store on Yas Island Abu Dhabi last year. It also has a 25,400sqm store in Dubai Festival City.
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Aug 21, 2012 , France
Will all the hotels come flat-packed in boxes and be assembled on site?