by Lacey Pfalz
Last updated: 10:00 AM ET, Fri August 25, 2023
IHG Hotels & Resorts (IHG) has started a new owner growth program, IHG LIFT, offering more support for historically under-represented groups within the industry to encourage greater diversity of hotel ownership.
The company will commit over $30 million over the next five years to support the program, including access to capital and support along the hotel lifecycle, for qualifying owners in the U.S. and Canada.
IHG LIFT, which stands for Leadership, Inclusivity, Facilitation and Transformation, represents the change needed in the hospitality ownership sphere.
Jyoti Sarolia, CEO, Ellis Hospitality, and owner of IHG hotels in California, said: “A program such as IHG LIFT is important to our hotel industry. These efforts help grow our community of owners which should be as diverse as the guests we serve every day. IHG’s commitment and focus to make a difference certainly resonates with me as an owner.”
IHG LIFT is the newest way the hotel company supports diversity, equity and inclusion. It also has its EPIC Supplier Diversity Program, and offers support to the National Association of Black Hotel Owners, Operators and Developers, the Latino Hotel Association, She Has a Deal and AHLA’s ForWard.
Julienne Smith, Chief Development Officer, Americas, IHG Hotels & Resorts, said: “As our industry grows, we need to keep our focus on enabling more success for our diverse ownership base. Barriers such as a lack of access to capital and the right networks put such owners at a disadvantage. The IHG LIFT program is specifically designed to help ease the path to ownership and ultimately support owners. Diversifying ownership is not only better for IHG, it also lifts up our entire industry.”
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