The Marriott and the IKEA establishes a hotel chain

The Inter Hospitality subsidiary of the U.S. Marriott hotel chain and the Swedish IKEA furniture industrial group is building a three star hotel network in Europe under the Moxy Hotels brand name – the Marriott announced on Tuesday.

The creation of a total of 150 Moxy Hotels are planned in ten countries. The first will be opened in Milan in 2014, and within five years a further 50 will be built. The Moxy Hotels with its 60 euros prices targets the young, but sophisticated visitors.

In the first five years IKEA invests 500 million euros into the program.

(MTI, Világgazdaság Online)