IHG Hotels & Resorts introduces the IHG LIFT initiative to enhance growth prospects for owners from diverse backgrounds
More than $30 million committed to help unlock paths to hotel ownership
IHG Hotels & Resorts has unveiled the IHG LIFT program aimed at supporting and enhancing opportunities for historically under-represented groups in the hotel ownership domain. With an allocation of over $30 million over the next five years, the program will address barriers like access to capital and provide resources throughout the hotel lifecycle for eligible owners in the U.S. and Canada. IHG LIFT stands for Leadership, Inclusivity, Facilitation, and Transformation, reflecting the industry's ongoing evolution.
Key Takeaways:
- Program Introduction: IHG LIFT aims to provide more development support for under-represented groups in the hospitality industry, seeking to diversify IHG's hotel owner community.
- Financial Commitment: Over the next five years, IHG is setting aside more than $30 million to back the program, especially for those in the U.S. and Canada.
- Program Essence: The name LIFT stands for Leadership, Inclusivity, Facilitation, and Transformation, embodying the change the industry requires.
- Company Comments: Julienne Smith (IHG) and Jyoti Sarolia (Ellis Hospitality) highlighted the importance of the program. They emphasized the need for diverse ownership, which resonates with the diversity of guests in hotels.
- DEI Commitment: IHG's focus on Diversity, Equity, and Inclusion extends throughout the hotel lifecycle, from supplier diversity to working with design firms having DEI focuses.
- Owner Diversity: IHG has a history of supporting owner diversity, collaborating with associations like NABHOOD, Latino Hotel Association, She Has a Deal, and AHLA’s ForWard.
- Education Partnerships: IHG partners with Clark Atlanta University and Morehouse College to foster diverse talent in the hospitality sector.
- Broader Purpose: IHG LIFT is part of IHG’s larger "Journey to Tomorrow 2030" plan, emphasizing responsible business and inclusivity for all stakeholders.
- Further Information: Detailed insights on the IHG LIFT program can be accessed HERE.
