According to Financial Times, Swedish furniture giant IKEA's plans of investing in the property market will soon develop into at least 100 budget hotels, spread across Europe.
Inter Ikea, the company that owns the intellectual property rights of Ikea announced that the new projects will be budget design hotels, which offer boutique styling at lower prices.
The locations for the new developments were not revealed, however, Harald Müller, a senior manager in Inter Ikea's property division, asserted for the Frankfurter Allgemeine Zeitung in Germany: "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."
The awaited hotels will not use the name of the brand and will not even be managed by IKEA, but by an established hotel operator.
No other details were made public, but we imagine the interiors of the hotels will be adorned with various furniture items branded by the famous Swedish retailer.About Freshome
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