Marriott, Ikea To Launch Economy Hotel Line In Europe

Law360, New York (March 5, 2013, 6:28 PM EST) -- Hotel giant Marriott International Inc. announced Tuesday that it plans to debut a new line of economy hotels in Europe in a partnership with Inter Hospitality, a subsidiary of Ikea parent company Inter Ikea Group.

Marriott and Inter Ikea Group plan to launch Moxy Hotels first in Milan in early 2014, growing the brand rapidly from there in order to corner the market for "millennial travelers," 20- and 30-somethings whose priority is often affordability.

"We see a huge opportunity to expand our market share in Europe...
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