Ikea Parent Company to Assemble its Own Chain of Budget Hotels

The jokes about meatballs and umlauts practically write themselves, but the company that owns the Ikea brand isn’t fooling around with expanding its presence in Europe’s hotel market. Inter Ikea Group already invests in real estate and owns a few hotels through its property division, but now the Dutch company—yup, it’ based in The Netherlands, not Sweden—is planning to open a chain of 100 budget properties. It promises accommodations that are stylish but affordable—not unlike the bookcases found in practically every dorm room and studio apartment you’ve ever seen. The hotels will not feature Ikea furniture, however, nor will they bear the Ikea name. The new brand will open its first hotel in Germany in 2014. reuters.com