Patrick Finn Replaces Serena Lim at IHG
Left, Patrick Finn, right, Serena Lim: Two hotel developers off to new adventures
13 Feb 2023
Patrick Finn is IHG’s new vice president development-South-east Asia and Korea, replacing Serena Lim, who has joined CapitaLand Investment Singapore’s lodging business unit, Ascott, as chief growth officer, effective January 10.
Both are veteran developers. Both had long stints with Starwood Hotels & Resorts in their careers.
Before joining IHG, Finn led Hyatt Hotels’ development function across Asia-Pacific in planning and executing Hyatt’s brand portfolio growth strategy in the region. He was based in Hong Kong and now, Singapore.
“Given our strong growth ambitions we will benefit from Patrick’s vast experience across Europe, Africa, the Middle East and Asia in sourcing projects, structuring and negotiating strategic deals, building strong stakeholder relations as well as managing regional teams,” said Rajit Sukumaran, IHG’s managing director South-east Asia and Korea.
As of September 30, 2022, IHG has 111 hotels operating under 11 brands across 10 countries, and a pipeline of 90 hotels, in South-east Asia and Korea. Globally, the chain has 18 brands and more than 6,000 hotels.
Finn said he’s excited to work with the team and “accelerate growth into 2023 and beyond.”
Meanwhile, Lim leads Ascott’s global business development team in steering and managing the company’s growth in management and franchise contracts globally, excluding China, where development will continue to be led by the in-market team.
She reports directly to Ascott’s CEO Kevin Goh, who is driving an asset-light strategy that delivers strong recurring fee income.
Lim said the pandemic has shifted the needs and expectations of asset owners. “Our priority now is to deepen our engagement with existing owners while pursuing added opportunities to establish new owner relations,” she said.
Ascott’s portfolio of global brands includes Ascott, Citadines, Somerset, lyf and Oakwood.
“In my new role with Ascott, I’m confident of the resilient business model we have in place and the agility of our business to maneuver based on our hybrid offering of hotels, serviced residences and co-living,” said Lim.