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News Summary: Ikea to launch budget hotel chain

By The Associated Press
Published
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LODGING LAUNCH: Scandinavian furniture retailer Ikea is planning to launch a chain of budget hotels in Europe.

EUROPEAN AMBITION: The property division of Inter Ikea — the company that owns the Ikea intellectual property rights — is planning hotels in 100 locations across Europe. The first two hotels are expected to open in Germany in 2014. Other locations earmarked for hotels include Belgium, the Netherlands, the Nordic countries, Britain and Poland.

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