Ikea opens up to the hotel branch and joins forces with Marriott for a new brand of a chain of cheap hotels for young people in Europe. The new brand will be called Moxy and the project foresees the opening of 50 hotels over the next five years in the old continent: the first should open within a year in Milan.
The brings it back Wall Street Journal noting that the alliance is expected to be announced today. A subsidiary of Ikea will be part of it, which will invest 500 million dollars in it. However, there will be no furniture or the typical design of the Swedish furniture giant in the hotels, which will instead propose new construction techniques to contain costs.
