IKEA and Marriott join together for European hotel chain
'Moxy' will open first venue in Milan by 201405 March, 15:11
The hotel chain named Moxy will open 50 venues over the next five years for a total investment of 500 million dollars.
According to an article in the Wall Street Journal on Tuesday, rooms will not have the typical IKEA look that the furniture retailer is known for. Instead, the development will use new construction techniques to contain costs.
The first hotel will swing open its doors in the city of Milan by 2014, McPherson said. Within 10 years the Moxy chain is expected to expand to 150 hotels around Europe.