Under the agreement all new hotels would be operated under franchise agreements.

Robin Wicks, IHG Chief Operations Officer Europe Division said: "This agreement is a significant step in further establishing IHG's brands in Poland - it's a very exciting agreement and Polish Hotel Company brings invaluable local knowledge to the development."

Mr. Hélder Santos, Chairman and shareholder of Polish Hotel Company sp. z.o.o., said: "We are excited by the agreement with IHG for the further development of IHG's Express by Holiday Inn, Holiday Inn and Crowne Plaza brands in Poland. We are proud to have as our shareholders Mr. Miguel Félix da Costa, Banco Espírito Santo Investimento as well as MSF TUR.IM, branch of the MSF group holding for property and tourism investments, represented in Poland by MSF Polska, sp. z.o.o., in this multi-deal development agreement. Dynamic Hotels is the consultant company appointed by Polish Hotel Company sp. z.o.o. to support the rollout of this agreement."

Dynamic Hotels is an international Hotel Consultancy enterprise, with great experience, which will provide a wide range of services to this project, such as the Project Management and the Project Financing.