InterContinental Hotels Group revealed plans to launch a new midscale hotel brand. The group currently consists of 12 brands, fewer than its similarly sized competitors.

The new brand will target more than 14 million guests in an underserved segment of the U.S. midscale market, estimated to be worth $20 billion in annual industry revenues.

“This new brand builds on IHG’s leading position in the midscale segment alongside Holiday Inn and Holiday Inn Express,” said Richard Solomons, chief executive officer, IHG. “It addresses the needs of a rapidly growing and underserved segment and we believe it will shape the future of this unique midscale category. This launch will extend our track record of innovation and brand development, with a new offering that is right for our guests, our owners and our shareholders.”

The name, logo and other brand elements are set to be announced later this year, but it looks as if it will launch first in the United States, with its price point aimed at $10–15 less than the Holiday Inn Express brand.

Initial features of the brand include a mixture of rooms that include a 220-square-foot king bed and a 275-square-foot queen bed, built-in work space, open closet storage with a luggage shelf, an excellent shower and a smart TV; public spaces designed for working guests; mobile check-in and check-out; IHG Connect enhanced WiFi; in-room entertainment options allowing guests to stream content from their smart devices to in-room TVs; and complimentary breakfast with brand-named options, alongside a premium coffee experience.

The hotel is designed for new-build construction on an average 1.5-acre lot. The prototype design includes 95–100 keys with a minimum of three stories. The brand is expected to be franchise-ready in fall 2017, with the first hotels beginning construction early 2018 to open 2019.