Intercontinental Hotels Group, whose American headquarters are based in Atlanta, will introduce a new midscale hotel brand. IHG (NYSE: IHG) will target more than 14 million guests in the underserved midscale market, which is worth an estimated $20 billion. The brand, code-named "Project Horizon," is expected to be franchise-ready by fall 2017, with the first hotels under construction in early 2018 and opening in 2019.