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IKEA to Open Budget Hotels

PHILIPPE HUGUEN/AFP/GettyImages(NEW YORK) -- IKEA, the Swedish budget furniture retailer, plans to open 100 hotels across Europe for cost-conscious travelers.

The first hotel is expected to open in Germany. The location is to be announced in the coming weeks.

Few other details are available, but the Financial Times reported the hotels will not use the IKEA name or be run by Inter IKEA, the company that owns IKEA. Instead, IKEA will collaborate with an established hotel operator.

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