IKEA to build budget hotels in Europe

August 19, 2012 8:47:43 PM PDT
Furniture retailer IKEA is looking to make its mark in a new market.

The company says it's looking to get into the budget hotel business.

The Financial Times reports IKEA wants to build and develop at least 100 hotels across Europe.

Furniture store officials reportedly said the hotels won't bear the IKEA name and won't be run by the company.