Apollo Global wins £1 billion hotel auction: Apollo Global Management has been selected as preferred bidder for a £1 billion hotel asset portfolio that includes the 906-room Holiday Inn Kensington Forum and the Holiday Inn Heathrow
Hotel giant plots deal spree after U.S. raid flops: Intercontinental Hotels Group is weighing bids for rivals Fairmont and Mövenpick after ruling itself out of a multibillion-pound merger with America’s Starwood last week
IHG and Starwood have held early deal talks: InterContinental Hotels Group has held early stage talks with Starwood Hotels & Resorts over a union to create the world’s largest hotel group, said two people familiar with the discussions.
Owning hotels is an unnecessary luxury for remodelled IHG: A leading hotel group that includes the Holiday Inn chain completed a 12-year journey from asset-heavy to asset-light by announcing the sale of its luxury InterContinental Hong Kong to a local investment consortium for $938 million.
Intercontinental Hotels has sold its five-star Hong Kong hotel for US$938m cash to a consortium of investors, but will retain a 37-year management contract on the building, with three 10-year extension rights. The sale of the 503-room hotel on the Kowloon waterfront, which has three Michelin-starred restaurants and a wide range of state-of-the-art meeting and banqueting facilities, "highlights the enduring appeal of InterContinental as one of the world's leading luxury hotel brands", said chief executive Richard Solomons.
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