Last checked at 30 Sep 2015 07:00
IHG ANNOUNCES THE COMPLETION OF THE SALE OF
INTERCONTINENTAL HONG KONG
30 September 2015 - InterContinental Hotels Group PLC (IHG) [LON:IHG, NYSE:IHG (ADRs)] announces the completion of the sale of InterContinental Hong Kong to Supreme Key Limited, a consortium of investors advised and managed by Gaw Capital Partners. IHG will continue to manage the hotel under a long-term management contract.
Gross disposal proceeds of $929 million have been received in cash, after initial working capital adjustments. The terms of the transaction are otherwise unchanged from those announced on 10 July 2015.
For further information please contact:
Investor Relations (Catherine Dolton; Matthew Woollard; Adam Smith): +44 (0)1895 512176
Media Relations (Yasmin Diamond; Zoe Bird): +44 (0)1895 512008
Notes to Editors:
IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants,HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Hotel Indigo®, EVEN™ Hotels, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns more than 4,900 hotels and 724,000 guest rooms in nearly 100 countries, with almost 1,300 hotels in its development pipeline. IHG also manages IHG® Rewards Club, the world's first and largest hotel loyalty programme with more than 88 million members worldwide.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales. More than 350,000 people work across IHG's hotels and corporate offices globally.
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