200 bidders line up for IHG sell-off

28 October 2004
200 bidders line up for IHG sell-off

The sale of 75 InterContinental hotels in the UK attracted about 200 indicative bids in the first round of the disposal that is expected to raise about £1.3b for shareholders.

The company plans to retain ownership of only six UK hotels, including the InterContinental on Hyde Park Corner in London.

Analysts anticipate the biggest response will come from private investors or private equity firms, although they expect international players such as Peninsula, Shangri-La and Rezidor SAS to be interested in hotels that can be rebranded.

"We are looking to keep the flags on the majority of the hotels through management or franchise deals," said communications director Leslie McGibbons.

Source: Caterer & Hotelkeeper magazine, 28 October 2004

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking