The Caterer

Crowne Plaza American is InterContinental's latest sale

04 March 2005 by
Crowne Plaza American is InterContinental's latest sale

InterContinental has sold the Crowne Plaza American hotel in Amsterdam - the latest in its list of recent disposals.

The 174-bedroom hotel was sold to the Eden Hotel Group for €37m (£25m). In 2004, the hotel's estimated revenue was €11.5m (£7.9m), up from €11.2m (£7.7m) in 2003.

Since InterContinental split from Six Continents in April 2003, the group has sold 48 hotels with more than 10,000 bedrooms in total for about £750m.

Nine hotels have been sold off in the UK, including the InterContinental Mayfair and the Crowne Plaza Manchester, as well as six Holiday Inns.

InterContinental still has 89 hotels on the market with a book value of £1.5b.

by James Garner

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