Search
The Caterer

IHG share-holder urges company to consider global merger

30 May 2014 by
IHG share-holder urges company to consider global merger

A minority share-holder of InterContinental Hotels Group (IHG) has urged the global hospitality group to pursue a merger following reports that it had turned down an offer from an unnamed bidder.

Marcato Capital Management (MCM), a hedge fund company based in San Francisco, is quoted in the New York Times as saying that a merger between IHG and another major hotel operator would represent "a unique opportunity to reshape the global hospitality industry".

MCM owns 3.8% of the shares of IHG, which operates the Holiday Inn and Crowne Plaza brands.

Richard McGuire, MCM's founder and managing partner, said: "We believe that a combination with a larger hotel operator would have compelling strategic and financial merit."

Earlier in the week it was rumoured that a bid had been made for IHG from a US-based hotel group such as Hilton Worldwide, Wyndham Hotels & Resorts or Starwood Hotels & Resorts.

TagsFinance and Hotels
The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

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.

close

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.