InterContinental hotels to go on the market?
11 August 2004
InterContinental Hotels Group is expected to put most of its UK hotels up for sale for £1b next month.
On 9 September InterContinental will publish its interim financial results, and sources believe it will use the presentation to announce that it will be selling the remainder of its Posthouse hotel chain bought in April 2001 for £810m, along with much of the rest of its owned UK portfolio. The only UK asset likely to survive the sell-off is the 494-bedroom InterContinental London hotel on Hyde Park Corner.
An InterContinental spokesman said the rumours were market speculation.
