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InterContinental signs Holiday Inn franchise deal

11 July 2005

InterContinental Hotels Group (IHG) has signed a franchise agreement for five more Holiday Inn hotels in the UK.

The properties are owned by Stardon, a joint venture company between Starwood Capital Europe and Glasgow-based investment company Chardon Hotels, which was set up to buy 11 Hilton hotels in March.

The hotels will now undergo refurbishment to meet Holiday Inn brand standards, and will be operated under a 20-year franchise agreement.

Andrew Cosslett, chief executive of IHG, commented: "The Holiday Inn UK portfolio now stands at 100 hotels and continues to out perform the market. We are delighted to be working with Starwood Capital Europe and Chardon who are both well respected in the hospitality industry."

The five hotels, with a total of 602 bedrooms are: the Holiday Inn Leeds; the Holiday Inn Brighton; the Holiday Inn Norwich City Airport; the Holiday Inn Corby; and the Holiday Inn Glasgow, East Kilbride.

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