InterContinental's shareholders expected to get £800m

14 February 2007 by
InterContinental's shareholders expected to get £800m

InterContinental Hotels Group (IHG) is expected to return a further £800m to shareholders when it releases it full year results next Tuesday.

According to The Times, IHG is also expected to announce plans to sell some of its 25 remaining owned hotels, including the InterContinental Buckhead Hotel in Atlanta, for an estimated $115m (£59m).

The disposals would continue IHG's asset light strategy, with the company now focusing on management and franchise deals for profits and growth.

The results are also expected to confirm IHG is on target to reach chief executive, Andy Cosslett's organic growth target of adding 60,000 rooms by the end of 2008.

Barclay Brothers have recently built up a 5% stake in IHG, which has already returned £2.75b to shareholders after disposing of 175 of its 200 owned properties.

IHG operates under the InterContinental, Crowne Plaza, Holiday Inn, Express by Holiday Inn and Staybridge Suites brands.

IHG signs hotel deal with Japanese Airline >>

IHG sees strong first half >>

IHG sells seven European properties >>

By Emily Manson

E-mail your comments to Emily Manson]('s shareholders expected to get £800m) here.

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