InterContinetal Hotels to keep new global HQ in UK

InterContinental Hotels Group (IHG) has dampened speculation that it was going to move its global headquarters out of the UK by confirming its new head office will be in Denham, Buckinghamshire.

Earlier this year, IHG chief executive Andrew Cosslett warned that life was becoming "increasingly difficult" in the UK and admitted the group was considering a move offshore to avoid the expensive tax regime in the UK.

Shire Pharmaceuticals and publisher United Business Media recently moved to Dublin, while advertising giant WPP is also considering a move.

But IHG, owner of Crowne Plaza and Holiday Inn brands, today said it had simply "outgrown" its offices in Windsor

The company announced earlier in the year that it would report in US dollars from now on as well as denominating its dividends in dollars.

The bulk of its income already comes in the form of dollars or linked currencies and the period up to June will be the first period to be reported differently.

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By Gemma Sharkey

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