InterContinental Hotels purchases 51% of Regent Hotels

collected by :Frank Ithan

InterContinental Hotels Group PLC IHG said Wednesday that it has agreed to purchase a 51% stake in Regent Hotels & Resorts for $39 mn in cash, by an option to purchase the rest in stages from 2026. InterContinental Hotels, that franchises, leases, manages or owns further than 5,300 hotels, said it plans to grow Regent Hotels brand from 6 hotels to further than 40 hotels over the long term. InterContinental is paying the $39 mn in 3 tranches of $13 mn by the premier payment upon completion, the 2nd in 2021 & the last payment in 2024. The bargain is Guessed to lock during the 2nd quarter of 2018, upon satisfaction of proven customary conditions. Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749


IHG Is Buying Regent Hotels & Hong Kong Is Getting Its Regent Hotel Back

External ArticleIHG Is Buying Regent Hotels & Hong Kong Is Getting Its Regent Hotel BackThis morning's declaration which InterContinental Hotels Group (IHG) is acquiring a 51% stake in Regent Hotels & Resorts for $39 mn in cash on the surface is a microscopic transaction, bringing aboard a mere 6 hotels & a pipeline of only 3 further properties. IHG indeed has over 5,000 properties, many under budget & cookie cutter brands like Holiday Inn, Staybridge Suites & Crowne Plaza. From a financial perspective, in 2014, IHG paid $430 mn in cash to acquire management contracts for Kimpton's 62 locations. Marriott International's buy of Starwood Hotels & Resorts was pegged at $13 billion.

IHG Is Buying Regent Hotels And Hong Kong Is Getting Its Regent Hotel Back

InterContinental Hotels Group takes controlling stake in Regent Hotels

as declared in InterContinental Hotels Group has reported it has agreed to acquire a 51 per cent stake in Regent Hotels & Resorts for $39 mn in cash. InterContinental Hotels Group's intention is to grow the brand from 6 hotels today to over 40 hotels in key universal gateway city & resort locations over the long term. Synonymous by timeless modernity, understated luxury & intuitive service, the Regent brand has Determine the benchmark for luxury hotels globally ever ever it was founded in 1970. This initiative is supported by the creation of a Fresh dedicated division to more enhance our capabilities in this ambit & going to be funded by InterContinental Hotels Group's efficiency programme. InterContinental Hotels Group too approved that, next an extensive refurbishment because of commence in early 2020, InterContinental Hong Kong going to become a Regent Hotel in early 2021.






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