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


InterContinental acquires 51% of Regent Hotels and Resorts – Travel Weekly

A Fresh week, a Fresh Determine of acquisitions, now in the world of hotels. InterContinental Hotels Group (IHG) is Determine to acquire 51 per cent stake in Regent Hotels & Resorts for $39 million. According to IHG, the 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. IHG too declares today which next an extensive refurbishment because of commence in early 2020, InterContinental Hong Kong going to become a Regent Hotel in early 2021. The hotel originally unlocked its doors in 1980 as 1 of the generality iconic hotels to ever tote the Regent brand.

InterContinental acquires 51% of Regent Hotels & Resorts – Travel Weekly

IHG acquires 51% stake in Regent Hotels & Resorts for US$39m

as declared in The lobby lounge in the Regent BeijingInterContinental Hotels Group (IHG) has agreed to acquire a 51% stake in Regent Hotels & Resorts for US$39 mn in cash, & going to have the right to acquire the residual 49% interest in a phased manner from 2026. IHG going to bring Regent into its brand portfolio at the highest finish of the luxury segment & going to accelerate its development globally. Story continues belowAdvertisementIHG too uncovered which next an extensive refurbishment because of commence in early 2020, InterContinental Hong Kong going to become a Regent Hotel in early 2021. Originally built as The Regent Hong Kong in 1980, the hotel was rebranded to InterContinental Hong Kong in June 2001. We are absolutely delighted which after the refurbishment, we going to be opening our doors once once more as The Regent Hong Kong, a flagship property for the Regent brand, returning the property back to its original roots."






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