In July 2012, the Office of Fair Trading alleged that IHG had broken competition law by preventing online travel agents from discounting the price of room-only hotel accommodations. According to campaigners from the Free Tibet campaign, the hotel was a "PR coup for the Chinese government." Price fixing The InterContinental Hotels Group became the target of an international boycott campaign in May 2013 over their plan to operate an InterContinental-brand luxury hotel in Lhasa, Tibet. IHG has 18 brands marketed under five segments: BrandĬriticism International boycott As of 31 March 2019, IHG has 842,759 guest rooms and 5,656 hotels across nearly 100 countries. In 2012, IHG claimed more than 5,400 hotels, with 4,433 operated under franchise agreements, 907 managed by the company but separately owned and eight directly owned. IHG maintains regional offices in Atlanta, Singapore and Shanghai. The company's worldwide headquarters and European offices are located in Windsor, Berkshire England. In 2015, IHG acquired Kimpton Hotels, a boutique hotel brand with 62 managed properties, for $430 million. IHG divested its soft drink holdings in 2005, selling its 48 percent stake in Britvic for £371 million through an initial public offering. In 2004, IHG acquired the Candlewood Suites brand, a midscale extended stay hotel brand with 108 franchised properties in the United States, for $15 million. From 2003 to 2015, the company sold around 200 hotels for a total of almost $8 billion, leaving only 7 owned or leased properties in the portfolio. Īfter the separation from Six Continents, IHG began an asset disposal program, selling off hotels to move towards an "asset-light" model focused on franchising and management. Of those, 190 were owned or leased by the company, with the remainder under management or franchise agreements. IHG's hotel portfolio at the time comprised 3,325 properties, primarily under the Holiday Inn, Crowne Plaza, and InterContinental brands. The split was completed on 15 April 2003, establishing InterContinental Hotels Group as an independent company, alongside the pub company, Mitchells & Butlers. Six Continents announced in October 2002 that it would split itself in two, with one company holding its pubs and restaurants, and the other holding its hotel and soft drink businesses. īass changed its name to Six Continents in 2001, after having sold its brewing assets and the Bass name, and Bass Hotels & Resorts became Six Continents Hotels. The hotel division was then renamed from Holiday Hospitality to Bass Hotels & Resorts, to reflect its expansion beyond the Holiday Inn brand. Bass expanded its hotel business again in 1998, acquiring the luxury Inter-Continental hotel chain from the Saison Group. Bass sold off the bulk of Crest Hotels in 1990, and the few remaining properties were absorbed into the Holiday Inn chain. In 1988, after the British government limited the number of pubs that brewers could directly own, Bass further invested in the expansion of its hotel business with the purchase of Holiday Inn International from shareholders. In 1969, it launched the Crest Hotels chain. Its first entry into the lodging sector came with acquisition of tied public houses. The company later changed its name to Bass Charrington. The origins of the business may be traced to 1777 when William Bass established the Bass Brewery in Burton-upon-Trent. It is also a constituent of the FTSE 100 Index. It is listed on the London Stock Exchange and the New York Stock Exchange. Demand for regional hotels in key locations remains robust and we continue to see a variety of investor types seeking to deploy capital into the sector."Īnil Khanna, owner of KE Hotels, added: "We will be looking to invest in the hotel and securing its position as one of the leading boutique hotels in the city.InterContinental Hotels Group ( IHG), marketed as IHG Hotels & Resorts, is a British multinational hospitality company headquartered in Windsor, England. Gavin Wright, senior director for hotels at JLL, who advised on the sale, said: "Newcastle is one of the fastest-growing regional economies with £1.5b of investment planned confirmed by the City Council. It is run as part of a franchise agreement with Intercontinental Hotels Group. It features a ground floor bar, restaurant area, health and fitness centre, and a car park with 102 spaces. Hotel Indigo Newcastle opened in June 2012 following its conversion from a four-storey office building. It will be the third UK property under the KE Hotels portfolio, which includes Marriott Moxy Hotel Manchester City and Linton Lodge hotel in Oxford. Independent hotel owner KE Hotels has purchased the 148-bedroom Hotel Indigo Newcastle for an undisclosed sum.
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