InterContinental Hotels Group Says It’s Not For Sale
InterContinental Hotels Group, the world’s largest hotelier, said late Friday that it is not seeking a merger or sale of the company. The statement followed reports in the media that the company was reviewing options to either put itself up for sale or join forces with a competitor.
“Following recent market speculation, the Board of Directors of IHG states that it is not considering a potential sale or merger of the company,” said IHG in a statement.
In April, Starwood Hotels and Resorts Worldwide, the world’s seventh largest hotel group, said it was exploring options that included selling itself to a suitor.
IHG operates almost 5,000 properties with over 710,000 rooms in nearly 100 countries across the globe. Its brands include Holiday Inn, Crowne Plaza, InterContinental, and Kimpton, which it acquired in January 2015.
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