InterContinental Hotels Group (IHG) has confirmed that its acquisition of a 51% stake in Regent Hotels & Resorts (‘Regent’) has now been completed.
The 51% interest has been acquired for $39 million in cash, payable in three tranches of $13 million. $13 million was paid on completion, with the second amount due in 2021 and the third in 2024.
IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026.
IHG will bring Regent into its brand portfolio at the top end of the luxury segment and will accelerate its growth globally, supported by IHG’s powerful enterprise.
IHG plans to grow the brand from six hotels today to over 40 hotels in key global gateway city and resort locations over the long term.
IHG is already a global leader in the luxury segment with the world’s largest luxury brand, InterContinental® Hotels & Resorts. The acquisition of Regent is in line with IHG’s focus on expanding its footprint in the fast-growing $60 billion luxury segment.
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Wonderful event and topics discussed, hopefully we see the manifestations in our African airline businesses in the nearest future. Kudos to you all.
Hi, I'm Lucy. Please how do I embark on my travel/ tour business. I am newbie and help..
Prices in the Sol Torremolinos Don Pablo are the same than two weeks ago.
Good location astounding but the staffs are rude and they make me wait so long for the service. They charge me more than what is on the website and did not refund me the manager is not helping with the issue
WoW. Amazing Review. 👍
I spent the holidays here, I don't know why but during the holidays their reception smells like a piss Id rather not spend my special occasions here
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