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Disposal Newsflow
Hotel / Portfolio Buyer Price Further Detail
13 Jul 06 Sale of 7 InterContinental hotels in Continental Morgan Stanley Real €634m Sold with 30 year management contracts with two 10 year
Europe Estate Funds renewals.
13 Mar 06 Sale of 24 Continental European hotels Westbridge Hospitality €352m Sold with 15 year franchise contracts. Proceeds to IHG are
Fund €345.2m with the balance €6.8m relating to 3rd party
minority interests.
31 Jan 06 European InterContinental portfolio 7 InterContinentals placed on the market
25 Jan 06 SBS Las Colinas & HI Montego Bay, Jamaica HPT $35m Sold to HPT with management contract, subject to final due
diligence
24 Nov 05 CP Birmingham City Centre Island Birmingham £24.4m Sold with a 20 year Crowne Plaza franchise agreement
1 Nov 05 IC Paris & ANZ Portfolio completion See below Legal completion of previoiusly announced disposals.
8 Sep 05 IC Paris GIC €315m Expected to complete in quarter 4, hotel will leave the
system.
1 Sep 05 ANZ Portfolio of 9 hotels Eureka Funds £164m Sold with 10 year management contract with option to
Management extend for further 10 years
1 Sep 05 HI Suva, Fiji Fiji National Provident Fund £6m Sold with 10 year management contract with option to
extend for further 10 years
11 Aug 05 HI Dublin Airport Adelphi Way Developments €33.5m Sale of the company which owns the Holiday Inn. Hotel will
& Investments leave the system.
23 Jun 05 IC George Edinburgh Principal Hotels £34m Will be operated as part of the Principal Hotels portfolio
23 Jun 05 CP Brussels Europa Atenor Group Sold with CP franchise agreement
25 May 05 CP United Nations, New York Halifax Holdings $34m Sold with a 10 year Crowne Plaza franchise agreement.
25 May 05 73 UK properties LRG Acquisition Ltd Completion with receipt of £960m cash
4 Apr 05 10 assets in Asia Pacific predominantly in Placed on the market
Australia
4 Apr 05 IC Miami & IC Chicago Strategic Hotel Capital Completion with receipt of $287m cash
10 Mar 05 73 UK properties LRG Acquisition Ltd £1bn Sale of 73 hotels with management contracts (with
estimated fees of £12m per annum in the first full year). 20
yr management contracts with 2 options to extend for 5
years.
4 Mar 05 CP American Amsterdam The Eden Hotel Group €37m Sale of the company which owns the Crowne Plaza. The
hotel will leave the system
28 Feb 05 IC Miami & IC Chicago Strategic Hotel Capital $287m Sale of 85% interest in the hotels. 20 year management
contract retained
17 Feb 05 12 North American hotels HPT Completion of 12 of 13 sold to HPT. IC Austin still to
complete
17 Dec 04 13 North American hotels HPT $450m Signed long term management contracts with $25m of
proceeds to be invested in the hotels over the next 3 years.
Existing guarantee with HPT increased by $5m. This will
burn off over time.
9 Sep 04 76 hotels predominantly in the UK and including Placed on the market
IC Paris
12 Jul 04 20 hotels in North America Placed on the market
15 Mar 04 IC Central Park South, New York Anbau Enterprises Inc $63.5m Sold, hotel will leave the system
1 Feb 04 CP Midland Manchester Quintessential Hotels Ltd £20m IHG sold its share of Midland Hotel and Conference Centre
Limited (the holding company for the Crowne Plaza The
Midland Manchester) to Quintessential Hotels Limited.
22 Aug 03 IC Mayfair, London Radisson Edwardian Hotels £115m Sold, hotel will leave the system
1 Jul 03 16 Staybridge Suites in US Hospitality Properties Trust $185m Management contract retained on all assets for 20 years
(HPT) with options to extend. Guarantee given of $50m which
burns off over time.
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