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Completion on Sale of 7 InterContinental Hotels

Completion on Sale of 7 InterContinental Hotels

Category: Europe
This is a press release selected by our editorial committee and published online for free on 2006-09-12

InterContinental Hotels Group ("IHG") announces the completion on the disposal of seven InterContinental branded hotels (2,537 rooms) being sold in Continental Europe to Morgan Stanley Real Estate Funds (“MSREF”), the terms of which were announced on 13 July 2006.

€634m (£440 million1) disposal proceeds have been received in cash.



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