InterContinental Hotels Group PLC
04 March 2005
4 March 2005
INTERCONTINENTAL HOTELS GROUP ANNOUNCES SALE OF
CROWNE PLAZA AMERICAN HOTEL, AMSTERDAM
InterContinental Hotels Group PLC ("IHG") today announces it has sold the Crowne
Plaza, American in Amsterdam to The Eden Hotel Group, for Euro 37 million (£25
million), equivalent to net book value. The transaction, a sale of the company
which owns the hotel, completed today. Proceeds will be used for general
corporate purposes.
The Crowne Plaza, American (174 rooms) will leave the IHG system.
Further transaction details
1. No tax is payable on IHG's sale of the company which owns Crowne Plaza
American.
Since Separation in April 2003, including today's announcement, IHG has sold or
agreed to sell 48 hotels with proceeds of approximately £750 million. 89
properties remain on the market with a net book value of £1.5 billion.
Crowne Plaza American, Amsterdam disposal announced today:
2004e 2003
£m £m
Revenue 7.9 7.7
EBITDA 2.4 2.2
EBIT 1.7 1.3
Hotels disposed of or agreed to be disposed of since separation:
Hotel Location Rooms
IC Austin US 189
IC Central Park South US 208
IC Chicago US 807
IC Houston US 485
IC Miami US 641
IC San Juan Puerto Rico 402
IC Toronto Canada 210
IC Mayfair UK 289
CP Amsterdam Netherlands 174
CP Hilton Head US 340
CP Los Angeles Airport US 613
CP Redondo Beach US 346
CP White Plains US 401
CP Midland Manchester UK 303
CP Vanuatu Vanuatu 140
HI Anaheim US 264
HI Atlanta Airport US 190
HI Memphis US 243
HI South Bend US 229
HI Gatwick Crawley UK 217
HI Middlesbrough/Teeside UK 134
HI Preston UK 129
HI Plymouth UK 112
HI Sheffield West UK 138
HI Swansea UK 106
HI Adelaide Australia 193
HI Darwin Australia 183
HI Newcastle Australia 72
SBS Alpharetta US 118
SBS Anaheim US 143
SBS Atlanta Perimeter US 143
SBS Auburn Hills US 118
SBS Austin US 121
SBS Boston US 133
SBS Burlington US 141
SBS Carmel Mountain US 116
SBS Charlotte US 117
SBS Columbia US 118
SBS Denver US 115
SBS Eatontown US 131
SBS Fort Lauderdale US 141
SBS Houston Galleria US 93
SBS Myrtle Beach US 119
SBS Portland US 117
SBS San Antonio US 118
SBS Sorrento US 131
SBS Toronto Markham Canada 120
Posthouse Epping UK 79
Total 48 10,190
For further information, please contact:
Investor Relations (Gavin Flynn, Paul Edgecliffe-Johnson): +44 (0) 1753 410 176
+44 (0) 7808 098 972
Media Enquiries (Leslie McGibbon): +44 (0) 1753 410 423
+44 (0) 7808 094 471
Notes to Editors
InterContinental Hotels Group PLC of the United Kingdom (LON:IHG, NYSE:IHG
(ADRs)) is the world's largest hotel company by number of rooms.
InterContinental Hotels Group franchises, manages, leases or owns, through
various subsidiaries, more than 3,500 hotels and 536,000 guest rooms in nearly
100 countries and territories around the world. The Group owns a portfolio of
well recognised and respected hotel brands including InterContinental(R) Hotels
& Resorts, Crowne Plaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts,
Holiday Inn Express(R), Staybridge Suites(R), Candlewood Suites(R) and Hotel
IndigoTM, and also manages the world's largest hotel loyalty program, Priority
Club(R) Rewards, with more than 23 million members worldwide. In addition to
this, InterContinental Hotels Group has a controlling interest in Britvic, the
second largest soft drinks manufacturer in the UK.
For the latest news from InterContinental Hotels Group, visit our online Press
Office at www.ihgplc.com/media
This information is provided by RNS
The company news service from the London Stock Exchange
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