InterContinental Hotels Group PLC
11 August 2005
11 August 2005
INTERCONTINENTAL HOTELS GROUP ANNOUNCES SALE OF
HOLIDAY INN DUBLIN AIRPORT
InterContinental Hotels Group PLC ("IHG") today announces it has sold the
Holiday Inn, Dublin Airport (248 rooms). The property will leave the IHG system.
The hotel will be owned by Adelphi Way Developments & Investments Limited.
Proceeds before transaction costs were Eur33.5 million (£23.3m), approximately
in line with net book value.
Further transaction details
1. No tax charge arises and no cash tax is expected to be payable as a result of
the transaction.
2. IHG has sold the entity owning the hotel, International Airport Hotel Ltd..
Since Separation in April 2003, including today's announcement, IHG has
announced the disposal of 126 hotels with proceeds of approximately £1.8
billion. 19 properties remain on the market with a net book value of
approximately £370 million.
Disposal announced today:
2004 2003
£m £m
Revenue 6.5 7.3
EBITDA 1.5 2.4
EBIT 1.2 1.8
Hotel Rooms
Holiday Inn, Dublin Airport 248
A list of IHG's owned and leased properties detailing those disposed of, on the
market and not on the market is available at http://www.ihgplc.com/investors
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 410 425
+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 group by number of rooms. InterContinental
Hotels Group owns, manages, leases or franchises, through various subsidiaries,
more than 3,500 hotels and 535,000 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 programme, Priority Club(R)
Rewards, with over 24 million members worldwide. In addition to this,
InterContinental Hotels Group has a 47.5% interest in Britvic, one of the two
leading manufacturers of soft drinks, by value and volume, in Great Britain.
InterContinental Hotels Group offers information and online reservations for all
its hotel brands at www.ichotelsgroup.com and information for the Priority Club
Rewards programme at www.priortyclub.com .
For the latest news from InterContinental Hotels Group, visit our online Press
Office at www.ihcplc.com/media .
High resolution images to accompany this announcement are available for the
media to download free of charge from www.vismedia.co.uk . This includes profile
shots of the key executives.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.