InterContinental Hotels: acquires Regent Hotels & Resorts
(CercleFinance.com) - InterContinental Hotels Group has announced an agreement for the acquisition of a 51% stake in the capital of Regent Hotels and Resorts for 39 million dollars in cash, with an option to buy the remaining 49% gradually as from 2026.
The British hotel chain intends to advance the brand acquired by expanding from its current number of six hotels to over 40 hotels in cities or key tourist destinations over the long term.
The transaction is scheduled to close in the second quarter of 2018, after satisfying certain customary conditions.
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The British hotel chain intends to advance the brand acquired by expanding from its current number of six hotels to over 40 hotels in cities or key tourist destinations over the long term.
The transaction is scheduled to close in the second quarter of 2018, after satisfying certain customary conditions.
Copyright (c) 2018 CercleFinance.com. All rights reserved.