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Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile
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Intercontinental Hotels Group PLC Wants New Bids For NY's Barclay Hotel-Reuters

Tuesday, 6 Nov 2012 05:21am EST 

Reuters reported that InterContinental Hotels has failed to seal the sale of its Barclay hotel in midtown Manhattan and is seeking new bids after exclusive talks with a prospective buyer proved inconclusive. The 1920s New York hotel had been expected to fetch around $300 million and analysts had previously identified Qatari hotel owner Ghanim Bin Saad Al Saad as the likely purchaser. InterContinental executives put a positive spin on the delay, saying the New York property market had strengthened this year and several rival prospective bidders had come forward in recent months.