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Intercontinental Hotels Group PLC Announces Sale Of Intercontinental London Park Lane For GBP301.5 Million

Thursday, 28 Mar 2013 03:02am EDT 

Intercontinental Hotels Group PLC announced that it has agreed to sell InterContinental London Park Lane (the Hotel) to Constellation Hotel (Opco) UK S.A., which is an affiliate of Constellation Hotels Holding Limited, a Middle Eastern private investment group. IHG's leasehold interest in the Hotel has been sold for gross cash proceeds of GBP301.5 million ($457 million), 62% above December 31, 2012 net book value. 

Company Quote

26.0 +1.01%
19 Dec 2014