Key Developments: InterContinental Hotels Group PLC (IHG.N)

IHG.N on New York Stock Exchange

37.67USD
1 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Keong Hong Holdings Ltd 's joint venture appoints Intercontinental Hotels Group to manage its first hotel property in singapore
Wednesday, 1 Oct 2014 05:11am EDT 

Keong Hong Holdings Ltd:Says Katong Holdings Private Limited (JVC) has appointed InterContinental Hotels Group, , to manage its first hotel property in Singapore.Says under the hotel management agreement, IHG will provide the full spectrum of hotel management services, including consultancy on the design and construction of the two new-build hotels.Says Katong Holdings Private Limited (JVC), is a joint venture company set up by Keong Hong Construction Pte Ltd (KHC), a subsidiary of the company and its joint venture partners, Master Contract Services Pte. Ltd. (MCSPL) and Asia Development Pte. Ltd. (ADPL).  Full Article

InterContinental Hotels announces binding offer for InterContinental Paris-Le Grand
Thursday, 7 Aug 2014 02:01am EDT 

InterContinental Hotels Group PLC:Receives a binding offer from Constellation Hotels Holding Ltd to acquire InterContinental Paris - Le Grand (Hotel).Proposed purchase price is e330 mln ($442 mln), payable in cash at completion.To retain a 30 year management contract on the Hotel, with three 10 year extension rights at IHG's discretion, giving an expected contract length of 60 years.  Full Article

Intercontinental Hotels Group PLC announces interim dividend
Tuesday, 5 Aug 2014 02:00am EDT 

Intercontinental Hotels Group PLC:Proposes an interim dividend per ordinary share of 25 cents (14.8 pence), representing growth of 9 pct on the 2013 interim dividend.Payment date Sept. 26.Record date Aug. 22.  Full Article

Intercontinental Hotels Group PLC proposes to pay special dividend
Friday, 6 Jun 2014 10:37am EDT 

Intercontinental Hotels Group PLC:Proposing to pay special dividend of $2.93 (174.9 pence) to shareholders on register on June 30 in pounds sterling and to ADR holders on record as on June 30 in U.S. dollars.Special dividend is expected to be paid to shareholders and to holders of ADRs on July 14.  Full Article

InterContinental Hotels Group PLC announces first holiday inn express hotel for san juan, Puerto Rico
Wednesday, 2 Apr 2014 07:30pm EDT 

InterContinental Hotels Group PLC:Announced the opening of the first Holiday Inn Express hotel in the Condado district of San Juan, Puerto Rico.  Full Article

InterContinental Hotels Group PLC completes disposal of 80 pct interest in Intercontinental New York Barclay
Monday, 31 Mar 2014 08:00pm EDT 

InterContinental Hotels Group PLC:Completes acquisition by Constellation Barclay Holding US, LLC, of 80 pct interest in joint venture with InterContinental to own and refurbish InterContinental New York Barclay.InterContinental will continue to manage hotel under long-term management contract.Joint venture has raised external debt, following which InterContinental has received total gross disposal proceeds in cash of $274 mln.  Full Article

InterContinental Hotels Group completes sale of Intercontinental Mark Hopkins San Francisco
Friday, 28 Mar 2014 08:08am EDT 

InterContinental Hotels Group PLC:Completes sale of InterContinental Mark Hopkins San Francisco (the Hotel) to a joint venture between affiliates of Woodridge Capital Partners and funds managed by Oaktree Capital Management L.P.$120m gross disposal proceeds have been received in cash.Will continue to manage the Hotel under a long-term management contract.  Full Article

InterContinental Hotels Group PLC announces sale of intercontinental mark hopkins san francisco
Tuesday, 18 Feb 2014 02:00am EST 

InterContinental Hotels Group PLC:Says the sale of the 383 room InterContinental San Francisco Mark Hopkins1 (the hotel) to a joint venture between affiliates of Woodridge Capital Partners and funds managed by Oaktree Capital Management L.P.It is for $120 mln gross cash proceeds.IHG will continue to manage the hotel under a long-term management contract.This is expected to complete next month.  Full Article

InterContinental Hotels Group PLC proposes final dividend
Tuesday, 18 Feb 2014 02:00am EST 

InterContinental Hotels Group PLC:Proposes a final dividend per ordinary share of 47.0 cents (28.1 pence ).With the interim dividend per ordinary share of 23.0 cents (15.1 pence), the full-year dividend per ordinary share for 2013 will total 70.0 cents (43.2 pence), an increase of nine pct over 2012.On Oct. 4, a special dividend of 133.0 cents (87.1 pence) per ordinary share amounting to $355 mln was paid to shareholders.  Full Article

Intercontinental Hotels Group PLC announces disposal of 80 pct interest in InterContinental New York Barclay
Thursday, 19 Dec 2013 09:27am EST 

Intercontinental Hotels Group PLC:Announces that Constellation Barclay Holding US, LLC, which is an affiliate of Constellation Hotels Holding Limited, has agreed to acquire an 80 pct interest in a joint venture with IHG to own and refurbish the InterContinental New York Barclay (the Hotel).Says the 80 pct interest will be acquired for gross cash proceeds of $240 million, which values the Hotel at $300 million prior to refurbishment.Says IHG will hold the remaining 20 pct interest.IHG has secured a 30 year management contract on the Hotel, commencing in 2014, with two ten year extension rights at IHG's discretion, giving an expected contract length of 50 years.Says Constellation Barclay Holding US, LLC and IHG have agreed to invest through the joint venture in refurbishment, repositioning and extension of the Hotel.Says this is expected to commence in 2014 and will take place over a period of approximately 18 months.Says the transaction is expected to complete in the first quarter of 2014, subject to the satisfaction of certain standard conditions.Says the proceeds will be used for general corporate purposes.  Full Article

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