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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.