InterContinental Hotels Group has big plans for Regent Hotels & Resorts after buying a 51% stake.
InterContinental Hotels Group says it has agreed to buy a 51% majority stake in Regent Hotels & Resorts for $39 million and plans to expand the brand’s footprints from six to 40 hotels.
IHG will bring Regent into its brand portfolio at the top end of the luxury segment and accelerate its growth globally. It will have the right to buy the remaining 49% from 2026.
The Regent brand is “synonymous with timeless modernity, understated luxury and intuitive service” and “has a world-renowned heritage built around the elegant, timeless design of its hotels”, IHG says.
The acquisition is part of one of IHG’s new strategic initiatives focused on continuing to expand its presence in the fast-growing luxury segment.
The initiative is supported by the creation of a “new dedicated division” to further enhance its capabilities in this area.
What is Regent?
Regent Hotels & Resorts is a Taiwan-based luxury chain operating hotels in Asia and Europe. As an example of its perceived quality, in 2011 all Regent managed hotels were named in the Condé Nast Traveller’s Readers’ Choice Awards – the first hospitality company to achieve this.
Founded in 1970, Regent has been owned at various stages by Four Seasons and Carlson Rezidor (now Radisson Hotel Group) and also had a cruise brand, which is not a subsidiary of Norwegian Cruise Line. IHG bought its 51% stake in the hotel company from Formosa International, the largest listed hotel operator in Taiwan.
In Europe, its properties are the Regent Berlin and the Regent Porto Montenegro. In Asia, they are in Taipei, Beijing, Chongqing and Singapore.
Later this year, Regents will open in Jakarta, Harbin, Ningbo and Suzhou. In 2020, the first Regents will open in US cities, in New York and Boston.
The following year, Regent will return to Hong Kong. Following extensive refurbishment, the InterContinental Hong Kong will become a Regent in early 2021. This hotel originally opened its doors carrying the Regent brand in 1980.