IHG dismisses speculation on sale or merger

IHG “is not considering a potential sale or merger”
IHG has released a one-sentence statement dismissing media speculation that it was studying strategic options for a sale or merger.
“Following recent market speculation,” it said, “the Board of Directors of IHG states that it is not considering a potential sale or merger of the company.”
As the hospitality sector consolidates, Bloomberg had reported on Friday that IHG, one of the world’s biggest hotel giants with almost 5,000 properties, was in discussions with financial advisers over putting itself up for sale or merging with a competitor.
The company is valued at around 6.2 billion pounds (€8.5 billion) according to its London-listed shares.
IHG’s portfolio of brands includes InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, HUALUXE Hotels and Resorts, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
The company franchises, leases, manages or owns more than 4,900 hotels and 724,000 guest rooms in almost 100 countries, with almost 1,300 hotels in its development pipeline.

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