• Barclay deal

IHG has sold an 80% stake in the InterContinental New York Barclay hotel. A deal with Constellation Hotels for USD240m also commits the partners to a major investment to upgrade and extend the hotel.

IHG has signed a new 30 year management contract starting next year, with two ten year extension options. The refit and repositioning of the property will start in 2014 and last over 18 months.
Read the full story here:
http://www.ihgplc.com/index.asp?PageID=116&NewsID=3113

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