• Issue 915

Conversions pay for Choice

Choice Hotels raised ebitda 8% in the fourth quarter, despite domestic revpar being hit by the US government shutdown. The results showed a 14% increase in conversion franchise agreements, with that figure expected to improve further.

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Frustration for IHG

Richard Solomons, chief executive of IHG, has expressed frustration at the short term attitude of investors, after a share price fall. Analysts had hoped IHG would return more cash to shareholders, in year end results just announced, reports the London Times.

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Price parity win in US

A US court has dismissed claims of price fixing by OTAs and hotel groups. A Dallas judge said agreements between chains and OTAs were not anti-competitive, but “rational”, reports Reuters.

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San Francisco sale

IHG has sold its InterContinental hotel in San Francisco for USD120m. The buyers of the 383 room hotel are Woodridge Capital Partners and Oaktree Capital Management.

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