• 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.

IHG will continue to manage the property as an InterContinental, which it has traded as since 1973. The new owners have agreed to invest USD20m in refurbishing and improving the property.
Read the full story here:
http://www.ihgplc.com/index.asp?PageID=116&NewsID=3147

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