IHG has agreed to acquire a 51 stake in Regent Ho

first_imgIHG has agreed to acquire a 51% stake in Regent Hotels and Resorts for $39 million in cash. The hotel group will bring Regent into its brand portfolio at the top end of the luxury segment and intends to grow the brand from six hotels today to over 40 hotels in key global gateway city and resort locations over the long term.“IHG is already one of the world leaders in luxury with our InterContinental Hotels and Resorts brand, but we see significant potential to further develop our global footprint in the fast-growing luxury segment,” said Keith Barr, Chief Executive Officer of IHG. “As one of the pioneers in defining luxury hotels both in Asia and around the world, Regent is an excellent addition to IHG’s portfolio of brands. We see a real opportunity to unlock Regent’s enormous potential and accelerate its growth globally. In addition, by creating a dedicated luxury division, we will be bringing together some of the most experienced and respected people in the industry who will help drive our luxury offer, ensuring that our existing luxury brands continue to evolve and allowing us to bring in new brands such as Regent to enhance our brand portfolio.”IMAGE: Lobby of The Regent, Berlin IHGRegent Hotelslast_img

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