IHG released a one sentence statement on Friday, 6 November, refuting media speculation that was looking at its strategic options for a possible sale or merger.
“Following recent market speculation, the Board of Directors of IHG states that it is not considering a potential sale or merger of the company.”
Bloomberg had reported earlier in the day that IHG was in discussions with its financial advisers over whether to put itself up for sale or combine with a competitor as the sector consolidates. London-listed shares in IHG climbed 6.2 percent to a four-month high of 2,744 pence, valuing the company at about 6.2 billion pounds.
IHG’s portfolio of hotel brands, includes InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, HUALUXE Hotels and Resorts, Crowne Plaza Hotels & Resorts, Hotel Indigo, EVEN Hotels, Holiday Inn Hotels & Resorts, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
The company currently franchises, leases, manages or owns more than 4,900 hotels and 724,000 guest rooms in nearly 100 countries, with almost 1,300 hotels in its development pipeline. More than 350,000 people work across IHG’s hotels and corporate offices globally.
