InterContinental Hotels Group has sold IHG’s ownership interest in InterContinental Hong Kong to Supreme Key Ltd for £608m.
Supreme Key Ltd is a consortium of investors advised and managed by Gaw Capital Partners.
Gaw has committed to investing in a refurbishment of the hotel, which is expected to commence in 2017 and will take approximately 18 months.
IHG will retain a 37-year management contract on the hotel, with three 10-year extension rights, giving an expected contract length of 67 years.
