InterContinental Hotels Group yesterday sold its 16th hotel in three months, netting £25m for the disposal of the Crowne Plaza American in Amsterdam to The Eden Hotel Group.
IHG disposed of the company that owned the hotel in a variation of its usual strategy of offloading hotels while retaining their management contracts.
IHG will use the proceeds for “general corporate purposes”.
References: Financial Times 05/03/05 page M2, The Times Business 05/03/05 page 59
