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Franchise News Article
13.09.2008
InterContinental Hotels Group sells its Holiday Inn Jamaica
InterContinental Hotels Group PLC recently announced that it has sold its 524-room Jamaica Holiday Inn Sunspree Hotel to Octagon Hotels Group Limited. According to the information given, the property, which is located in Montego Bay St. James, has been sold with a 10-year Holiday Inn franchise agreement.
The sale is, the company says, a continuation of its strategy to grow its management and franchise businesses and reduce asset ownership. Since 2003, IHG has disposed of 182 hotels globally.
InterContinental Hotels Group is, it says, the world’s largest hotel group by number of rooms. It owns, manages, leases or franchises, through various subsidiaries, over 4,000 hotels in nearly 100 countries and territories around the world. IHG has more than 1,700 hotels in its development pipeline, which will create 150,000 jobs worldwide over the next few years. (kbp)
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