InterContinental Hotels Group today announces it has sold the Holiday
Inn, Dublin Airport (248 rooms). The property will leave the IHG system. The hotel
will be owned and operated by Adelphi Way Developments & Investments Limited.Proceeds before transaction costs were Eur33.5 million (£23.3m), approximately in
line with net book value.
Since Separation in April 2003, including today’s announcement, IHG has announced
the disposal of 126 hotels with proceeds of approximately £1.8 billion. 19
properties remain on the market with a net book value of approximately £370 million.