Despite InterContinental’s real estate sell-off, there are a handful of hotels where re-entry would be impossible, and these will be retained, says InterContinental’s Richard Hartman. The elite list includes properties London, Paris, New York, Boston and Hong Kong.
But, aside from these, says Hartman, who was a speaker on the first day of the 9th International Hotel Investment Forum 2006, the group hopes to have completed its disposal programme by the end of 2006.
Meanwhile, the volume of new management and franchise deals has been growing fastest than ever.
At ITB InterContinental says it has 108,500-rooms in over 880 hotels in its global pipeline, with 50,000-60,000 of these due to be operational by the end of 2008.