ANA may sell hotels to InterConti

31st May 2006

All Nippon Airways Co. is considering selling more than half of its hotel business arm, ANA Hotels & Resorts Co., to InterContinental Hotels Group PLC of Britain, ANA sources told Kyodo news agency. The sales of the controlling stake in ANA Hotels & Resorts would amount to the effective sales of the ANA group’s hotel operations to the British hotel chain operator, known for its Holiday Inn Hotels and Crowne Plaza Resort Hotels, the sources said.

Through the planned tie-up, ANA wants to dispose of the greatest portion of its business resources behind its mainline aviation businesses, although it plans to maintain its exclusive ANA Hotel brand, the sources said.

ANA runs a domestic network of 33 hotels in addition to two overseas hotels.

ANA is looking to form business and capital tie-ups with InterContinental, they said.



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