InterContinental Hotels Group has announced it has sold its 33.3%
interest in the Crowne Plaza London - The City to Grupo Statuto, a leading Italian
real estate investor.The hotel has been sold for gross proceeds of £81m. IHG’s net
proceeds after debt repayments are £18m, £11m in excess of net book value.
The Crowne Plaza London ?- The City (203 rooms) has been sold with a 17 year Crowne
Plaza management agreement, with a 5 year renewal option.