11th Aug 2005 09:14
InterContinental Hotels Group PLC11 August 2005 11 August 2005 INTERCONTINENTAL HOTELS GROUP ANNOUNCES SALE OF HOLIDAY INN DUBLIN AIRPORT InterContinental Hotels Group PLC ("IHG") today announces it has sold theHoliday Inn, Dublin Airport (248 rooms). The property will leave the IHG system.The hotel will be owned by Adelphi Way Developments & Investments Limited. Proceeds before transaction costs were Eur33.5 million (£23.3m), approximatelyin line with net book value. Further transaction details 1. No tax charge arises and no cash tax is expected to be payable as a result of the transaction. 2. IHG has sold the entity owning the hotel, International Airport Hotel Ltd.. Since Separation in April 2003, including today's announcement, IHG hasannounced the disposal of 126 hotels with proceeds of approximately £1.8billion. 19 properties remain on the market with a net book value ofapproximately £370 million. Disposal announced today: 2004 2003 £m £mRevenue 6.5 7.3EBITDA 1.5 2.4EBIT 1.2 1.8 Hotel RoomsHoliday Inn, Dublin Airport 248 A list of IHG's owned and leased properties detailing those disposed of, on themarket and not on the market is available at http://www.ihgplc.com/investors For further information, please contact: Investor Relations (Gavin Flynn, Paul Edgecliffe-Johnson): +44 (0) 1753 410 176 +44 (0) 7808 098 972Media Enquiries (Leslie McGibbon): +44 (0) 1753 410 425 +44 (0) 7808 094 471 Notes to Editors InterContinental Hotels Group PLC of the United Kingdom (LON:IHG, NYSE:IHG(ADRs)) is the world's largest hotel group by number of rooms. InterContinentalHotels Group owns, manages, leases or franchises, through various subsidiaries,more than 3,500 hotels and 535,000 guest rooms in nearly 100 countries andterritories around the world. The Group owns a portfolio of well recognised andrespected hotel brands including InterContinental(R) Hotels & Resorts, CrownePlaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts, Holiday InnExpress(R), Staybridge Suites(R), Candlewood Suites(R) and Hotel IndigoTM, andalso manages the world's largest hotel loyalty programme, Priority Club(R)Rewards, with over 24 million members worldwide. In addition to this,InterContinental Hotels Group has a 47.5% interest in Britvic, one of the twoleading manufacturers of soft drinks, by value and volume, in Great Britain. InterContinental Hotels Group offers information and online reservations for allits hotel brands at www.ichotelsgroup.com and information for the Priority ClubRewards programme at www.priortyclub.com . For the latest news from InterContinental Hotels Group, visit our online PressOffice at www.ihcplc.com/media . High resolution images to accompany this announcement are available for themedia to download free of charge from www.vismedia.co.uk . This includes profile shots of the key executives. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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