11th Sep 2006 14:51
InterContinental Hotels Group PLC11 September 2006 11 September 2006 INTERCONTINENTAL HOTELS GROUP COMPLETION ON SALE OF 7 INTERCONTINENTAL HOTELS InterContinental Hotels Group ("IHG") announces the completion on the disposalof seven InterContinental branded hotels (2,537 rooms) being sold in ContinentalEurope to Morgan Stanley Real Estate Funds ("MSREF"), the terms of which wereannounced on 13 July 2006. €634m (£440 million(1)) disposal proceeds have been received in cash. For further information, please contact: Investor Relations (Paul Edgecliffe-Johnson) +44 (0) 1753 410 176 Media Affairs (Leslie McGibbon) +44 (0) 1753 410 425 Note 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,over 3,650 hotels and 540,000 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 Indigo(R), andalso manages the world's largest hotel loyalty programme, Priority Club(R)Rewards with over 28 million members worldwide. 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.priorityclub.com. For the latest news from InterContinental Hotels Group, visit our online PressOffice at www.ihgplc.com/media Morgan Stanley Real Estate is comprised of three major global businesses:Investing, Banking, and Lending. Since 1991, Morgan Stanley has acquired $87.7billion of real estate assets worldwide and currently manages $50.9 billion inreal estate assets on behalf of its clients. In addition, Morgan Stanley RealEstate provides a complete range of market-leading investment banking servicesto its clients including advice on strategy, mergers, acquisitions andrestructurings, as well as underwriting public and private debt and equityfinancings. Morgan Stanley is also a global leader in real estate lending and,using its own capital, originated approximately $28 billion in commercialmortgages in 2005. For more information about Morgan Stanley Real Estate, go towww.morganstanley.com/realestate. Morgan Stanley (NYSE: MS) is a global financial services firm and a marketleader in securities, investment management, and credit services. With more than600 offices in 30 countries, Morgan Stanley connects people, ideas and capitalto help clients achieve their financial aspirations. -------------------------- (1) Exchange rate as of 10 July 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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