4th Mar 2005 07:00
InterContinental Hotels Group PLC04 March 2005 4 March 2005 INTERCONTINENTAL HOTELS GROUP ANNOUNCES SALE OF CROWNE PLAZA AMERICAN HOTEL, AMSTERDAM InterContinental Hotels Group PLC ("IHG") today announces it has sold the CrownePlaza, American in Amsterdam to The Eden Hotel Group, for Euro 37 million (£25million), equivalent to net book value. The transaction, a sale of the companywhich owns the hotel, completed today. Proceeds will be used for generalcorporate purposes. The Crowne Plaza, American (174 rooms) will leave the IHG system. Further transaction details 1. No tax is payable on IHG's sale of the company which owns Crowne Plaza American. Since Separation in April 2003, including today's announcement, IHG has sold oragreed to sell 48 hotels with proceeds of approximately £750 million. 89properties remain on the market with a net book value of £1.5 billion. Crowne Plaza American, Amsterdam disposal announced today: 2004e 2003 £m £m Revenue 7.9 7.7EBITDA 2.4 2.2EBIT 1.7 1.3 Hotels disposed of or agreed to be disposed of since separation: Hotel Location Rooms IC Austin US 189IC Central Park South US 208IC Chicago US 807IC Houston US 485IC Miami US 641IC San Juan Puerto Rico 402IC Toronto Canada 210IC Mayfair UK 289CP Amsterdam Netherlands 174CP Hilton Head US 340CP Los Angeles Airport US 613CP Redondo Beach US 346CP White Plains US 401CP Midland Manchester UK 303CP Vanuatu Vanuatu 140HI Anaheim US 264HI Atlanta Airport US 190HI Memphis US 243HI South Bend US 229HI Gatwick Crawley UK 217HI Middlesbrough/Teeside UK 134HI Preston UK 129HI Plymouth UK 112HI Sheffield West UK 138HI Swansea UK 106HI Adelaide Australia 193HI Darwin Australia 183HI Newcastle Australia 72SBS Alpharetta US 118SBS Anaheim US 143SBS Atlanta Perimeter US 143SBS Auburn Hills US 118SBS Austin US 121SBS Boston US 133SBS Burlington US 141SBS Carmel Mountain US 116SBS Charlotte US 117SBS Columbia US 118SBS Denver US 115SBS Eatontown US 131SBS Fort Lauderdale US 141SBS Houston Galleria US 93SBS Myrtle Beach US 119SBS Portland US 117SBS San Antonio US 118SBS Sorrento US 131SBS Toronto Markham Canada 120Posthouse Epping UK 79Total 48 10,190 For further information, please contact: Investor Relations (Gavin Flynn, Paul Edgecliffe-Johnson): +44 (0) 1753 410 176 +44 (0) 7808 098 972 Media Enquiries (Leslie McGibbon): +44 (0) 1753 410 423 +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 company by number of rooms.InterContinental Hotels Group franchises, manages, leases or owns, throughvarious subsidiaries, more than 3,500 hotels and 536,000 guest rooms in nearly100 countries and territories around the world. The Group owns a portfolio ofwell recognised and respected hotel brands including InterContinental(R) Hotels& Resorts, Crowne Plaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts,Holiday Inn Express(R), Staybridge Suites(R), Candlewood Suites(R) and HotelIndigoTM, and also manages the world's largest hotel loyalty program, PriorityClub(R) Rewards, with more than 23 million members worldwide. In addition tothis, InterContinental Hotels Group has a controlling interest in Britvic, thesecond largest soft drinks manufacturer in the UK. For the latest news from InterContinental Hotels Group, visit our online PressOffice at www.ihgplc.com/media This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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