InterContinental Hotels Group adds portfolio of five Holiday Inn hotels in the UK
Tuesday, July 12, 2005
InterContinental Hotels Group PLC (IHG) announces the signing of a franchise agreement for five Holiday Inn hotels in the UK owned by Stardon, a joint venture company formed between Starwood Capital Europe and Chardon Hotels.
The hotels, managed by Chardon Management, will undergo significant refurbishment to meet Holiday Inn brand standards, and will be operated under a twenty year franchise agreement.
Andrew Cosslett, Chief Executive Officer of InterContinental Hotels Group, commented:
The Holiday Inn UK portfolio now stands at 100 hotels and continues to out perform the market. We are delighted to be working with Starwood Capital Europe and Chardon who are both well respected in the hospitality industry.
Maurice Taylor, Director, Stardon and Chief Executive, Chardon Management, commented:
We are delighted to be growing the number of properties we operate with IHG. Our commitment to Holiday Inn extends back over 12 years and during this time we have been successfully involved in all areas of the brand as an experienced hotel operator and franchisee. Having considered all options currently available, with a global brand and highly developed support system, IHG offer the best franchise option for these hotels.
Rania Deimezi
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Tuesday, July 12, 2005
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