InterContinental Hotels Group announced today that they have acquired ad 51% stake in Regent Hotels and Resorts for $39 Million, “expanding their luxury footprint.” They plan to acquire the remaining percentage down the road. Let’s take a look at Regent Hotels and Resorts.
IHG Acquires Stake In New Brand
InterContinental Hotels Group (“IHG”) [LON:IHG, NYSE:IHG (ADRs)] today announces that it has agreed to acquire a 51% stake in Regent Hotels and Resorts (“Regent”) for $39 million in cash. IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026.
IHG will bring Regent into its brand portfolio at the top end of the luxury segment and will accelerate its growth globally, supported by IHG’s powerful enterprise. IHG’s intention is to grow the brand from six hotels today to over 40 hotels in key global gateway city and resort locations over the long term.
Regent Hotels and Resorts
Regent has hotels in the following locations:
- Porto Montenegro
- Jakarta (2018)
- Harbin (2019)
- Phu Quoc (2020)
It will be really interesting to see if Regent will be fully integrated into IHG Rewards Club. They have so few hotels that it is not overly exciting to me either way. But, I guess adding luxury hotels to a portfolio, especially if you can use IHG points is always good.