After a first attempt to sell the New York hotel in 2011, IHG has decided to put the property back on the market this year. The future owner must commit himself in engaging an intensive renovation programme.
The IHG group announced that it will put the InterContinental Barclay of New-York back for sale this year. Placed on the market for hotel transactions in 2011, the hotel was withdrawn from sale after the failure of negotiations with the Qatari businessman Ghanim Bin Saad Al Saad, who is also the CEO of the Qatari Diar fund.
When looking for a new buyer, the hotel group will ask him to commit himself in the renovation of the property to maintain the level of standards associated with the InterContinental brand. The plan includes creating new meeting rooms and intensive renovation of the guest rooms and public areas, up to $100 million.
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