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IHG completes deal for 51% stake in Regent Hotels & Resorts

InterContinental Hotel Group has confirmed the completion of its acquisition of a 51% stake in Regent Hotels & Resorts.

Acquired for $39 million in cash, the 51% interest is payable in 3 tranches of $13 million. The first tranche has already been paid, the second is due in 2021 and the third in 2024. The remaining 49% interest could be acquired by IHG in a phased manner from 2026.

IHG wants to develop its luxury segment and has the ambition to grow the brand from 6 hotels today to over 40 hotels  worldwide in the long term.

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