International Hotel Investments p.l.c. plans to issue new shares through a public offering on a major international stock exchange as soon as market conditions are right, it announced in a company statement.

The company’s advisors and underwriters are recommending to target this issue of new shares at an appropriate time in 2011, given current challenging market conditions which have significantly limited IPO activity throughout 2010.

The company said that the opening of the landmark Corinthia Hotel & Residences in central London, scheduled for April, will also benefit IHI from an increased profile and visibility in the United Kingdom, and will further support price expectations.

Legal and due diligence work related to a listing on a major international exchange is ongoing in order that IHI is fully prepared to launch its international public offering.

Meanwhile, in anticipation of this new public offering, the Board of Directors believes that efforts to issue new equity in the company should proceed by way of private placement to institutional and high-net worth investors.

To this end, senior executives from the Company are currently meeting institutional investors and high net worth investors globally. The objective is to conclude share participation agreements at a price superior to the nominal value of €1 per share.