Intercontinental Hotels Group Plc, one of the world’s largest hoteliers, is exploring strategic options including a potential sale or merger, Bloomberg reported yesterday.
IHG is discussing with financial advisers whether to sell itself or combine with a competitor as the sector consolidates, Bloomberg reported, citing people with knowledge of the matter.
Shares in IHG climbed five per cent to a 4-month high of 2,741 pence, valuing the company at about £6.2 billion. The stock was the top riser on Britain’s FTSE 100 index.
The company, which runs over 4,900 hotels – including one in Malta – under brands such as Crowne Plaza, Holiday Inn and InterContinental, declined to comment on the report.
IHG said last month it was confident in its outlook after reporting higher-than-expected growth in its third quarter.
The hotelier in July declined it was in deal talks with rival Starwood Hotels & Resorts Worldwide Inc.