Summary
Hotels group InterContinental is to sell a further 76 properties worth pounds 1.3 billion as it continues its strategy of moving away from owning hotels.
The sale of sites - mainly UK-based Holiday Inns - will help fund the return of pounds 750 million to investors, pounds 500 million of which will be paid as a special dividend in December. The other pounds 250 million will go to top up an existing share buyback programme of the same amount. The firm has already bought back pounds 213 million worth of shares under that plan.See the full content of this document
Extract
Hotel Group Selling Pounds 1.3bn of Properties
It came as the group revealed profits had soared by 55.4 per cent in the first half after its recovery continued in the UK, the US and Asia Pacific.
The British group operates InterCont...See the full content of this document
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