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# IHG sells InterContinental Hong Kong for US$938 million.
- URL: https://hospitality.pro/ihg-sells-intercontinental-hong-kong-for-us938-million/
- Published: 2015-07-11T06:56:27.000Z
- Updated: 2015-07-15T03:43:10.000Z
- Author: Holedo
- Tags: Hospitality Industry News, Hotel Development, IHG, News, #wordpress, #Import 2026-04-16 12:15

InterContinental Hotels Group agrees to sell IHG?s ownership interest in InterContinental Hong Kong to Supreme Key Limited, a consortium of investors advised and managed by Gaw Capital Partners, for a gross purchase price of US$938 million.  
The buyer has paid a cash deposit to IHG of US$94 million, with the remaining proceeds payable in cash on completion. The buyer has made a further commitment to invest in a significant refurbishment of the hotel. This is expected to commence in 2017 and will take place over a period of approximately 18 months.  
IHG will retain a 37-year management contract on the hotel, with three 10-year extension rights, giving an expected contract length of 67 years. Management fees payable to IHG are initially expected to be approximately US$8 million per annum, increasing following the refurbishment.