Chinese Bidders Reportedly Set Sights on IHG, After Missing Out on Starwood
Chinese bidders are believed to be eyeing an acquisition of InterContinental Hotels Group, the Telegraph has reported.
Citing anonymous insiders who believe IHG is ripe for a takeover since Starwood Hotels & Resorts was acquired by Marriott, the paper said the three Chinese bidders for Starwood —Shaghai Jin Jiang International Hotels Group, the airlines owner HNA Group, and the sovereign wealth fund China Investment Corp. — now will now turn their attention to IHG.
IHG operates more than 4,900 hotels, including Holiday Inns and Crowne Plazas in almost 100 countries, making it attractive for a foreign company looking to expand its global presence.
As of now, no bids have been made.
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