IHG to Acquire 51% Stake in Regent Hotels and Resorts

ATLANTA—InterContinental Hotels Group (IHG) has agreed to acquire a 51% stake in Regent Hotels and Resorts for $39 million in cash. IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026.

IHG’s intention is to grow the brand from six hotels today to more than 40 hotels in key global gateway city and resort locations over the long term.

The acquisition of Regent is part of one of IHG’s new strategic initiatives focused on continuing to expand its footprint in the fast-growing $60-billion luxury segment. This initiative is supported by the creation of a new dedicated division to further enhance its capabilities in this area and will be funded by IHG’s efficiency program, as outlined in its full-year results on February 20.

“We see a real opportunity to unlock Regent’s enormous potential and accelerate its growth globally,” said Keith Barr, CEO of IHG. “In addition, by creating a dedicated luxury division, we will be bringing together some of the most experienced and respected people in the industry who will help drive our luxury offer, ensuring that our existing luxury brands continue to evolve, and allowing us to bring in new brands, such as Regent, to enhance our brand portfolio.”

IHG also revealed today that following an extensive refurbishment due to commence in early 2020, InterContinental Hong Kong will become a Regent Hotel in early 2021.