Starwood and Marriott shook up the hotel world in November with the announcement of a merger between the two brands, a deal worth $12.2 billion that created the world’s largest hotel chain. Now the media is turning its attention towards InterContinental Hotels Group (IHG) as a potential buyout target.
According to London-based news outlet The Telegraph, Chinese bidders are “thought to be sizing up” the hotel chain that includes the Holiday Inn, Crowne Plaza Hotels & Resorts and Hotel Indigo brands.
Shanghai Jin Jiang International Hotels Group, the airlines owner HNA Group and a sovereign wealth fund China Investment Corp, all reportedly expressed interest in buying Starwood Hotels & Resorts. It is now thought that these companies or other potential buyers will turn their attention to IHG.
According to The Telegraph no one has submitted an official bid on the British hotel company and IHG, Jin Jiang, HNA and China Investment Corp all declined requests for comment.
Earlier in November, an official spokesperson for IHG said that the company’s Board of Directors was not considering a sale or merger, however, this was announced before the Marriott-Starwood merger.
More information is available on The Telegraph’s website.
