DTH

Destination Updates

IHG buys into Regent Hotels & Resorts and goes back to the 80s with Hong Kong property

Share

IHG has continued its acquisitions streak, snapping up a 51% stake in Regent Hotels and Resorts to the tune of USD 39 million, split through three tranches from now until 2024.

The global hospitality firm plans to grow Regent from its current line-up of six hotels and 2,000 rooms, to 40 properties and over 10,000 rooms worldwide.

In a show of commitment to this long-term strategy, the  InterContinental Hong Kong, perched on the Tsim Sha Tsui side of the Hong Kong harbour, which first opened as the Regent Hong Kong in 1980 will once again welcome guests under its original name in 2021 following a full refurbishment.

This acquisition also allows IHG to slowly take over the remaining 49% interest in Regent Hotels and Resorts at a steady pace by 2026 with the help of Hong Kong-based real estate private equity firm Gaw Capital Partners.

 

For reservations, please contact us here.

Related Articles

newly opened Dragon Park in Halong City is the largest theme park in Southeast Asia

The Sun Group officially opened the largest theme park in Southeast Asia, Dragon Park in Ha Long City, Quang Ninh...
Read More

angkor hilltop sunset scene rationed

The Apsara Authority has announced it will restrict visits to the top of Angkor Historical Park’s Phnom Bakheng Hill, a...
Read More