Intercontinental Hotels Group (IHG) has snapped up a majority stake in a luxury Taiwanese hotels business after revealing a planned spending spree on boutique hotels earlier this year.
IHG, which owns Holiday Inn and Crowne Plaza, bought a 51 per cent stake in Regent Hotels and Resorts for £28million from Formosa International Hotels.
The group said it will grow Regent’s six-hotel tally to more than 40.
Upmarket: Regent Hotels and Resorts hotels offer fine dining, spa treatments, 24-hour room service and babysitting and shoe shine services
It plans to open further sites in Boston, Jakarta and Hong Kong.
Regent was founded in 1970 by US hotelier Robert H Burns and has been owned by a number of companies.
The hotels offer fine dining, spa treatments, 24-hour room service and babysitting and shoe shine services.
Its rooms come with marbled bathrooms and luxury bed linen.