Intercontinental buys majority stake in Taiwanese hotels business


City & Finance Reporter for the Daily Mail

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

Upmarket: Regent Hotels and Resorts hotels offer fine dining, spa treatments, 24-hour room service and babysitting and shoe shine services

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.

 



Source link