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IHG Announced the completion of the sale(€330 million) of InterContinental Paris – Le Grand

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InterContinental Paris Le Grand Hotel
Following receipt of relevant regulatory approvals, InterContinental Hotels Group PLC (IHG) [LON:IHG, NYSE:IHG (ADRs)] announces the completion of the sale of InterContinental Paris – Le Grand to Constellation Hotels France Grand SA, an affiliate of Constellation Hotels Holding Limited.

The terms of the transaction are unchanged from those announced on 7 August 2014.

Gross disposal proceeds of €330 million ($368m*) have been received in cash and the proceeds will be used for general corporate purposes. IHG will continue to manage the hotel under a long-term management contract.

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Author: Vassilis

Vassilis is the founder and Executive Editor of XeniosWorld, Greece's leading English-language travel trade media since 1997. With 30+ years in media and hospitality, he's worked with over 200 luxury hotels and resorts across Greece. A marketing graduate with postgraduate studies, Vasileios specializes in hotel digital marketing, direct booking strategies, and tourism industry innovation. His insights reach 45,000+ hospitality professionals globally. Based in the UK and Greece, he's passionate about helping hotels leverage technology and data-driven strategies to increase revenue and reduce OTA dependency.