InterContinental Hotels Group is getting closer to announcing a deal for a luxury hotel brand, but buying Belmond isn’t part of its plan.
While recent reports suggested that InterContinental Hotels Group had taken a closer look at the company formerly known as Orient-Express Hotels, CEO Keith Barr indicated this wasn’t part of the plan.
When asked if Belmond was a company InterContinental Hotels Group was looking to buy, Barr said it wasn’t, before he reiterated a point madeon a recent investor call that any potential acquisition needed to be asset light, something that Belmond isn’t.
Barr is interested in brands with “history and heritage” that maybe “hasn’t really done anything in a while,” and that need “a bit of love [and] attention.”
So who might the chain be targeting? Suggestions — some of which fit the guidelines better than others — include: Mandarin Oriental, Four Seasons, Shangri-La and Kempinski.
Read original article