InterContinental Hotels Group (IHG.L) aims to capitalize on any discontent stirred by rival Hilton Worldwide´s recent decision to raise the number of loyalty points required for a free hotel stay.

InterContinental, operator of brands like Holiday Inn and Crowne Plaza, plans to give out more than 400 million loyalty points to members of its "Priority Club" program who lost the most Hilton "HHonors" points.

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