IHG signs Multi-brand, Multi-location Hotel Deal with Thai Careon Corporation

Conversion of Four Hotels Add Nearly 1,500 Rooms to IHG’s Asia Pacific portfolio

Singapore.- IHG (InterContinental Hotels Group) today announced the signing of a deal with leading Thai conglomerate TCC (Thai Chareon Corporation) to convert and rebrand four existing hotels, which adds nearly 1,500 rooms to IHG’s Asia Pacific portfolio.

The hotels are located in Australia, China and Japan, and will carry the InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, and Holiday Inn® Hotels and Resorts brands.

“We are confident that the four properties added to our portfolio will do well operating under the various IHG brands. We look to IHG’s management experience, brand portfolio and commitment to the hospitality industry in Asia Pacific to ensure the success of our partnership,” said Khun Charoen Sirivadhanabhakdi, founder and chairman of TCC.

TCC’s businesses cover various sectors including beverages, property, industrial trading & consumer products and agro related business as well as insurance and leasing. Presently, TCC is the owner of InterContinental Singapore. With this new agreement, TCC will have a total of five IHG properties in its portfolio.

Additionally, TCC and IHG will finalise a strategic cooperation agreement for future management opportunities in Asia Pacific.

As TCC moves to fortify its property business, this alliance will see IHG working closely with TCC on more hotel assets in Asia Pacific region.

“We are delighted to win TCC’s confidence in our brands. This partnership allows us to bring to bear the strength and scale of IHG brand and systems to drive operational performance of the hotels and deliver returns,” said Jan Smits, Managing Director, IHG Asia Australasia.

The four hotels in the agreement comprise:

* InterContinental Adelaide - conversion from the Hyatt Adelaide. This 367-room property is ideally located in the Adelaide Central Business District. It is adjacent to the Adelaide Convention Centre, the Adelaide Casino and the Adelaide Festival Centre. Refurbishment works are planned for the property.
* ANA Crowne Plaza Kobe - currently a franchised Crowne Plaza hotel, the 592-room property will join IHG’s Japan managed hotel portfolio.
* Crowne Plaza Kunming City Centre - conversion from the current Banks Hotel. The 285-room property is only 15 minutes away from the Kunming Airport and enjoys a city-centre location. An extensive scope of works is planned for the property.
* Holiday Inn Kunming City Centre - conversion from the current Sakura Kunming Hotel. This property has 235 rooms and will undergo major works prior to branding as a Holiday Inn. The hotel is located in the city’s financial and commercial district.