IHG's Park Lane hotel up for sale
Wednesday 08 August 2012
One of London's best-known hotels, the Intercontinental in Park Lane, has been put on the market by Intercontinental Hotels Group as it moves ever more from owning to managing hotels.
More than nine out of 10 rooms in the 51 hotels that the chain runs in London or near out-of-town Olympic venues are currently occupied.
IHG's chief executive, Richard Solomons, said: "We would expect 80 per cent occupancy during August so the Olympics has clearly had a beneficial effect.
"The Holiday Inn brand is 60 years old this year but our involvement with the Olympics has had a hugely positive effect on its awareness among consumers."
The Park Lane hotel, which overlooks Hyde Park Corner, could fetch more than £200m, according to analysts. It opened in 1974 and underwent a £75m refurbishment five years ago.
- 1 The West has it totally wrong on Lee Kuan Yew
- 2 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 3 The day I starred in Only Fools and Horses
- 4 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
The West has it totally wrong on Lee Kuan Yew
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...