IHG Sells Birmingham Property
BIRMINGHAM, UK, November 24, 2005. InterContinental Hotels Group is selling its leasehold interest in the Crowne Plaza Birmingham City to Centre Island Birmingham Limited for lb24.4 million (before transaction costs), approximately lb3m ahead of net book value.
The Crowne Plaza Birmingham City has been sold with a 20 year Crowne Plaza franchise agreement. Centre Island Birmingham is part of the Centre Island Hotels Group which is an existing IHG franchisee with six other properties in the UK, Crowne Plaza Liverpool, Holiday Inn Ashford North, Holiday Inn Ellesmere Port, Holiday Inn Liverpool City Centre, Holiday Inn Preston and Express by Holiday Inn Liverpool Albert Dock.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
