IHG Brands in South America Undergo $95mil in Renovations

. October 14, 2008

JANUARY 5, 2007. InterContinental Hotels Group (LSE:IHG) (NYSE:IHG) (ADRs) (IHG), the world's largest hotel group by number of rooms, announced today that the owners of IHG properties throughout Latin America and the Caribbean are investing a total of $95 million to upgrade, expand and renovate their hotels. Renovations began in 2005 and will be completed by the end of 2007.

A total of 22 properties will be renovated which will range from upgrades to the physical plant to complete transformations of the property.

"Our owners have made a significant and comprehensive investment in their hotels," says Alvaro Diago, Area President, IHG Latin America. "They recognize the necessity to consistently upgrade their hotels to ensure that guests' needs are not only being met, but exceeded. Their combined $95 million investment reflects their commitment to provide the highest quality hotel offering living up to IHG's brand standards."

IHG is the second largest hotel operator in Latin America, with a total of 60 hotels in 18 countries. IHG has consistently helped shape the region's hospitality industry throughout its six decades in Latin America with innovative strategies - from hotel properties within mixed-use developments and convention centers, to the recent announcement to open the first Holiday Inn Hotel and School in Latin America, which will be located in Panama City.

Over the years, the region has experienced rapid expansion of the upscale Crowne Plaza brand, the mid-scale Holiday Inn brand and the fast-growing Holiday Inn Express brand.

"We applaud our owners for their pro-activity and foresight," concludes Diago. "Their properties are already among the leading hotels in their respective markets. The renovations and expansions further their position all the more."

Renovation and expansion details:

Argentina

--InterContinental Buenos Aires Renovations: Guestrooms, expanded lobby area, renovated gardens and exterior facade

--Holiday Inn Express Puerto Madero Renovations: Guestrooms, common areas, reception area, business center, and hotel is 100 percent WIFI (wireless)

Brazil

--InterContinental Sao Paulo Renovations: Added the latest technology to all its guestrooms including WIFI

--Crowne Plaza Sao Paulo Renovations: Lobby, restaurant; Added Sleep Advantage Program to special rooms, refurbished meeting rooms

--Holiday Inn Parque Anhembi Renovations: New convention center and four meeting rooms that can accommodate up to 500 people; additional ballroom under construction to accommodate 1200 people

Chile

--InterContinental Santiago Renovations: New recreational tower that houses a pool, bar restaurant, spa, gym and multi-purpose rooms

--Crowne Plaza Santiago Renovations: Presidential Suite, junior suites and general upgrades to the property

--Holiday Inn Express Concepci'on Renovations:Guestrooms, gym, reception area, all common areas, business center and added WIFI

Colombia

--InterContinental Medellin Renovations: Pool area, reception area and lobby bar; guestrooms, Added new banquet space, meeting rooms; redesigned landscape under guidance with local botanical garden

--Crowne Plaza Bogota Renovations: Real InterContinental Costa Rica

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