Sumitomo Appoints IHG to Manage Former Park Hyatt LA
LONDON, UK, January 9, 2007. InterContinental Hotels Group (IHG) [LON: IHG; NYSE: IHG (ADRs)] and Sumitomo Realty & Development Co., Ltd. announce today the debut of the InterContinental Los Angeles Century City, located at 2151 Avenue of the Stars in Los Angeles, California.
The 363-room hotel, owned by Tokyo-based Sumitomo Realty, will be managed by IHG's Americas operations division, The Hotel Management Group, under a long term management contract, effective January 10th 2007.
"The addition of the InterContinental Los Angeles Century City to our global portfolio reinforces IHG's strategic growth plan," said Andrew Cosslett, Chief Executive of InterContinental Hotels Group. "InterContinental is growing at a faster pace than ever, fueled by an enhanced brand position that is highly relevant to today's traveler including a world leading concierge program. We are pleased to be working with Sumitomo Realty & Development Co., Ltd. on this exciting project."
The announcement of the InterContinental Los Angeles Century City hotel kicks off a third year of good growth for the InterContinental brand with the addition of 16 new properties opened across 10 countries over the last two years. November 2006 saw the introduction of a new generation of flagship properties with the openings of InterContinental Boston and InterContinental London Park Lane. The brand will continue its global expansion throughout 2007 including three new openings planned in China -- Chengdu, Chongqing and Jiuzhaigou -- and the opening of the InterContinental Dubai Festival City.
Formerly the Park Hyatt, the re-flagged 363-room property offers private balconies with city and mountain views and 12,500 square feet of function space. Guests can take advantage of the central location in the heart of Century City, just minutes away from Westwood, Bel Air and Rodeo Drive in Beverly Hills.
"We have been looking for an opportunity to expand IHG's presence in Los Angeles with the introduction of the InterContinental brand to the market," said Kirk Kinsell, SVP and chief development officer, The Americas, InterContinental Hotels Group. "This new deal reflects the brand vision and further solidifies our growth of luxury properties in the United States."
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