IHG Sells Holiday Inn Dublin Airport
DUBLIN, Ireland, August 12, 2005. InterContinental Hotels Group today announces it has sold the Holiday Inn, Dublin Airport (248 rooms). The property will leave the IHG system. The hotel will be owned and operated by Adelphi Way Developments & Investments Limited.
Proceeds before transaction costs were Eur33.5 million (lb23.3m), approximately in line with net book value.
Since Separation in April 2003, including today's announcement, IHG has announced the disposal of 126 hotels with proceeds of approximately lb1.8 billion. 19 properties remain on the market with a net book value of approximately lb370 million.
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