New Franchise Agreement for InterContinental Hotels Group
UNITED KINGDOM, August 15, 2005. InterContinental Hotels Group PLC announces the signing of a new franchise agreement for up to 16 hotels in the UK owned by Queens Moat Houses Limited. Initially 11 of the hotels will be converted to the Holiday Inn brand and two to the Crowne Plaza brand. Three further hotels may be converted at a later date.
The initial 13 hotels, managed by Queens Moat Houses UK Limited, will undergo significant refurbishment as part of the deal and will be operated under a 20 year franchise agreement. These additions will bring the total number of hotels operating under IHG brands in the UK to 227 (31,909 rooms). Andrew Cosslett, Chief Executive Officer of InterContinental Hotels Group, commented, "This deal is another important step in the development of our brand portfolio in the UK market. We continue to add to our franchise business and are delighted to be furthering our relationship with Queens Moat Houses."
Richard Moore, Managing Director of Queens Moat Houses UK Limited, added, "The decision to franchise an important part of the portfolio in the UK is part of a new corporate strategy for the Group since Queens Moat Houses was acquired in October 2004. Strong global hotel brands, combined with new capital investment in our hotels will provide us with an excellent base for growth in the future."
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 
