InterContinental Hotels Group PLCNYSE
InterContinental Hotels: Kimpton Buy Is A Win
DAG Investments • 17 Comments
DAG Investments • 17 Comments
Mon, Aug. 8, 8:46 AM
- Anbang Insurance Group is not considering an offer for InterContinental Hotels (NYSE:IHG), a representative for the Chinese company said, rejecting a Sunday Times report that a takeover was in the works.
- Anbang dropped its pursuit of Starwood Hotels in March, ending a bidding war with Marriott International.
Fri, Mar. 18, 9:27 AM
- Marriott International (NASDAQ:MAR) issues a statement following the announcement of Starwood Hotel & Resorts (NYSE:HOT) acceptance of an offer from an Anbang consortium.
- The company notes it still has until March 28 to bring in a new offer and has a tidy termination fee of $400M fee waiting for it if a new deal isn't struck. The tone from Marriott is that the chase is decidedly still on.
- The quick analysis from several hotel sector analysts is that a Marriott-Starwood deal is ultimately more likely than an Anbang-Starwood combination.
- M +1.32% to $72.25. HOT +5.04% to $80.24. Shares of Hyatt Hotels (NYSE:H) and InterContinental Hotels Group (NYSE:IHG) are on watch due to their trend of extra volatility on sector M&A developments.
- Previously: Marriott loses Starwood (for now) (Mar. 18 2016)
Nov. 17, 2015, 7:02 AM
- Hotel industry insiders think there is more consolidation within the lodging sector on tap to follow the merger of Starwood Hotels & Resorts Worldwide and Marriott International.
- A significant increase in scale is seen as a way to compete with upstarts such as Airbnb, while interested Chinese buyers are still lurking in the background.
- Hyatt Hotels (NYSE:H), InterContinental Hotels Group (NYSE:IHG), and Acccor (OTCPK:ACRFF, OTCPK:ACRFY) are three names to watch for M&A.
- Previously: Marriott to buy Starwood Hotels for $12.2B (Nov. 16 2015)
Jul. 30, 2015, 11:19 AM
- InterContinental Hotels Group (IHG +3.4%) and Starwood Hotels & Resorts (HOT +0.8%) are in informal talks about a merger, sources tell Financial Times.
- Both companies reported earnings today without commenting on consolidation plans.
- Previously: Starwood Hotel & Resorts beats by $0.10, beats on revenue (Jul. 30 2015)
- Previously: InterContinental Hotels reports 1H15 results (Jul. 30 2015)
Dec. 15, 2014, 11:38 PM
- InterContinental Hotels Group (NYSE:IHG) announces it acquired Kimpton Hotels & Restaurants for $430M.
- The Kimpton line of hotels is one of the largest boutique chains in the U.S. with 62 hotels in the U.S. and another 16 in the pipeline.
- IHG thinks it can double Kimpton's EBITDA by 2017 and achieve returns above IHG's cost of capital by the third year after closing.
Nov. 11, 2014, 12:17 PM
- Marcato Capital issues an open letter to shareholders of InterContinental Hotels Group (IHG +2.6%).
- The investment firm says a detailed analysis by Houlihan Lokey indicated an equity combination with another hotel operator would give shareholders a 100% premium over IHG's current trading price.
- A full review of strategic options is deemed by Marcato to be the best course of action for IHG.
May 29, 2014, 9:29 AM| May 29, 2014, 9:29 AM
May 26, 2014, 7:52 AM
- InterContinental Hotels Group (IHG) has turned down a secret £6B offer from a U.S. rival for being too low, Sky News reports.
- It's unclear who the suitor was, although analysts speculated that it could have been Starwood Hotels & Resorts (HOT).
- InterContinental is bracing itself for a renewed offer from the bidder or from a rival, with U.S. hotel companies thought to be attracted by the prospect of moving their tax bases to U.K.