InterContinental Hotels Group denied a report that it is for
sale or may merge with another company, after Bloomberg News reported IHG was
exploring strategic options.
“Following recent market speculation, the board of directors
of IHG states that it is not considering a potential sale or merger of the
company,” the company said in a statement Friday.
The company last week was exploring a possible sale or
merger after receiving acquisition inquiries, Bloomberg News reported Friday. This
summer, the company had been in merger talks with Starwood Hotels &
Resorts, the Financial Times reported, though IHG has since said those talks
IHG has 4,900 worldwide hotels under the Holiday Inn,
Holiday Inn Express, Crowne Plaza, InterContinental, Staybridge Suites,
Candlewood Suites, Hotel Indigo and Even brands. IHG has a market value of
almost $10 billion, compared to about $24 billion for Hilton Worldwide, $20
billion for Marriott International and about $13 billion for Starwood.