IHG COMPLETES THE SALE OF THE INTERCONTINENTAL PARIS – LE GRAND

InterContinental Hotels Group (IHG) has completed the sale of the InterContinental Paris – Le Grand, in France, to an affiliate of Qatari investment fund Constellation Hotels Holding Ltd. IHG received gross proceeds of €330 million (approximately €2.2 million per room) from the transaction of the 470-room hotel in Paris' ninth arrondissement. IHG will continue to manage the 153-year-old hotel under a long-term contract.

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