Search Travel Market Report

mainlogo
www.travelmarketreport.com
  • News
  • Packaged Travel
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Niche & Luxury
  • Air
  • Training & Resources
  • Who We Are
    • Brian Israel
    • Briana Bonfiglio
    • Candace Protzman
    • Dan McCarthy
    • Dori Saltzman
    • Jennifer Arango
    • Kelly Fontenelle
    • Louis Intreglia
    • Tom McCarthy

InterContinental Hotels Agrees to Buy Majority Stake in Regent Hotels and Resorts

by Daniel McCarthy / March 14, 2018
InterContinental Hotels Agrees to Buy Majority Stake in Regent Hotels and Resorts

The Regent Hotel in Tivat, Montenegro. Photo: Shutterstock.com


InterContinental Hotels Group (IHG) said Wednesday that it will buy a 51 percent stake in Taiwan-based Regent Hotels and Resorts.

IHG will reportedly pay $39 million for the Regents Hotels Brand, which currently has six hotels in Europe and Asia with six more, including two in the U.S., in the pipeline. IHG will make three payments of $13 million to buy the company and the deal will be completed in 2026.

The agreement gives IHG another brand to add to its 5,300 properties worldwide that include well-known names like Crowne Plaza and Holiday Inn. It said it will look to grow the Regent brand to over 40 hotels and resorts over the long term.

“As one of the pioneers in defining luxury hotels both in Asia and around the world, Regent is an excellent addition to IHG’s portfolio of brands,” IHG CEGO Keith Barr said in a statement announcing the news. “We see a real opportunity to unlock Regent’s enormous potential and accelerate its growth globally.  In addition, by creating a dedicated luxury division, we will be bringing together some of the most experienced and respected people in the industry who will help drive our luxury offer, ensuring that our existing luxury brands continue to evolve and allowing us to bring in new brands such as Regent to enhance our brand portfolio.”

Regent, long known for its luxury accommodations, was the first hotel company to score five different hotels on Conde Nast Traveler’s Readers' Choice Awards when it did so in 2011. 

Current Regents hotels are expected to be refurbished for IHG starting in 2020. InterContinental Hong Kong will join the Regents brands, becoming a Regent Hotel in early 2021.

The announcement follows CEO Keith Barr’s 2017 message that IHG would look to grow its upscale and luxury segments, including the growth of Kimpton Hotels that IHG acquired for $430 million in 2014, .

“One of our key objectives has been to take the brand global,” Barr said at the time. He went on to explain that he sees even more opportunity within the $60 billion global luxury sector that is projected to grow by 50 percent over the next decade.

“[Guests] want a more unique experience. We think that there is a real opportunity for an upscale brand that offers the guest something more informal and differentiated, combined with the reassurance and quality standards of a branded chain,” he said at the time.

  1
  0
Related Articles
Iberostar and InterContinental Partner, 70 Iberostar Properties Join IHG Portfolio
As Regent Launches New Season, the Cruise Line’s Underrated Value Sticks Out
First Look: Luxurious Suites Aboard the Regent Seven Seas Splendor
IHG Buys Six Senses Hotels Resorts Spas
IHG Repositions Regent Brand to Appeal to the New Luxury Traveler
IHG Plots Kimpton, Regent Expansion
IHG Offering Free Cancellations and Welcoming Pets Ahead of Hurricane Florence
IHG Continues Kimpton Hotels Global Expansion
IHG Launches New Upscale Hotel Brand 'Voco'
IHG Joins Marriott, Hilton in Group Booking Commission Cuts

MOST VIEWED

  1. Maui Fires Update: Which Hotels and Resorts Are Open and Closed After Lahaina Fires
  2. Tropical Storm Idalia Forecasted to Become Hurricane Today, Hit Florida by Wednesday
  3. FAA Issues Nationwide Ground Stop for United Airlines Flights
  4. Southwest Airlines Strike Seems Imminent
  5. Hurricane Lee's Uncertain Path Raises Some Travel Concerns
  6. Celebrity Cruises Removes Gratuities from "All Included" Pricing


  1. Tropical Storm Watches in Effect for Parts of the Caribbean
  2. Hurricane Lee Intensifies to Category 5: Caribbean and U.S. Impact Uncertain
  3. Hurricane Franklin Scuttles Two Bermuda Cruises
  4. Royal Caribbean Monitoring Haiti Violence
  5. Two Florida Ports Remain Closed After Hurricane Idalia
  6. Updated Cruise Line COVID-19 Vaccination, Booster, & Testing Requirements
TMR THIS WEEK
Sponsored by ALG Vacations®
//services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=1bebc35e-2656-ee11-92d0-005056a8720b&Width=350&Height&250

Tips for Travel Advisors to Build Stronger Relationships and Higher Profits

Travel is a people business. Even with the many advanced technologies available to assist with travel planning and booking, it is still all about travel professionals helping their clients to explore new lands and cultures.

Read More...
TMR Subscription

Subscribe today to receive daily in-depth coverage, analysis of industry news, trends and issues that affect how you do business. Subscribe now for free.

Subscribe to TMR

Top Stories
Regent Seven Seas Cruises Unveils New Travel Advisor Program
Regent Seven Seas Cruises Unveils New Travel Advisor Program

Regent Elevate provides marketing insights and education, sales support, and advisor-only promotions and incentives. 

Read...
Oceania’s Frank Del Rio Jr. Says Fleet Will Have Starlink by End of 2024
Oceania’s Frank Del Rio Jr. Says Fleet Will Have Starlink by End of 2024

Starlink has quickly taken over the cruise industry. 

Read...
Quark Expeditions: What Travel Advisors Should Know Before Booking
Quark Expeditions: What Travel Advisors Should Know Before Booking

For advisors who have never sailed with Quark Expeditions, here are a few things to know. 

Read...
Hurtigruten Expeditions Rebrands as HX
Hurtigruten Expeditions Rebrands as HX

Starting in December, Hurtigruten Expeditions will henceforth be known as HX. 

Read...
Lindblad Expeditions Brings on New Senior VP of Sales
Lindblad Expeditions Brings on New Senior VP of Sales

Former Disney executive will lead travel advisor, group, and revenue management sales efforts. 

Read...
Sonesta to Build Luxury Development with Two Hotels in Dominican Republic
Sonesta to Build Luxury Development with Two Hotels in Dominican Republic

The Larimar City & Resort will mark Sonesta’s Dominican Republic debut.

Read...
TMR OUTLOOKS & WHITE PAPERS
European Travel Trends 2023 Outlook
CP White Paper 1
Cruise Trend Outlook 2023
View All
Advertiser's Voice
//services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=f9702600-2656-ee11-92d0-005056a8720b
Let Windstar Show Your Groups The Way to Explore the World 180 Degrees From Ordinary
About Travel Market Report Mission Staff Advisory Board Advertise
TMR Resources Webinars Calendar of Events Outlook/Whitepapers Previous Sponsored Articles Previous This Week Articles
Subscribe to TMR
Select Language
Do You Have an Idea Email
editor@travelmarketreport.com
Give Us a Call
1-(516) 730-3097
Drop Us a Note
Travel Market Report
71 Audrey Ave, Oyster Bay, NY 11771
News |Packaged Travel |Cruise |Hotels & Resorts |Destinations |Retail Strategies |Niche & Luxury |Air |Training & Resources |Who We Are
© 2005 - 2023 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | 243 South Street, Oyster Bay, NY, 11771 USA | Telephone (516) 730-3097| Terms and Conditions
Cookie Policy Privacy Policy