Anbang Looking At Intercontinental
by Cheryl RosenAnbang Insurance Group, Marriott’s unsuccessful rival in the takeover of Starwood Hotels & Resorts, denied a report that it’s considering takeover of Holiday Inn parent InterContinental Hotels Group.
Anbang has no plans to make a bid and is not considering an offer for IHG, said Chris Winans, a spokesman for Anbang at the public relations firm Hill & Knowlton Strategies. He declined to comment further.
The Sunday Times reported that Anbang executives are in talks with London bankers over a possible bid of £7 billion, or about $9 billion.
IHG operates more than 5,000 properties under the Holiday Inn, Crowne Plaza, Indigo, Kimpton and InterContinental brands.
Anbang in 2014 acquired the Waldorf Astoria in New York. It dropped out of the bidding for Starwood in April, clearing the way for Marriott.
