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IHG announces sale of InterContinental London Park Lane for £300m

March 29, 2013

InterContinental Hotels Group has announces it has agreed to sell InterContinental London Park Lane to Constellation Hotel UK, which is an affiliate of Constellation Hotels, a Middle Eastern private investment group. IHG?s leasehold interest in the hotel has been sold for gross cash proceeds of £301.5 million, 62 per cent above December 31st 2012 net book value.

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