InterContinental made redecorating plans just to sell New York’s Barclay
Skift Take
There's no doubt that every single major hotel chain is moving in the direction of selling hard assets in order to focus on management, but we can't help thinking this won't end well.
InterContinental Hotels Group Plc, owner of the Holiday Inn, Crowne Plaza and Hotel Indigo brands, will be ready to sell its New York Barclay hotel this year after completing renovation plans, Chief Executive Officer Richard Solomons said.
“We will go back to the market this year,” the CEO said in an interview in Abu Dhabi yesterday. “Demand for prime real estate assets in major cities is returning, mostly from non-U.S. real estate investment trusts, sovereign wealth funds and wealthy individuals.”
InterContinental took the Manhattan property off the
