InterContinental Hotels Makes Asia Luxury Push With Six Senses Acquisition
Photo Credit: Cook & Tras Social Library, an intimate restaurant and bar at Six Senses Maxwell, Singapore. Under IHG, there could be 60 Six Senses properties globally in 10 years. Six Senses Hotels Resorts Spas
Skift Take
InterContinental Hotel Group’s purchase of Six Senses Hotels Resorts Spas is consistent with its drive to boost its luxury portfolio with small yet well-defined brands that do not cannibalize one another. So smart.
InterContinental Hotels Group (IHG) is further boosting its luxury portfolio with the acquisition of Bangkok-based Six Senses Hotels Resorts Spas for $300 million cash from Pegasus Capital Advisors.
The acquisition, announced Wednesday, brings IHG’s portfolio of open and pipeline luxury hotels to 400 hotels with 108,000 rooms globally.
The deal, which includes all of Six Senses’ brands and operating companies and excludes any real estate assets, does not come as a surprise. As Skift reported last October, IHG is still in the market for small acquisitions. Six Senses, on the other hand, “had been sniffed at” at various points over the past two to three years as private equity fund Pegasus “was coming under some pressure to return principal to their investors, but only if/when it made sufficient sense,” said a source.
Don't Miss IHG CEO Keith Barr on Stage at Skift Forum Europe This April
Good fit
IHG is widely seen as having added another Asian trophy, after its
