The InterContinental Hotel Group (IHG) announced on March 14 that it had acquired a 51% share in Regent Hotels and Resorts for USD 39 million. IHG will also have the right to become a full owner of Regent Hotels and Resorts in stages by 2026.
The luxury brand Regent Hotels and Resorts was founded in 1970 and currently has six hotels in its portfolio – in Montenegro (Porto Montenegro), Beijing, Berlin, Singapore, Taipei and Chongqing. This year, it also plans to open a hotel in Jakarta.
As IHG points out, their long-term goal is to expand this sophisticated brand from the current six to 40 hotels in key world cities and resorts.
– IHG is already a global leader in the luxury segment with the world’s largest luxury brand, InterContinental Hotels & Resorts. The acquisition of Regent is part of one of IHG’s new strategic initiatives focused on continuing to expand its footprint in the fast-growing luxury segment – the hotel group says.