Intercontinental Hotels buys Six Senses for £300m

Writer, Stock Market Wire
Wednesday, February 13, 2019 - 07:56

Intercontinental Hotels Group said Wednesday it had acquired Six Senses Hotels Resorts Spas from Pegasus Capital Advisors for $300m in a bid to expand the company's position in the luxury segment.

Six Senses currently managed 16 hotels and resorts, with 18 management contracts signed into its pipeline, and more than 50 further deals under active discussion, the company said.

Intercontinental sees the potential to grow the Six Senses estate to more than 60 properties globally over the next 10 years.

Six Senses currently generated fee revenues of more than $13m and the acquisition was expected to be earnings (EBITDA) breakeven in year two and to generate a return approximately equal to its cost of capital by year four, the company added.


Related content

Broker Forecast - Mainfirst issues a broker note on InterContinental Hotels Group PLC

Mainfirst today initiates coverage of InterContinental Hotels Group PLC (LON:IHG) with a outperform investment rating and price target of 5600p.

Broker Forecasts data provided by...

Tue, 16/04/2019 - 10:30


JD Sports’ winning formula and Galliford Try issues profit warning

“The FTSE 100 should today close at a record high for 2019 if it can sustain the momentum seen in early trading on Tuesday. Propping...

Tue, 16/04/2019 - 10:19


Broker Forecast - Goldman Sachs issues a broker note on InterContinental Hotels Group PLC

Goldman Sachs today reaffirms its neutral investment rating on InterContinental Hotels Group PLC (LON:IHG) and cut its price target to 5100p (from 5368.42p).

Broker Forecasts...

Mon, 15/04/2019 - 10:40


Broker Forecast - Societe Generale issues a broker note on InterContinental Hotels Group PLC

Societe Generale today reaffirms its hold investment rating on InterContinental Hotels Group PLC (LON:IHG) and raised its price target to 4800p (from 4500p).

Broker Forecasts...

Wed, 20/02/2019 - 10:20


Broker Forecast - UBS issues a broker note on InterContinental Hotels Group PLC

UBS today upgrades its investment rating on InterContinental Hotels Group PLC (LON:IHG) to neutral (from neutral) and raised its price target to 4500p (from 4275p)....

Wed, 20/02/2019 - 09:40