Intercontinental continues hotels sale

Hotels group InterContinental is to sell a further 76 properties worth around £1.3bn (€1.9bn) as it continues its strategy of moving away from owning hotels, it said today.

The sale of sites – mainly UK-based Holiday Inns – will help fund the return of £750m (€1.1bn) to investors, £500m (€731.5m) of which will be paid as a special dividend in December.