IHG completes disposal of New York Barclay JV

1st Apr 2014 13:49

InterContinental Hotels Group (IHG) has completed the disposal of its 80 per cent interest in joint venture InterContinental New York Barclay for 274m dollars.The company sold its stake to joint venture partner Constellation Barclay Holding US. IHG will continue to manage the hotel under a long-term management contract. Shares rose 0.16% to 1,930p at 13:58 on Tuesday. RD