InterContinental Hotels completes sale of Mark Hopkins hotel

28th Mar 2014 12:21

InterContinental Hotels Group (IHG) has completed the sale of the Mark Hopkins San Francisco hotel.IHG, which also runs the Holiday Inn hotel chain, received gross proceeds of $120m in cash. It will continue to manage the hotel under a long-term management contract.The property was bought by a joint venture between affiliates of Woodridge Capital Partners and funds managed by Oaktree Capital Management.NR