MARKET TALK: InterContinental Sale Shows Asset Mkt Recovery

2nd Jul 2010 09:09

0809 GMT [Dow Jones] The sale by InterContinental Hotels Group (IHG.LN) of its Buckhead Atlanta Hotel shows that the asset markets are tentatively recovering, says Citigroup. Says this bodes well for further disposals. Meanwhile, says the move by InterContinental is a good example of the "capital recycling strategy" employed by the group. Says having invested $110M in '04 to prove the brand in North America, the group has signed 21 new InterContinentals in that market. Says the group can now recycle that capital either behind another brand or return it to shareholders. Has InterContinental at buy. Shares are trading flat at 1046p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 04:09 ET (08:09 GMT)