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IHG signs Japanese joint venture
InterContinental Hotels Group (IHG) has signed a joint venture agreement with the Japanese company All Nippon Airways (ANA) to create the largest international hotel operator in Japan.
The new group will be called IHG ANA Hotels Group Japan, of which IHG will hold an £8m majority stake.
ANA will sign new 15-year management contracts with IHG ANA Hotels Group Japan for its 13 owned and leased hotels when the deal is completed in December this year and will be re-branded in the near future as one of three new brands – ANA-InterContinental, ANA-Crowne Plaza and ANA-Holiday Inn.
The first of the hotels to be renamed will be ANA’s flagship Hotel Tokyo, which will be known as ANA-InterContinental Tokyo as of April next year.
In addition, the joint venture will continue to operate ANA’s 18 remaining hotels, which belong to third party owners, who will each be given the option of rebranding. Details: www.ihgplc.com
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