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Six Continents Hotels takes InterContinental name
When Six Continents' demerges to create two separate listed companies, the hotel arm is to be called InterContinental Hotels and will include the InterContinental and Holiday Inn operations and a soft drinks operation.
It was recently announced that Six Continents retail is to be renamed Mitchells & Butlers (MAB).
Shares in the two companies are scheduled to start trading on the London market in mid-April.
Mitchells & Butler and InterContinental are each expected to have market capitalisations of more than £3bn. MAB has an estate of over 2,100 pubs, bars and restaurants that are predominantly large freehold sites in residential areas.
The MAB Board strategy is to capitalise and build on its position as the leader in the managed pub and pub restaurant sector, to drive returns, cash generation and long-term earnings growth to create value for shareholders. It also intends owning and developing licensed properties with high average weekly sales, evolving its retail brands to gain market share with new consumer offers. Details: www.sixcontinents.com
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