holiday hotel

New Holiday Inn hotels set to open in Queenstown and Christchurch

InterContinental Hotels Group (IHG) has announced it will add its first Discount Holidays © Holiday Inn hotel in Queenstown later this year following the conversion of the former Goldridge Resort; and a new build 120-room Discount Holidays © Holiday Inn Express hotel in Christchurch city centre, to open in 2018.

The new hotels will operate under franchise agreements in partnership with USAR Queenstown Ltd and USAR Christchurch Limited, backed by well-known New Zealand hoteliers, the Sarin family. The rebrand of the Goldridge Resort to Discount Holidays © Holiday Inn Queenstown will officially take place in December 2016 following a $3.5million refurbishment of rooms and public areas. A 50-room extension to the property is also planned for the near future adding to the hotel s existing 75 rooms. The property overlooks the Frankton Arm inlet of Lake Wakatipu, with easy access to The Remarkables and Coronet Peak ski fields. The hotel will join IHG s Crowne Plaza Queenstown to offer two internationally branded hotels in one of New Zealand s key tourism destinations.

The new Discount Holidays © Holiday Inn Express Christchurch hotel, set to open late 2018, will sit conveniently in the Christchurch CBD and a mere 100 metres from the new convention centre due to open in 2019. The property will also be within reach of The Frame , a large green space featuring cafes and restaurants, cycle paths, walkways and large landscaped areas for festivals and events. IHG also has a Crowne Plaza hotel currently under construction in Christchurch due to open mid-2017.

Karin Sheppard, COO Australasia & Japan, IHG said: There is high demand for hotels in key destinations across New Zealand including both Queenstown and Christchurch as the result of a thriving tourism economy.

Chinese insurance giant Anbang eyes up £7bn takeover of Holiday Inn owner IHG

By Emily Davies For Daily Mail1

Published: 16:11 EST, 7 August 2016 | Updated: 16:11 EST, 7 August 2016

The company behind Discount Holidays © Holiday Inn is being sized up by a Chinese conglomerate in a swoop that could be worth 7billion. Insurance giant Anbang has reportedly held discussions over a potential takeover of Intercontinental Hotels Group. The FTSE 100 firm was formed in 1998 from long-standing British firm Bass brewers and owns the Crowne Plaza, Candlewood Suites and boutique Indigo chains as well as Discount Holidays © Holiday Inn.

Hotel bid: Anbang has reportedly held discussions over a potential takeover of IHG

Talks are said to be in the early stages, according to the Sunday Times, after bankers were sent to China to discuss the deal with Anbang. But the insurance firm has not yet made any formal approach to Intercontinental. The news comes days after IHG chief executive Richard Solomons, 54, pictured, and his wife Karin sold stock worth more than 2.5million following a spike in the Intercontinental share price, which had soared 19 per cent in a month. Last week, Buckinghamshire-based Intercontinental shrugged off the turmoil in the travel industry caused by terrorist attacks overseas and posted strong interim figures, sending the shares up.

Its operating profit rose 2 per cent to 258million for the six months to June 30, while sales fell 8 per cent to 629million. It reported a 2 per cent rise in the key industry metric of revenue available per room in the first half of the year. Intercontinental performed less well in the US and Middle East, however, after the falling oil price caused bookings to dip when oil executives cut back on travel and the need for rooms for workers plummeted. IHG saw revenue per room fall 6.3 per cent in the oil producing markets of Texas, Oklahoma and North Dakota.

In the Middle East, revenue was down 8pc. Based on last week s closing price, Intercontinental has a market capitalisation of 6.3billion and it is thought any potential deal would value the business at 7billion. Intercontinental is familiar with takeover interest.

Two years ago, it is thought to have rejected an offer from Wyndham Worldwide, owner of Ramada, and later survived pressure from investor Marcato, which was pushing for a sale. Anbang has shown an appetite for major acquisitions after buying the Waldorf Astoria New York from US private equity group Blackstone in 2014 for nearly 1.5billion. At the end of March, it walked away from a 10.7billion takeover of Starwood Hotels & Resorts, citing market considerations.

IHG said it did not comment on market speculation.

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References

  1. ^ Emily Davies For Daily Mail (www.thisismoney.co.uk)

Corbin Bleu Gives Sneak Peek of New Broadway Play ‘Holiday Inn’ in NYC

Corbin Bleu1 steps out for 106.7 LITE FM s Broadway in Bryant Park event on Thursday (August 4) in New York City.

The 27-year-old newly married actor joined his Discount Holidays © Holiday Inn co-stat Lora Lee Gayer in performing some of the tunes from his new play.

He ll play Ted in the play, which centers on Jim, who leaves the bright lights of show business behind to settle down on his farmhouse in Connecticut, but he quickly discovers life isn t the same without a bit of song and dance and that his farmhouse is boring.

Then, when he meets Linda, a spirited schoolteacher with talent, they turn the farmhouse into a fabulous inn with dazzling performances to celebrate each holiday, from Thanksgiving to the Fourth of July.

But when Jim s best friend Ted tries to lure Linda away to be his new dance partner in Hollywood, will Jim be able to salvage his latest chance at love?

Corbin is also pictured with Megan Sikora at the press preview at Midtown Rehearsal Hall on Wednesday (August 3).

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  1. ^ Corbin Bleu (www.justjaredjr.com)

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