IHG Opens 205-Room Kimpton Ashbel NYC Hotel and Cancels Shares After $157 Buyback
IHG•IHG has opened Kimpton Ashbel New York–Park Avenue, a 205-room boutique hotel in a restored 1928 Beaux-Arts Midtown building with views of Park Avenue and the Empire State Building. On May 28, the company repurchased and will cancel 10,000 shares at an average $157.48, cutting issued stock to 149.54 million.
1. Kimpton Ashbel New York–Park Avenue Launch
InterContinental Hotels Group has debuted Kimpton Ashbel New York–Park Avenue in Midtown Manhattan, featuring 205 guest rooms and suites in a restored 1928 Beaux-Arts building. Designed by Busta Studio, the property blends townhouse-style architecture with artisanal details and offers views of Park Avenue and the Empire State Building; reservations are now open.
2. 10,000-Share Repurchase and Cancellation
On May 28, IHG purchased 10,000 of its ordinary shares at prices ranging from $156.10 to $158.75, at an average of $157.48 per share. The repurchased shares will be cancelled, reducing the total issued share count to 149,537,985 ordinary shares.
