IHG Repurchases 40,000 Shares at $169.29 Average; Extendam Buys 543-Room Spanish Hotel Portfolio
IHG•French asset manager Eurazeo has sold its stake in Spain’s FST Hotels portfolio—comprising three properties and 543 rooms—to private equity firm Extendam. Separately, InterContinental Hotels Group repurchased 40,000 ordinary shares on July 2 at an average price of $169.29, with all bought shares set for cancellation.
1. Share Repurchase Details
InterContinental Hotels Group executed a share buyback on July 2, purchasing 40,000 ordinary shares at prices ranging from $167.75 to $170.40 and averaging $169.29 per share. The company intends to cancel all repurchased shares, reducing its outstanding share count from 154,325,753 to 148,893,971 (excluding 5,431,782 treasury shares).
2. Sale of FST Hotels Portfolio
French asset manager Eurazeo has divested its stake in the FST Hotels portfolio in Spain, transferring ownership of three properties with a total of 543 rooms to hospitality-focused private equity firm Extendam. The sale underscores growing private equity interest in mid-scale European hotel assets and may influence management or franchise arrangements in the region.
