IHG Signs 11-Hotel European Deals, Repurchases 20,000 Shares at $142.06
IHG signed long-term franchise agreements for 11 hotels in Germany, Belgium and France, adding 1,808 rooms across Holiday Inn, voco and Garner brands and raising its European development pipeline to 264 properties. It repurchased 20,000 ordinary shares at an average price of $142.06, cutting its outstanding shares to 150.11 million.
1. European Franchise Expansion
IHG has signed long-term franchise agreements for 11 hotels—six in Germany (1,125 rooms), four in Belgium (497 rooms) and one at Paris CDG Airport (186 rooms)—rebranding them under Holiday Inn, voco and Garner, marking Garner’s debut in Belgium. These properties, currently under PentaHotels, will join IHG’s system by H1 2027 and boost its European pipeline to 264 properties.
2. India Management Agreements
The company also secured management agreements for a 200-room Holiday Inn in Sriperumbudur, Tamil Nadu, set to open in Q1 2029, and for Holiday Inn Goa Kadamba, scheduled to debut in early 2030, targeting corporate and transit guests with dining outlets, event spaces and leisure facilities.
3. Share Repurchase Details
On April 22, IHG repurchased 20,000 ordinary shares at prices between $140.80 and $143.60 (average $142.06) via Goldman Sachs International; these shares will be cancelled, reducing issued shares to 150,111,125.