IHG plots deal spree after US raid flops | thesundaytimes.co.uk
InterContinental eyes luxury chain Fairmont and Switzerland’s Mövenpick following failure of Starwood talks. InterContinental Hotels Group is weighing bids for rivals Fairmont and Mövenpick after ruling itself out of a multibillion-pound merger with America’s Starwood last week. The FTSE 100 giant, which owns the Holiday Inn brand, is scrambling for takeover targets amid a frenzy of dealmaking in the hotel industry. Last week it was forced to deny it was pursuing a deal with Starwood following reports that the two had held early-stage talks. A tie-up would have created the world’s biggest hotel operator.
