by Donald Wood
Last updated: 9:25 AM ET, Wed February 13, 2019
InterContinental Hotels Group (IHG) has announced an agreement to purchase the brands and operating companies of Six Senses Hotels Resorts Spas for $300 million in cash.
According to Reuters.com, IHG is looking to re-focus on competing with Marriott and Hilton by expanding its luxury portfolio with the addition of Six Senses to its Crowne-Plaza and Holiday Inn chains. In total, IHG boasts 400 properties with 108,000 rooms.
"IHG's growing portfolio of luxury brands is a collection of the very best in the travel industry," IHG CEO Keith Barr said in a statement. "Each one offers something unique to our guests, and together they offer an unparalleled choice of locations and experiences."
"We're incredibly proud to welcome Six Senses into our family of brands and look forward to opening more stunning hotels, resorts and spas - each one staying true to Six Senses' world-renowned reputation for wellness and an unwavering commitment to purposeful travel," Barr continued.
Six Senses manages 16 hotels and resorts, with 18 management contracts signed in its pipeline and more than 50 further deals under active discussion. The company operates properties in the Maldives, the Seychelles, Thailand, Oman, Portugal and more.
IHG officials revealed plans to expand the Six Senses brands to more than 60 properties globally over the next decade, including into the Manhattan area of New York City. Six Senses generates fee revenues of over $13 million each year.
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