Published: April 06, 2005
The Plasencia Group Advises Intercontinental Hotels Group on the Sale of the Americas Hotel Portfolio
InterContinental Hotels Group in transaction involving fifteen hotels in North America.
TAMPA, Fla., April 6, 2005 (PRIMEZONE) -- The Plasencia Group, Inc., and it's affiliate, Regent Street, have completed the largest portfolio transaction in North America thus far this year on behalf of InterContinental Hotels Group, PLC with the sale of thirteen hotels valued at $425M to Hospitality Properties Trust and two hotels valued at $303.5M to Strategic Hotel Capital, Inc. . The fifteen assets in the Americas portfolio include InterContinentals, Crowne Plazas, Holiday Inns and Staybridge Suites.
Lou Plasencia, President and CEO of The Plasencia Group, commented, "The sale of the Americas Hotel Portfolio culminates a very successful process that began last summer as part of InterContinental Hotels Group's timely global strategic disposition program. We are pleased that we were able to exceed our client's expectations while working with two teams of true professionals at HPT and Strategic on two very complicated transactions."
About The Plasencia Group and Regent Street
Founded in 1993, The Plasencia Group (www.tpghotels.com) is the leading hospitality transaction and consulting services firm representing owners of hotels, resorts, and golf courses. In conjunction with its affiliate, Regent Street, The Plasencia Group has provided personalized, valued-added investment opportunities and services to clients such as CIGNA , Host Marriott Corporation , MeriStar Hospitality Corporation and Metropolitan Life Insurance Company . With regional offices in Tampa, Chicago, Dallas, Hartford, Houston, Little Rock, Providence and San Diego, firms offer a full range of value-added solutions, including transactions, property valuation analysis, financial and strategic planning, asset management and disposition, and proprietary industry research.
CONTACT: The Plasencia Group
Jessica Corcoran
214-477-0701
jcorcoran@tpghotels.com
Steven Gaynes Communications
Steven Gaynes
860-734-0521
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