DENHAM, U.K. — Following its $430-million purchase of Kimpton Hotels in 2014, InterContinental Hotel Group’s CEO told Reuters that more acquisitions may be in the company’s future.
“We are very big, one of the biggest in the world even after consolidation. So we have sufficient scale,” Richard Solomons told Reuters during the International Hotel Investment Forum in Berlin.
The CEO said the company would be interested in smaller deals, similar to Kimpton. “We can add value quickly, rather than just adding a business because we want to be bigger.”
And he isn’t ruling out offers to take over IHG. “If somebody comes along and wants to make a bid, the board will look at it. We’re certainly not seeking it but as a public company, that’s the world you live in.” [reuters.com]