Intercontinental Hotel Group buys luxury brand Six Senses in $300m deal
Intercontinental Hotel Group said today it has agreed a $300m (£233m) deal to buy Six Senses Hotels Resorts Spas.
The Holiday Inn-owner said it had bought the luxury chain from Pegasus Capital Advisors giving it access to properties in locations such as the Seychelles, the Maldives, Thailand, Oman and Portugal.
Six Senses manages 16 hotels and resorts, has 18 management contracts signed and more than 50 deal under discussion.
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Intercontinental said the deal takes its portfolio of luxury hotels, and those in its pipeline, to 400 globally, amounting to 108,000 rooms.
It said it has the potential to grow the Six Senses estate to more than 60 properties globally over the next 10 years.
Intercontinental’s chief executive Keith Barr said: “Six Senses is an outstanding brand in the top-tier of luxury and one we've admired for some time. You only have to look at its iconic hotels and resorts to see how this acquisition will further round out our luxury offer.”
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Chief executive of Six Senses, Neil Jacobs, said: “This distinct proposition and the popularity of our award-winning estate, combined with IHG's scale, systems and expertise gives us the opportunity to accelerate Six Senses' global growth."
Anna Barnfather of broker Liberum said the deal showed that there was “still a lot of demand for high-end luxury managed hotel assets."