 "Investors check into hotel stocks")
InterContinental Hotels Group PLC (IHG), a British multinational hotel company, to divest its 24 per cent stake in its joint venture (JV) with Duet India Hotels (DIH). Currently the JV has four properties and has 19 in the pipeline.
IHG said it was also looking at increasing number of Holiday Inn hotels to 100-150 in the next 10 years.
The company on Saturday opened its 30th property, managed by it, in Chennai. The new Holiday Inn Expressway is a 202-room property jointly promoted by Chennai-based SRP Tools and Bangalore-based Brigade Group and will be managed by IHG. Total investment in the project
