PARIS—Following receipt of relevant regulatory approvals, InterContinental Hotels Group PLC (IHG) has completed the sale of InterContinental Paris – Le Grand to Constellation Hotels France Grand SA, an affiliate of Constellation Hotels Holding Limited. The terms of the transaction are unchanged from those announced in August 2014.
Gross disposal proceeds of €330 million ($368 million) have been received in cash and the proceeds will be used for general corporate purposes. IHG will continue to manage the hotel under a long-term management contract.