![]() Investor Relations (Heather Wood Catherine Dolton): +44 (0) 1895 512 176 We are very excited to be developing a long-term relationship with IHG and look forward to working with them on this high quality hotel, as well as future opportunities." "IHG has a superb track record in lodging and from launch in 2004 has quickly established Hotel Indigo as a premier brand. "We are extremely pleased to acquire San Diego's first LEED-certified hotel and our first Hotel Indigo property" said James Francis, President and CEO of Chesapeake Lodging Trust. Solomons added: "We are now able to recycle the capital to develop our brands, for example through the recently announced joint venture with Brack Capital Real Estate to develop a Hotel Indigo hotel on the Lower East Side of Manhattan." We built this showcase Hotel Indigo using IHG's own capital in 2009 to drive growth of this branded-boutique hotel brand across the Americas and accelerate international expansion." Since then IHG has signed 45 Hotel Indigo hotels globally including 14 in Europe and 6 in Asia. Richard Solomons, incoming Chief Executive and currently CFO and Head of Commercial Development of IHG, said: "The sale of the Hotel Indigo San Diego is another great example of our asset light strategy and brand building in action. Following this sale, IHG has 12 owned hotels with the InterContinental New York Barclay currently on the market. During 2011 alone, IHG has agreed proceeds of over $140m for the sale of three hotels and divestment of an equity stake, with a combined net book value of $105m. Over the same period, IHG has returned almost $6 billion to shareholders. Since 2003, IHG has released $5.7 billion of capital through the sale of 187 hotels and the divestment of equity stakes. The sale is a continuation of IHG's strategy of growing its management and franchise businesses and reducing capital intensity. IHG will continue to manage the hotel under a long-term management agreement. London, 20 June 2011 - IHG (InterContinental Hotels Group) announces the sale of the 210-room Hotel Indigo San Diego to Chesapeake (Chesapeake Lodging Trust) for US$55.5 million in cash. IHG announces sale of Hotel Indigo San Diego for $55.5m Transforming Existing Hotels to Net Zero Carbon.Supporting the Trevor Project at Kimpton.Finding ways to reduce packaging in our supply chain.Helping to build a fairer future with Project L.O.V.E.Recognition for our efforts in the 2021 HERoes Advocates list.Supporting a multistakeholder project on ethical recruitment.Working with Byredo to reduce waste within the InterContinental brand.Responsible procurement at our new Windsor Head Office.Purpose-driven procurement – supporting indigenous populations.Annual Reports and Responsible Business Reports.Petco Park and Convention Center San Diego Trolley Station are just minutes away on foot. Hotel Indigo San Diego - Gaslamp Quarter is surrounded by the area's sightseeing attractions, including San Diego Convention Center, San Diego City College and Horton Plaza, which are a short walk away. Guests can also try one of the various bars and cafés in the surrounding area. Hotel Indigo San Diego - Gaslamp Quarter's first-class facilities comprise a relaxed bar and an in-house restaurant. Hot drinks can be made with the complimentary tea and coffee supplies, and enjoyed in the comfort of the room's seating area. ![]() ![]() The chic rooms at this 3-star hotel have movies-on-demand, a flat-screen TV and an iPod docking station. Additionally, the multilingual staff are on hand to provide local information. The hotel has been recently refurbished and offers a 24-hour reception, an express check-in and check-out feature and valet parking. It also provides an executive floor, 24-hour room service and a rooftop terrace. 8.0 Located under a 10-minute stroll from Gaslamp Quarter San Diego Trolley Station, Hotel Indigo San Diego - Gaslamp Quarter offers guests a convenient base while in San Diego.
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