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IHG Sells Big Stake in InterCon NY Barclay

NEW YORK CITY—The 685-room property in East Midtown is now majority owned by Constellation Hotels.

By Rayna Katz | Updated on April 03, 2014

NEW YORK CITY—InterContinental Hotels Group has sold an overwhelming majority stake of its historic InterContinental New York Barclay for $240 million, which values the hotel at $300 million prior to refurbishment.

Constellation Barclay Holding US, LLC—an affiliate of Constellation Hotels Holding Ltd.—purchased 80% of the 685-room hotel in a transaction arranged by JLL. IHG will hold the remaining 20% of the property, which is located at 111 E. 48th St.

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