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SAN FRANCISCO—Activist shareholder Marcato Capital Management on Tuesday reiterated its call for Intercontinental Hotels Groupto seek a merger with another large operator in the sector. In a letter and presentation to IHG shareholders, locally based Marcato identified six potential merger partners for the world’s largest hotelier: Starwood Hotels & Resorts, Marriott, Hilton Worldwide Holdings, Wyndham Hotel Group, Hyatt and Accor S.A.


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