InterContinental Hotels (LSE: IHG) is coming to the end of an epic asset sale. It’s sold 175 hotels, raising £3bn, and has returned £2.57bn to shareholders so far.
You might think that means InterContinental no longer has much of a business, but you’d be wrong. It still owns valuable brands such as Holiday Inn, InterContinental, and Crowne Plaza, and it’s now concentrating on a large franchise operation as well as managing hotels for other owners….