InterContinental Hotels Group PLC and Iberostar Hotels & Resorts (Iberostar) announce a long-term commercial agreement for resort and all-inclusive hotels. Iberostaris a family-run business based in Palma de Mallorca, Spain, with more than 65 years' experience in the hospitality industry, an excellent reputation for operating resorts in outstanding locations, and a strong commitment to quality and sustainability. Through this strategic alliance, Iberostar will retain 100% ownership, preserving its autonomy and values. Up to 70 hotels (24.3k rooms) will be added to IHG's system under theIberostar Beachfront Resorts brand, which will become the 18th brand for IHG. This will boost IHG's global system size by up to 3%. The first properties set to join the IHG system this December will give IHG guests increased choicein sought-after locations including Mexico, the Dominican Republic, Jamaica, Brazil and the Canary Islands (Spain). Further properties in Spain and other popular resort destinations in Southern Europe and North Africa are anticipated to join IHG's system over the course of 2023 and 2024. IHG guests will be able to look forward to memorable stays in award-winning hotels*, ranging from family friendly premium offerings to adult only luxury, in leading resort destinations, including: Iberostar Grand Paraiso (Riviera Maya, Mexico); Iberostar Selection Hacienda Dominicus (Bayahibe, Dominican Republic); Iberostar Grand Rose Hall (Montego Bay, Jamaica); and Iberostar Selection Anthelia (Tenerife, Spain). These add to IHG's existing 260 resort properties that span brands including Six Senses,Regent, InterContinental, Kimpton, Hotel Indigo, Crowne Plaza, Holiday Inn and Holiday Inn Club Vacations. IHG has fewer than 20 resort properties in the countries where the Iberostar Beachfront Resorts properties are located. The agreement therefore significantly increases and broadens IHG's resort footprint.



The portfolio of Iberostar propertieswill gain access to IHG's enterprise platform, including its distribution channels and the IHG One Rewards loyalty programme with more than 100 million members. IHG in turn will increase awareness of its current brands with a new set of travellers, and meet a clear desire from guests and loyalty members for more resort destinations and the option of all-inclusive stays.