Chase Sapphire Reserve℠

Rumor: Anbang Planning on Bidding $9.2 Billion for IHG

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.

The hotel mergers and acquisitions scene seems to be ever active! This morning, the UK-based The Sunday Times reported that Chinese insurance conglomerate Anbang Insurance Group is planning a £7 billion bid (US$9.2 billion) for InterContinental Hotels Group (IHG).

Recognize the name Anbang? Back in October 2014, the insurance group made news by purchasing NYC’s famous Waldorf Astoria for $1.95 billion. Early this year, Anbang not only bought Strategic Hotels & Resorts for $6.5 billion, but also prompted a bidding war for Starwood Hotels — before eventually pulling its winning bid. Seemingly anxious to continue growing its real estate portfolio, Anbang reportedly entered talks to acquire IHG in June, which has led to this rumored bid.

Which IHG properties offer you the best value for points?
IHG has properties in 100 countries, including the stunning InterContinental Bora Bora.

IHG itself has been active in the hotel merger scene. In 2014, IHG acquired Kimpton Hotels. Last year, IHG was rumored to be interested in acquiring Fairmont — before Fairmont was eventually picked up by AccorHotels.

If an offer is made for IHG, it may prompt yet another hotel bidding war. According to Travel Daily Media, IHG rejected a takeover bid from Wyndham in 2014. So, Wyndham might resurface with another competing bid — if Anbang moves forward with offering a bid.

At this point, the possibility of a bid is merely a rumor. But, if there are any further developments, grab your popcorn. Like the bidding war for Starwood, this could be another entertaining bidding war.

Featured image courtesy of the InterContinental Hong Kong.

IHG® Rewards Club Select Credit Card

Apply Now
  • Earn 60,000 bonus points after you spend $1,000 on purchases in the first 3 months of account opening
  • Enjoy a free night each year of card membership at over 4,900 hotels worldwide
  • Earn 5 points for each $1 spent at our hotels
  • Earn 2 points per $1 spent on purchases at gas stations, grocery stores and restaurants
  • Bonus points redeemable at hotels such as Intercontinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts and Holiday Inn®
  • Automatic platinum elite status, as long as you remain a credit cardmember
  • $0 introductory annual fee the first year, then $49
Intro APR Regular APR Annual Fee Foreign Transaction Fee Credit Rating
N/A 16.24% -23.24% Variable $0 introductory annual fee the first year, then $49 0% Excellent Credit