Britain's InterContinental Hotels Group said on January 31 that it was putting two more portfolios of hotels up for sale with a total book value of about 600 million pounds ($1.06 billion).

InterContinental said it would dispose of seven hotels in continental Europe in the next nine months and a portfolio of mid-scale European hotels at a later date.

"These two portfolios of hotels have a net book value of approximately 600 million pounds, and constitute the final tranche of hotels that IHG had previously announced it would sell," it said in a statement.

(http://ehotelier.com)