After four years operating in Nigeria, Intercontinental Hotels Group Plc has made the decision to withdraw from Nigeria following disputes with local partners on how to deal with how it was being run under receivership after a Nigerian court last May ordered Skye Bank, to take over the property from its owner Milan Group over debts of $29.8 million and 3.8 billion naira
The Intercontinental Hotel in Lagos, will no longer operate as an InterContinental-branded property as of Jan. 18, Simon Stamper, IHG’s director of African operations, said on Wednesday.
Source: Bloomberg