MIAMI, FL (June 15, 2010) � IHG (InterContinental Hotels Group), [LON: IHG, NYSE:IHG (ADRs)], the world's largest hotel group by number of rooms, and Latin America�s most experienced international hotel company, today announced that it had signed an agreement with Colombia-based Espacios Urbanos S.A. to manage a new-build InterContinental property in Cartagena, Colombia.  The hotel will be the 23rd InterContinental Hotels & Resorts property in Latin America and the Caribbean (19 open and 4 under construction). 

Scheduled to open in early 2013, the 280-room InterContinental Cartagena will be located in the city�s Bocagrande district -- beachfront on San Martin Avenue -- approximately two miles from the historic walled Old City and five miles from Rafael Nuñez International Airport. 

The hotel will be one of the anchors of a 215,000-square-foot mixed-used development that includes a casino, upscale retail shops, movie theaters and restaurants. 

The property itself will include more than 16,000 square feet of meeting space, a spa, fitness center and various restaurants and bars. 

The developer, Espacios Urbanos S.A., has more than 20 years of experience in the development of large-scale projects in Colombia, as well as throughout the whole of Latin America.  Espacios Urbanos S.A. has managed the development of projects such as the Trump Ocean Club (Panama City, Panama); and Torres Unidas and Centro Comercial Gran Estación (Bogota, Colombia), among others. 

Located on the northern coast of Colombia, Cartagena is one of the oldest cities in the Americas, founded by the Spanish conquistador Pedro de Heredia in 1533.  Its famed colonial Old City and San Felipe fortress is a UNESCO World Heritage Site due to its historical value. 

With a population of more than 1.2 million, Cartagena is Colombia�s fifth-largest urban area and a key financial center in the Caribbean, as well as one of the region�s most popular tourist destinations. Its unique old world charm, coupled with major new urban centers, has made Cartagena one of the country�s most successful cities. 

�Our InterContinental Hotels & Resorts brand has been a part of Colombia for more than 50 years,� says Jim Anhut, Chief Development Officer, IHG, Americas.   �There is no other international hotel company that has had such a continuous presence in the country.  We value the opportunity to expand our portfolio, and I�ve no doubt that the InterContinental Cartagena will be a triumph.� 

�We had the opportunity to evaluate a number of the international hotel companies working in Colombia,� adds Carlos Alberto Serna, General Manager of Espacios Urbanos, S.A.  �After finalizing that process, we felt that IHG, and the legacy and value proposition of InterContinental Hotels in Colombia, best suited the long-term goals for the property.�

�We are very proud to be working with Espacios Urbanos S.A.,� concludes Alvaro Diago, COO, IHG, Latin America and Caribbean.  �They are a very highly-regarded development organization within this region and we look forward to a long and mutually beneficial relationship.� 

IHG currently has five hotels in Colombia: two InterContinental, one Crowne Plaza, and two Holiday Inn Express properties.  The company is also experiencing continued growth of the InterContinental Hotels & Resorts brand in Mexico as well. 

"In addition to the signing of the InterContinental Cartagena, we are delighted to have signed another fantastic InterContinental hotel with Grupo Presidente in Mexico City,� said Anhut.  �We look forward to the development of the Presidente InterContinental Santa Fe Mexico City and continuing to grow our strong relationship with Grupo Presidente."

As the world�s first truly global hotel brand, InterContinental Hotels & Resorts, established in 1946 in Brazil, has had a continuous presence in Latin America.  There has been no brand in the region with more international appeal. InterContinental Hotels & Resorts strives to provide its guests with an experience that is unique to each destination and prides itself on maintaining uncompromised global standards and respect for the heritage of the communities each hotel calls home. 

IHG has nearly 190 hotels in Mexico, Central and South America and the Caribbean, and has been serving Latin America for 64 years. IHG has hotels situated in nearly every key market throughout Latin America and the Caribbean.

InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms.  IHG franchises, leases, manages or owns, through various subsidiaries, over 4,400 hotels and more than 650,000 guest rooms in 100 countries and territories around the world.  The Group owns a portfolio of well recognized and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites® and also manages the world's largest hotel loyalty program, Priority Club® Rewards with 48 million members worldwide.

IHG has 1,300 hotels in its development pipeline, which will create 160,000 jobs worldwide over the next few years.