IHG Hotels & Resorts signs 14-hotel portfolio deal in Japan

IHG Hotels & Resorts has announced a major portfolio agreement with GCP Hospitality, the hospitality arm of Gaw Capital Group, to expand its presence in Kyoto, Japan. The deal involves 14 hotels totaling 1,063 rooms.

The portfolio includes 12 Garner hotels, one Holiday Inn Express, and one unbranded hotel. These properties will undergo renovations and rebranding, with phased openings expected over the next 12 months. This agreement represents one of the largest hotel conversion deals in Japan in recent years and highlights the rapid global scaling of the Garner midscale brand.

Separately, energy giant Shell has initiated a share buy-back program. The company announced it has repurchased shares for cancellation, including 1.2 million shares on the London Stock Exchange and 200,000 shares on Chi-X, as part of a broader program intended to reduce the total number of shares in issue.