Property in Nordelta Will Incorporate Guestrooms, Residences and Spa

IHG (InterContinental Hotels Group), (LSE:IHG) (NYSE:IHG)(ADRs) the world’s largest hotel group by number of rooms, has signed an agreement with Complejo Bahia, S.A. for the InterContinental Nordelta Buenos Aires Hotel, Residences & Spa. Set to open in early 2011, the property will be located on the Bahia Grande in Nordelta, a mixed-use master plan community in Greater Buenos Aires with residences, restaurants, shops and a world-class golf course. The hotel will be owned by Complejo Bahia, S.A. and will be managed by IHG’s Americas division, The Hotel Management Group, under a long-term management contract.

Located in the north part of Buenos Aires, approximately 33 kilometres from the city center, lies Nordelta, an exclusive community that includes thirteen neighborhoods and has a feeling of a village within a city. The community provides an array of amenities, including swimming pools, soccer and tennis fields, a shopping mall, a medical center, a sports club, three private schools, playgrounds and a private country club. There is also a corporate park situated in Nordelta with several thriving businesses and multi-national corporations. Nordelta’s landscape and series of lakes, canals, grass and trees, makes it an excellent backdrop for the Nordelta golf course, the only Jack Nicklaus golf course in Argentina and an approved course of the PGA Tour with 18 holes, a driving range, a chipping green and a putting green.

“We are delighted to be signing the InterContinental Nordelta Buenos Aires Hotel, Residences & Spa as our second InterContinental hotel in Greater Buenos Aires. This is a significant project for us and we are thrilled to be able to establish presence in such a great location in the thriving community of Nordelta," said Alvaro Diago, Area President, IHG, Latin America. "We believe that this new property will continue to strengthen our position across the region, as well as further demonstrate IHG’s commitment to expanding in new, innovative and up and coming locations."

"The signing of this new hotel is representative of the deep respect we have for IHG, as a hotel group, and the brand value that is associated with the InterContinental Hotels & Resorts name,” said Walter Mosca, President of Complejo Bahia, S.A.