I, for one, will be sad to see the IC Barclay go

Discussion in 'IHG | Rewards Club/Ambassador' started by Bob Smolinsky, Feb 19, 2011.  |  Print Topic

  1. Bob Smolinsky
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    Bob Smolinsky Gold Member

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    If as being reported over at FT is true and the IC Barclay is to be sold, I for one will be sad.

    I know every one loves the new IC Times Square, but for me, it's just too new and the location sucks.
     
  2. The Barclay certainly had its issues, but I prefer to stay closer to the 4-5-6 trains than over by the new IC.
     
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  3. Bob Smolinsky
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    Bob Smolinsky Gold Member

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    Absolutely! TS is way too busy and imho, seriously a lower scale location than an IC should be located at.
     
  4. TheBeerHunter
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    Forgive my ignorance, but -- just because it's being sold doesn't mean it's leaving the chain, does it? It's one of the few hotels owned by IHG corporate. If the new owners want to keep it under the IHG banner, can't they?
     
  5. Bob Smolinsky
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    True of course....but would they really sell it then? Guess time will tell....
     
  6. sobore
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    I was thinking the same thing. I wonder what the official plans are for the property.
     
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  7. TheBeerHunter
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    I would think they'd offload it because it's a physical asset that comes with its own headaches, etc. rather than just being a brand that they manage. One less variable for them to deal with.

    But then again, what the heck do I know![​IMG]
     
  8. Raffles
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    The IHG accounts have for many years been quite clear on the corporate plan. They have been offloading assets as much as possible, with the caveat that they want to keep physical property in main 'gateway' cities, purely because if they lost a presence in London, Paris etc it would weaken the image of the chain.

    NYC would be on this list, except that (even if IHG does not own Times Square) The Barclay simply needs SO much money spending on it - the $125m spent on London wouldn't even get you started - that I doubt they can face it.

    No reason why there can't be 2 IC's. Currently 2 in Paris and will be 2 in London soon (and there was 3 at one point remember).
     
  9. Typically when a chain sells a property they include a long term lease to run the hotel. IC would then use all or some of the proceeds from the sale and upgrade the whole property under terms negotiated in their lease.
     
  10. Raffles
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    Raffles Silver Member

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    It has gone both ways with past IC sales. They seem to look at the offers on the table and pick the highest. If someone offers them more money but insists that Starwood run it post renovation, they will take it. That is what happened with the Churchill (went to Hyatt) and Mayfair (went to Radisson) in London.

    A purchaser may wonder what IC brings to the party now, given that Times Square is 100x nicer and most IC loyalists will be heading there. The new owner won't care what people who choose the hotel purely because of location think, because they will remain loyal whatever flag is outside.
     
  11. In the case of London it was due to the fact they had a major expense with the IC London at the time. I believe they are looking at a second IC there now.
     
  12. Raffles
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    Under construction. But this is a management contract, not a corporately owned property, and will very much be second-fiddle to Park Lane given the location.
     
  13. Where is the exact location?
     
  14. ag51
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  15. Thanks.. won't really work for me as my daughter lives in Nottinghill
     
  16. ag51
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    Only 6 stops on the Circle line!
     
  17. Raffles
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    Raffles Silver Member

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    Circle Line will be a few seconds walk away and that will take you there (on the days when it can be bothered to operate, of course [​IMG] )
     
  18. Unless the rates are much cheaper than the IC London it won't be worth my effort. I can easily walk across hyde park from the IC and up to Nottinghill road..........even in the rain;)

    Thanks for the tips...a dn you are correct about the circle line. It appears to be down most w/e's which is when I'm there
     

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