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Hotel InterContinental for sale

InterContinental Hotels Group Plc plans to sell the company's Budapest unit, the company announced. InterContinental also plans to sell some of its other hotels in Amsterdam, Cannes, Rome, Frankfurt, Madrid and Vienna. The sale will take place in nine months. Each hotel will be sold with its management rights. InterContinental already sold dozens of hotels in the US, Canada and Australia in 2004 and plans to operate its hotels in a franchise scheme instead of owning them in the future.