Developer turns to crypto to revive Australia resort [FT.com - Mergermarket]
Intercontinental Hotels Group American Depositary Shares (Each representing one Ordinary Share) (IHG)
US:NYSE Investor Relations:
ihgplc.com/investors
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Source: FT.com - Mergermarket
It is a perfect blend of nature and luxury featuring pristine beaches, coral reefs and a golf course designed by Greg Norman, the Australian golfer and friend of US president Donald Trump. But a proposed A$300m ($216m) resort on Great Keppel Island, a former tourism hotspot near the Great Barrier Reef, has sat on the drawing board for a decade. To break the logjam, Tower Holdings, a Sydney developer, says it is using cryptocurrency to sell its 1,000-hectare landholding. The plan is to deliver a project the Queensland state government hopes can boost the A$6bn reef tourism industry and revitalise island communities. “Since the financial crisis it’s been difficult to raise funds,” said Anthony Aiossa, chief executive of Tower Holdings. “Now we have been approached by a consortium that plans to use blockchain technology to finance the development.” PropertyBay, a company leading the group, plans to issue tokens backed by the land to institutional investors in an initial offer
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IHG
News
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - Apr 19Accesswire
- IHG Hotels & Resorts Launches Apple AirPlay in North American HotelsPR Newswire
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - April 18Accesswire
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - April 17Accesswire
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - April 16Accesswire
IHG
Sec Filings
- 4/5/24 - Form 6-K
- 4/2/24 - Form 6-K
- 4/2/24 - Form 6-K
- IHG's page on the SEC website