InterContinental Hotels Group Tuesday pointed to a recovery in the international hotel market as it said it will push ahead with the sale of its flagship New York Barclay and InterContinental Park Lane hotels.

The company first flagged the sale of the 87-year old New York Barclay hotel in 2009, but the sale was put on hold in 2011 as market conditions deteriorated.

But as demand from business travellers returns apace, and demand increases for flagship real estate assets, fuelled by sovereign wealth funds and wealthy overseas investors looking for strong returns and trophy assets, the "optimum market conditions" that IHG was waiting for have started to arrive.

"We understand demand for the London asset has been strong and would anticipate management are positive on the likelihood of selling in 2013," says Liberum Capital analyst Patrick Coffey.

Full story:

www.marketwatch.com/story/ihg-to-sell-flagship-hotels-as-market-improves-2013-02-19-3485823