InterContinental Hotels Group (IHG), owner of the Staybridge Suites brand, today announced an agreement with Hospitality Properties Trust (HPT) to rebrand 15 Summerfield Suites by Wyndham hotels and to immediately convert 14 of them to Staybridge Suites hotels. The transaction will immediately boost the distribution of the Staybridge Suites brand by 25%, increasing the number of open properties from 57 to 71.

This transaction, which follows the announcement in July 2003 of HPT's purchase of 16 Staybridge Suites from IHG, means that HPT will own 30 Staybridge Suites properties - all managed by IHG. As part of this agreement, HPT has committed to investing $20m towards the refurbishment and modernization of the hotels.

Commenting on the transaction Richard North, chief executive, InterContinental Hotels Group said:

"Extending the network of our high-quality, strongly differentiated brands is a top priority for InterContinental Hotels Group. This transaction allows us to further increase the distribution of our Staybridge Suites brand and gives us a presence in a number of important new locations in the US."

Steve Porter, president, InterContinental Hotels Group, the Americas, added: "The Staybridge Suites brand has grown at a record pace since we introduced it five years ago and the addition of these properties further accelerates that growth."

Continued Porter, "We are very pleased that HPT has appointed IHG to manage their entire Staybridge Suites portfolio, reflecting the solid performance of our management team. HPT is one of the strongest and most respected real estate investment trusts in the market, and we are delighted to continue strengthening our relationship with them."

The 14 hotels planned for conversion are located in desirable, geographically diverse markets throughout the Americas including northern and southern California, central and northern New Jersey, and Orlando, Florida, which have no Staybridge Suites representation at present. Staybridge Suites will now be located in over 50 key markets.