InterContinental Hotels Group have put hotels with a total value of £512m up for sale in the latest stage of an asset disposal programme that will see significant funds returned to shareholders. The group, owner of the Crowne Plaza, Holiday Inn and InterContinental chains, has already raised £323m by selling hotels including the InterContinental Mayfair and its hotel on Central Park in New York. It has now put an additional 18 hotels, including buildings in Miami and Chicago, on the market. Although the company is disposing of its interest in the properties, it aims to retain the management contracts. Richard North, IHG chief executive, said more disposals would follow.