Inter-Continental and Scanticon Joint Venture

Inter-Continental Hotels formed a joint venture with Scanticon International, a Danish company, to capitalize on the growing demand for conference facilities. This partnership was initiated after Scanticon successfully opened a conference hotel near Princeton, New Jersey, which demonstrated the potential for such venues. Under the terms of the joint venture, Inter-Continental held an 80% stake while Scanticon managed the remaining 20%. This structure allowed Inter-Continental to leverage Scanticon's expertise in conference hotel operations while expanding its own portfolio. Following the initial success, additional conference hotels were established in Minneapolis and Denver, further solidifying the venture's presence in the market.