InterContinental Hotels Group PLC is ready to strip the brand next year from as many as 300 of the 2,700 Holiday Inn hotels owned by franchisees in North America if those properties don't undertake the brand's $1 billion overhaul by Feb. 1.
IHG, based in the U.K., started its overhaul of Holiday Inn two years ago in a bid to "contemporize" the 57-year-old brand and weed out older, poorly performing hotels.
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