IHG agreed a deal to take over the running of 12 Principal properties earlier this year – a move the hotel company says will make it the “UK’s leading luxury hotel operator” based on its number of current rooms and those being developed.

Later this year the Principal St David’s Hotel in Cardiff will become the UK’s first Voco, launched as a new brand by IHG in June, while Principal Edinburgh George Street is to be rebranded as an InterContinental property by late 2019.

IHG has also confirmed that several other Principal hotels will be rebranded as Kimpton properties – Principal London in Bloomsbury, Principal Manchester, Principle Edinburgh and Principal Blythswood Square Hotel in Glasgow.

The London property – which only opened earlier this year – will be the first to be converted to a Kimpton hotel later this year, with the other three following suit in 2019.

IHG has also completed its purchase of a 51% stake in Taiwan-based Regent Hotels & Resorts, which currently has six hotels in Asia and Europe. IHG wants to grow this portfolio to more than 40 properties in “key global gateway city and resort locations”.

In another move, IHG will take over the running of the Hayman Island resort in Australia from 2019. The 166-room property, which will be rebranded as Hayman Island by InterContinental, was previously operated by One&Only and has been closed since March 2017 after suffering severe damage in a cyclone.