Intercontinental Hotels (LON:IHG) on Monday denied speculation that it is considering selling itself.
IHG was rumoured last week to be exploring strategic options including a potential sale or merger, maybe with a rival such as Starwood Hotels & Resorts (NYSE:HOT).
The group was talking to financial advisers about a possible sale of the group or a tie-up with a rival as the sector consolidates, Bloomberg cited people with knowledge of the matter as saying on Friday.
But IHG said in a statement on Monday: "Following recent market speculation, the board of directors of IHG states that it is not considering a potential sale or merger of the company."
IHG, which owns the eponymous hotel chain as well as brands such as Holiday Inn and Crowne Plaza, was first said to have held early-stage talks with Starwood at the end of July.
The group was reported to have taken on Bank of America Merrill Lynch to advise it on a deal while Starwood allegedly appointed investment bank Lazard.
Starwood employs more than 180,000 people at more than 1,200 hotels in some 100 countries.
It owns, runs and franchises hotels and resorts under the St. Regis, Luxury Collection, W, Westin, Le Méridien and Sheraton brands, among others.