Britain’s Grand Metropolitan PLC may sell off...

Britain’s Grand Metropolitan PLC may sell off its Inter-Continental Hotels Corp. to expand into other areas and boost earnings. In a surprise announcement, the diversified food, drinks and gaming conglomerate said it was approached by several potential suitors for the chain--its only hotel interest. The hotel group, which represents 6% of Grand Met’s profits, spans six continents and includes 100 hotels in 47 countries. Its luxury hotels include the Willard Inter-Continental in Washington, Mark Hopkins Inter-Continental in San Francisco, Inter-Continental Paris and the May Fair in London. Grand Met has said it is interested in making a significant acquisition in the food business.