Intercontinental Hotels Group is to add the first property under its luxury Regent Hotels offering since it acquired the brand two years ago.

The agreement with owner Shanghai 21st Century Hotel Co Ltd will see IHG take over the management of an existing hotel and residences in the Lujiazui area of Shanghai, from May 16.

Business Traveller understands that the property is currently operating as the Four Seasons Hotel Shanghai at Pudong – earlier this month Four Seasons confirmed that its management of the property would be terminated “In a mutual agreement with the property owner Shanghai 21st Century Hotel Co Ltd” from May 15.

IHG said that “All existing reservations will be automatically forwarded and honoured by Regent Shanghai Pudong”.

The group acquired a 51 per cent stake in Regent Hotels and Resorts in 2018 and said that “Since then IHG has worked quickly to combine its expertise in luxury with Regent’s deep heritage and revered legacy, relaunching the brand by evolving it to appeal to the modern luxury traveller”.

As reported last week, the Intercontinental Hong Kong is to close on April 20, before undertaking “its biggest renovation in 30 years” ahead of reopening as the Regent Hong Kong in 2022.

Regent is also set to welcome new properties in Phu Quoc, Bali, Kuala Lumpur and Chengdu in the next two years.

Commenting on the news Justin Channe, managing director, Regent Hotels and Resorts, IHG, said:

“Welcoming Regent Shanghai Pudong to the Regent family represents a significant milestone for the brand not only in Greater China but also in the world. Since acquisition we have been committed to making the brand a real leader within luxury hospitality and taking it to the world’s best destinations.

“We are excited to team up with Shanghai 21st Century Hotel Co Ltd, our long-term strategic partner, to bring Regent to Shanghai in such a prime location. We look forward to working closely with the owner to proudly bring Regent hallmarks to life in the hotel.”

IHG is also set to open a dual-branded Intercontinental and Holiday Inn-branded property at Shanghai Pudong International Airport’s new terminal complex in 2024.