InterContinental to sell Barclay NY hotel

InterContinental hotel group is set to sell its Barclay New York hotel at 111 East 48th Street between Park and Lexington avenues, according to the McClatchy-Tribune. The Midtown hotel has an asking price of roughly $321.14 million. Although there is no word yet on which specific buyers are eyeing the 685-room, 14-floor hotel, sources say that it’s attracted interest from international bidders in Qatar, Abu Dhabi and China. But while InterContinental is looking to shed this property, the company isn’t downsizing across the board in Manhattan — last summer the hotelier unveiled the new 607-room InterContinental Hotel Times Square, with Shake Shack taking the ground-floor retail space. [McClatchy-Tribune via Hotel Online]