The Inter-Continental Hotel Group (IHG) is planning to sell its remaining 25 properties which include its InterContinentals in London, Paris, New York and Hong Kong.
The 25 properties have a book value of £1bn.
Since April 2003, the group has sold 203 properties for around £3bn mostly on a sale and long term manage basis.
In its full year results for 2006, IHG reported increased revenue of 13% to £805m and an operating profit of £258m.
The year also saw the sell off of 31 European properties for £680m.
Globally the group's revenue per available room (revPAR) rose by 9.8% while in the EMEA region it rose by 12.1%.
The Middle East saw a 19% rise while in Continental Europe it increased by 9%, mainly due to improved performance in France and Germany.
In the UK, its Holiday Inn and Express by Holiday Inn saw a 6.3% growth in revPAR.
Operating profit from continuing operations in the EMEA region grew by 16% to £36m.
Both the InterContinental Le Grand Paris and the InterContinental London Park Lane underwent extensive refurbishment. The former is now showing a 25.8% increase in revPAr while the second is only just becoming fully operational again.
The Group said it now owned or managed 556,246 rooms and expected to exceed its target of up to 60,000 extra rooms by 2008 compared with the 537,675 figure for June 2005.
Mr Andrew Cosslett, IHG's ceo, said: "2006 was a successful year for IHG on all fronts. We outperformed the market and saw a record level of signings for IHG brands.
"We now expect to exceed our growth target of adding 50,000-60,000 rooms on a net and organic basis by the end of 2008.
"We have strengthened the business and are executing a clear strategy. We have made a good start to 2007 with the opening of InterContinental Los Angeles and the signing of our 125th hotel in China, the Crowne Plaza Sun Palace Beijing.
"We continue to be very positive about the Company's prospects."