UK-based hospitality company InterContinental Hotels Group (IHG) is nearing to acquire the brands and operating companies of Thai hotels operator Six Senses Hotels Resorts Spas.

IHG will pay approximately $300 million in cash for all brands and operating companies of Six Senses, which generates fee revenues of over $13 million.

IHG said that the move will take its total portfolio of luxury hotels to 400 properties with 108,000 rooms.

Moreso, IHG will expand Six Senses to more than 60 properties globally over the next decade, including to the high-end West Chelsea, Manhattan area of New York.