holdings in 2005, selling its 48 percent stake in Britvic for £371 million through an initial public offering. In 2015, IHG acquired Kimpton Hotels, a boutique hotel brand with 62 managed properties, for $430 million. In February 2021, IHG announced an annual loss of $153 million caused by restrictions related to the COVID-19 pandemic. However, the company expected that the Holiday Inn Express brand would help in the recovery process. Operations The company's worldwide headquarters and European offices are located in Denham, Buckinghamshire, England. IHG maintains regional offices in Atlanta, Singapore and Shanghai. In 2012, IHG claimed more than 5,400 hotels, with 4,433 operated under franchise agreements, 907 managed by the company but separately owned and eight directly owned. As of 31 March 2019, IHG has 842,759 guest rooms and 5,656 hotels across nearly 100 countries. Brands IHG has 18 brands marketed under five segments: Criticism International boycott The InterContinental Hotels Group became the target of an international boycott campaign in May 2013 over their plan to operate an InterContinental-brand luxury hotel in Lhasa, Tibet. According to campaigners from the Free Tibet campaign, the hotel was a "PR coup for the Chinese government." Price fixing In July 2012, the Office of Fair Trading alleged that IHG had broken competition law by preventing online travel agents from discounting the price of room-only hotel accommodations. In February 2014, IHG agreed to end the practice of price fixing. Data breach In February 2017, IHG admitted to a data breach. The company asserted that the compromise was minor, having impacted 12 properties. However, in April 2017, it raised the number to 1,200 hotels. The attackers had installed malware designed to access payment-card data that could be used to clone cards and make fraudulent payments. In September 2022, IHG admitted another data breach which had significantly disrupted the booking applications. IHG confirmed they were working on getting the systems back up and running and further details would follow. BBC later reported that the culprits were a Vietnamese couple that were unable to execute a ransomware attack and so deleted internal data for fun. VAT rules In May 2012, the UK Advertising Standards Authority (ASA) warned IHG that it must include VAT in its advertised prices. In August 2012, a report by Which? magazine showed that IHG was continuing to violate VAT rules. Living wage In November 2017, London mayor Sadiq Khan accused IHG of failing