British hotelier IHG Hotels & Resorts will open luxury InterContinental properties in Melbourne, Canberra and Sydney and re-introduce its Regent brand after a two-decade absence in a major shake-up of the industry.

The company announced plans to rebrand a number of its lower-tier Crowne Plaza Hotels as part of a deal with Salter Brothers, the local fund manager that owns the properties and is preparing to float a $2 billion portfolio of accommodation assets on the ASX within 18 months.