InterContinental Hotels Group
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| InterContinental Hotels Group | |
|---|---|
| Name | InterContinental Hotels Group |
| Type | Public limited company |
| Traded as | IHG, NYSE, IHG |
| Industry | Hospitality |
| Founded | 0 2003 |
| Founder | Bass Brewery |
| Hq location | Denham, Buckinghamshire |
| Hq location country | England |
| Key people | Deanna Oppenheimer (Chairman), Elie Maalouf (CEO) |
| Products | Hotels, resorts, vacation rentals |
| Num employees | 325,000 (2023) |
| Revenue | ▲ US$4.62 billion (2023) |
| Operating income | ▲ US$1.07 billion (2023) |
| Net income | ▲ US$750 million (2023) |
| Assets | ▲ US$4.33 billion (2023) |
InterContinental Hotels Group is a British multinational hospitality company headquartered in Denham, Buckinghamshire. It is listed on the London Stock Exchange and the New York Stock Exchange and is a constituent of the FTSE 100 Index. The group operates a diverse portfolio of hotel brands through a franchise model, management agreements, and owned and leased assets, with a global presence spanning over 100 countries.
History
The company's origins trace back to Bass Brewery, which acquired the Holiday Inn brand in 1988. Following a series of major acquisitions, including InterContinental in 1998, the hospitality division was demerged from Bass plc in 2000 to form Six Continents PLC. The current entity was created in 2003 when Six Continents sold its soft drinks business and renamed itself, focusing solely on hotels. Key milestones include the 2005 acquisition of Candlewood Suites, the 2015 purchase of Kimpton Hotels & Restaurants, and the 2023 launch of a strategic alliance with IHG Hotels & Resorts to expand its luxury portfolio.
Properties
The group's portfolio comprises over 6,200 properties and approximately 946,000 rooms worldwide. Its largest markets by number of rooms are the United States and China, with significant growth in regions like Southeast Asia and the Middle East. Notable owned and managed assets include the InterContinental Hong Kong, the Willard InterContinental Washington D.C., and the Regent Phu Quoc. The company also operates several iconic historic hotels, such as the Hotel InterContinental Paris Le Grand and the InterContinental London Park Lane.
Brands
It manages a portfolio of 18 brands segmented by market tier. Luxury and lifestyle brands include InterContinental Hotels & Resorts, Regent Hotels & Resorts, Kimpton Hotels & Restaurants, Vignette Collection, and Hotel Indigo. Premium brands feature Crowne Plaza, Holiday Inn, Holiday Inn Express, and voco Hotels. Essential offerings comprise avid hotels, Staybridge Suites, Candlewood Suites, and Atwell Suites. Its extended stay and suites segment is served by brands like Holiday Inn Club Vacations. The acquisition of Six Senses Hotels Resorts Spas in 2019 further strengthened its luxury footprint.
Operations
The company primarily operates under a franchise model, with over 80% of its rooms managed by third-party owners. It also holds management contracts for properties like those in the Louvre Hotels Group partnership. Key operational functions are supported by its IHG Rewards Club loyalty program and the IHG Concerto cloud-based technology platform. Global operations are divided into three regions: the Americas, Europe, Middle East, Asia and Africa, and Greater China, each led by a regional CEO reporting to the Chief Executive Officer.
Sustainability
Its sustainability strategy, "Journey to Tomorrow," focuses on environmental and social goals aligned with the United Nations Sustainable Development Goals. Commitments include achieving net zero carbon emissions across its estate by 2030 and eliminating single-use bathroom amenities. The group collaborates with organizations like the World Travel & Tourism Council and has received recognition from the Dow Jones Sustainability Indices. Initiatives also extend to supporting local communities through partnerships with charities like the British Red Cross and the International Tourism Partnership.
Financials
For the fiscal year 2023, the company reported total revenue of US$4.62 billion and operating profit of US$1.07 billion. Its business model generates significant revenue from franchise fees and management contracts, with key financial metrics including RevPAR (Revenue per Available Room) growth. It returns capital to shareholders through dividends and share buybacks, as overseen by the Board of Directors. The group's financial performance is closely tied to global travel trends, with recovery from the COVID-19 pandemic driving strong growth in the leisure travel sector.
Category:Hospitality companies of the United Kingdom Category:Companies listed on the London Stock Exchange Category:Hotel chains Category:Companies based in Buckinghamshire