Earnings ·
IHG reports Q3 RevPAR +5.3%, issues €850m bonds, and completes $707m of its buyback programme
ICHGFIntercontinental Hotels Group PLC
InterContinental Hotels Group reported a third-quarter global RevPAR increase of 5.3%, driven by strong performance in the Americas (6.8%) and EMEAA (5.0%), while Greater China declined 3.3%. The company opened 92 hotels in Q3, bringing year-to-date openings to 289 properties, and signed 164 new hotels. Financially, IHG issued €850 million of bonds maturing in 2029 and 2033 with coupons of 4.0% and 4.625%, respectively, after currency swaps. The firm has completed $707 million of its $950 million share buyback programme, reducing the share count by 3.1%. Management remains confident in achieving consensus expectations for full-year adjusted EPS growth at the top end of its 12-15% target range. InterContinental Hotels Group PLC operates as a global hospitality company managing over 7,100 hotels and one million rooms across more than 100 countries.