IHG - InterContinental Hotels Group PLC

NYSE - NYSE Delayed Price. Currency in USD
61.61
+0.06 (+0.10%)
At close: 4:02PM EST

61.61 0.00 (0.00%)
After hours: 4:17PM EST

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Trade prices are not sourced from all markets
Previous Close61.55
Open61.81
Bid61.61 x 800
Ask61.64 x 1200
Day's Range61.56 - 62.08
52 Week Range53.71 - 71.02
Volume93,475
Avg. Volume234,727
Market Cap11.14B
Beta (3Y Monthly)0.86
PE Ratio (TTM)26.69
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.18 (1.92%)
Ex-Dividend Date2019-08-29
1y Target EstN/A
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  • Trade Truce With China May Be Coming Too Late for These Hotels
    Bloomberg

    Trade Truce With China May Be Coming Too Late for These Hotels

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. From protests in Hong Kong to uncertainty around trade, the damage from political turmoil involving China is already baked in for some large U.S. hoteliers. And even with the initial phase of a China deal in sight, the cost may not be easy to make up for.Expedia Group, an online travel service, is the latest leisure company that cited Hong Kong as one reason for their disappointing results. Last week, Marriott International said that revenue-per-available-room, or revpar, a key hotel business metric, declined 27% in Hong Kong in the third quarter. And that came shortly after Hyatt Hotels and Hilton Worldwide each reported a bigger decline in the same measure.“Revpar is seeing a sharp slowdown from earlier this year,” said Bloomberg Intelligence analyst Brian Egger. This slump, he said, can be attributed to a combination of things, including a slowing economy in China, protests in Hong Kong, and the U.S.-China trade war.Other companies face similar headwinds. InterContinental Hotels Group said unrest in Hong Kong, along with “tougher trading conditions in the U.S. and China” hurt businesses last quarter, leading to a 0.8% decline in revpar. Uncertainty around the trade war had an impact on corporate business demand in mainland China, Mark Debenham, a spokesman at InterContinental, said in an email.And it’s not just U.S. hotels that are suffering. AccorHotels, based in France, last month tightened its 2019 forecast range, citing “uncertainties looming over Asia-Pacific.”While hotels’ Asia businesses are taking a setback, the outlook in the U.S. doesn’t look promising either. According to the U.S. Travel Association, the volume of people visiting the country will decline about 0.6% over the next six months from a year ago.With headwinds from “the macro environment possibly increasing” in the fourth quarter, Expedia shares may not recover soon after a 28% plunge Thursday, Bank of America analysts warned. Another major online travel agency, Booking Holdings, will report third-quarter results after the market closes and its shares fell as much as 8.3% ahead of the report.Political developments may set the tone for the companies, according to BI’s Egger. The comparisons could get easier for hotel operators if there’s a trade agreement and the crisis in Hong Kong finds resolution, he said. “Generally speaking, more harmonious geopolitical conditions will lend itself to more favorable travel conditions.“To contact the reporter on this story: Anisha Sircar in New York at asircar@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Lu Wang, Tatiana DarieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is InterContinental Hotels Group PLC (IHG) Going To Burn These Hedge Funds ?
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  • Hong Kong protests hit InterContinental, cognac maker Remy Cointreau's third-quarter sales as fewer tourists visit city
    South China Morning Post

    Hong Kong protests hit InterContinental, cognac maker Remy Cointreau's third-quarter sales as fewer tourists visit city

    Protests and unrest that have disrupted Hong Kong for over four months are weighing on the results of major hotel operators and spirits makers as fewer tourists are visiting the city.InterContinental Hotels Group (IHG), the operator of the Crowne Plaza and InterContinental hotels in Hong Kong, both reported this week declines in revenue per available room in their Asia-Pacific operations in the third quarter, citing in part the unrest in Hong Kong.Remy Cointreau, the maker of Remy Martin cognac and Mount Gay rum, separately said on Friday that a fall in tourism in Hong Kong cut into its sales in the company's fiscal first half ended in September. Organic sales fell 4 per cent in the period from July to September, after falling 3 per cent in the April to June quarter, the French spirits maker said.Cognac sales from its Remy Martin brands "suffered from the fall in tourism in Hong Kong and from slower than anticipated stock replenishment by retailers in the United States," Remy Cointreau said. "This performance masks continued steady demand for our cognacs and an excellent Mid-Autumn Festival in China." Hotel investors shun struggling Hong Kong for shining SingaporeThe protests began in June over the now-abandoned extradition bill have begun to weigh on retailers, restaurants and tourism-related industries as increasingly violent clashes with police have discouraged people from eating out and visiting the city.Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor said last month that she would formally withdraw the bill, but that has done little to stem the disruptions, including more radical demonstrators targeting the MTR railway stations and mainland-affiliated businesses with vandalism.As the unrest has intensified, tourism visits to Hong Kong have collapsed this summer.Visitors to Hong Kong dropped by 39 per cent in August after falling 5 per cent in July, according to the latest figures from the government. Food deliveries up as Hongkongers stay home amid protestsMainland Chinese " the largest category of tourists to Hong Kong annually " also are coming to the city less than in the past, with visits falling by 42 per cent in August to 2.78 million visitors. More than 4.8 million mainlanders visited Hong Kong in August 2018.As part of her policy address on Wednesday, Lam said the city's economy had fallen into a "technical recession" since the end of the third quarter. Lam has announced a series of measures to help small and medium-sized businesses and said the government would, when necessary, introduce other measures to help enterprises and the public tide over difficult times.S&P; Global Ratings said in a report last week that the city's hotel industry will "bear the brunt" of the effect of the unrest on the city's economy."August's occupancy rate fell to 66 per cent and could further drop," Esther Liu, a S&P; credit analyst, said in an October 8 research report. "This compares favourably with hotel occupancy rates during [the severe acute respiratory syndrome (Sars) outbreak in 2003], which dropped to below 20 per cent at the worst of the outbreak."Remy Cointreau said cognac sales of its Remy Martin brands suffered from the fall in tourism in Hong Kong. Photo: Shutterstock alt=Remy Cointreau said cognac sales of its Remy Martin brands suffered from the fall in tourism in Hong Kong. Photo: ShutterstockThe drag on retail could also be "substantial", as tourist spending has dropped and local consumption has slowed," the ratings agency said."Luxury retail has already taken a hit, with high-street rents in major protest areas dropping over 30 per cent to 40 per cent from their peak, with some landlords willing to offer short-term leases at below-market rates while waiting for longer-term tenants," Liu said.On Friday, IHG said its revenue per available room dropped 36 per cent in Hong Kong in the three months ended in September. Revenue per available room was down 2 per cent in the quarter in IHG's mainland China operations because of fewer corporate and meetings being partly offset by domestic leisure demand."Despite the weaker [revenue per available room] environment, and the challenges some of our markets are currently experiencing, we remain confident in our financial outcome for the rest of the year," Keith Barr, the IHG chief executive said.The company warned that it expected to see a US$5 million adverse effect on its 2019 full-year results from the fee income loss because of ongoing conditions in Hong Kong.On Thursday, Accor, which operates 4,900 hotels in 110 countries, said that its revenue per available room in its Asia-Pacific operations declined by 1.1 per cent in the third quarter."The implications of the trade tensions between China and the United States, along with the unrest in Hong Kong, caused market conditions to worsen in China," the company said. "The entire region, including Australia, has been affected by this economic slowdown."This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • MarketWatch

    InterContinental Hotels revenue hit by tough trading conditions

    The group--owner (TICKER:UK:IHG) of the Crowne Plaza and Holiday Inn brands--said revenue per available room, or RevPAR, for the first nine months of the year was flat on the year before.

  • Moving Average Crossover Alert: InterContinental Hotels
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  • IHG Launches Loyalty Partnership With Mr & Mrs Smith Hotels
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  • Indian owner of Marriott-operated hotels files for IPO
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