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IHG(IHG) - 2022 Q4 - Annual Report
2023-03-01 16:00
Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...
IHG(IHG) - 2022 Q4 - Earnings Call Transcript
2023-02-21 19:00
Financial Data and Key Metrics Changes - Revenue for the year reached $1.8 billion, an increase of 33% compared to 2021, while operating profit grew by 55% to $828 million [15][9] - Adjusted EPS nearly doubled to $282.3, with an effective tax rate of 27%, down 4 percentage points from the previous year [16][9] - Adjusted free cash flow was $565 million, demonstrating the company's ability to convert over 100% of adjusted earnings into cash [49] Business Line Data and Key Metrics Changes - Underlying revenue from the fee business increased by 28%, with operating profit rising by 43% [16] - The company opened 269 hotels and signed 467, leading to a 4% year-on-year increase in the pipeline, which now represents 31% of the current system size [8] - The Americas region saw RevPAR increase by 29% compared to 2021, while the EMEAA region's RevPAR was up 93% year-on-year [21][46] Market Data and Key Metrics Changes - The Americas region surpassed 2019 levels in RevPAR by 9% in Q4, while the EMEAA region also achieved a 9% increase in the same quarter [7][46] - Greater China faced challenges due to COVID restrictions, but recent data showed a strong recovery with 300 million trips made during the Chinese New Year, nearing 90% of 2019 levels [7] - The underlying fee revenue in Greater China was down 18% against the prior year, reflecting a decline of 40% compared to 2019 [25] Company Strategy and Development Direction - The company aims to leverage its asset-light, fee-based business model to drive growth and shareholder value, with a focus on expanding its brand portfolio and enhancing technology and loyalty programs [30][31] - The addition of Iberostar Beachfront Resorts is expected to significantly enhance the company's offerings in the all-inclusive segment and drive high-quality fee streams [35][60] - The company is committed to balancing growth investments with operational efficiency, as evidenced by a 6.6 percentage point improvement in group fee margin [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of international, corporate, and group travel, particularly with the reopening of China as a significant tailwind [51][52] - The company anticipates that macroeconomic uncertainties may impact corporate travel budgets and leisure spending, but believes current industry tailwinds outweigh these headwinds [28][29] - The long-term growth drivers for the industry remain strong, with expectations for U.S. industry RevPAR to be 12% ahead of 2019 levels in 2023 [54] Other Important Information - The company announced a final dividend increase of 10% and a new share buyback program of $750 million to return capital to shareholders [9][50] - Capital expenditure for the year was $161 million, with a focus on long-term health and stability of core business infrastructure [11] - The company has invested over $1 billion annually in its enterprise platform, enhancing its technology and loyalty programs [31][56] Q&A Session Summary Question: What is causing the revenue drop despite RevPAR being up? - Management indicated that the revenue shortfall is due to various factors, including the construction side and pipeline growth being slower as projects ramp up post-restrictions [45] Question: Any slowdown in U.S. RevPAR and thoughts on the outlook? - Management acknowledged some recent softness in U.S. RevPAR but remains optimistic about the overall outlook, citing strong demand and recovery trends [72][73] Question: Is the company still targeting industry-leading net unit growth? - Management confirmed the aspiration for industry-leading growth, aiming for 4% to 5% net unit growth, contingent on market conditions, particularly in China [87][89]
IHG(IHG) - 2023 Q1 - Quarterly Report
2023-02-20 16:00
SECURITIES AND EXCHANGE COMMISSION Washington DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 AND 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For 21 February 2023 InterContinental Hotels Group PLC (Registrant's name) Broadwater Park, Denham, Buckinghamshire, UB9 5HJ, United Kingdom (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark ...
IHG(IHG) - 2022 Q3 - Earnings Call Transcript
2022-10-21 14:39
InterContinental Hotels Group PLC (NYSE:IHG) Q3 2022 Earnings Conference Call October 21, 2022 4:00 AM ET Company Participants Stuart Ford - VP and Head of IR Paul Edgecliffe-Johnson - CFO Conference Call Participants Jamie Rollo - Morgan Stanley Vicki Stern - Barclays Jarrod Castle - UBS Leo Carrington - Citi Alex Brignall - Redburn Presentation Operator Good morning, and welcome to today's Third Quarter Trading Update to 30th September 2022. My name is Bailey, and I'll be your moderator for today's call. ...
IHG(IHG) - 2022 Q2 - Earnings Call Transcript
2022-08-09 18:21
InterContinental Hotels Group PLC (NYSE:IHG) Q2 2022 Earnings Conference Call August 9, 2022 4:30 AM ET Company Participants Stuart Ford - VP and Head of IR Keith Barr - CEO and Director Paul Edgecliffe-Johnson - CFO Conference Call Participants Vicki Stern - Barclays Jamie Rollo - Morgan Stanley Leo Carrington - Citi Alex Brignall - Redburn Richard Clarke - Bernstein Stuart Gordon - Berenberg Stuart Ford Welcome, everyone, from me. Just to refer to our stock exchange announcement on Page 2. It's the usual ...
IHG(IHG) - 2021 Q4 - Annual Report
2022-03-02 16:00
SECURITIES AND EXCHANGE COMMISSION Washington DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 AND 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For 03 March 2022 InterContinental Hotels Group PLC (Registrant's name) Broadwater Park, Denham, Buckinghamshire, UB9 5HJ, United Kingdom (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark whe ...
IHG(IHG) - 2021 Q4 - Annual Report
2022-03-02 16:00
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission ...
IHG(IHG) - 2021 Q4 - Earnings Call Transcript
2022-02-22 19:14
InterContinental Hotels Group PLC (NYSE:IHG) Q4 2021 Earnings Conference Call February 22, 2022 4:30 AM ET Company Participants Stuart Ford - VP & Head, IR Keith Barr - CEO Paul Edgecliffe-Johnson - CFO Conference Call Participants Bilal Aziz - UBS Jamie Rollo - Morgan Stanley Vicki Stern - Barclays Richard Clarke - AB Bernstein Jaafar Mestari - BNP Paribas Tim Barrett - Numis Ivor Jones - Peel Hunt Alex Brignall - Redburn Stuart Ford Good morning, everyone, and welcome to IHG's conference call for the 2021 ...
IHG(IHG) - 2021 Q3 - Earnings Call Presentation
2021-10-28 04:46
IHG Supplementary Information – Q3 2021 1 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------| | | | | Comparable RevPAR: as at 30 Sept 2021 ................................................................................... 2 | | | System size: hotel and room count as at 30 Sept 2021 | ......................................................... ...
IHG(IHG) - 2021 Q3 - Earnings Call Transcript
2021-10-28 04:35
InterContinental Hotels Group PLC (NYSE:IHG) Q3 2021 Earnings Conference Call October 22, 2021 4:00 AM ET | --- | |---------------------------------------------| | | | Company Participants | | Stuart Ford - VP & Head, IR | | Paul Edgecliffe-Johnson - CFO | | Conference Call Participants | | Jamie Rollo - Morgan Stanley | | Vicki Stern - Barclays | | Bilal Aziz - UBS | | | | James Ainley - Citi Alex Brignall - Redburn | Stuart Ford Thank you, Stephanie and good morning everyone and welcome from me to IHGÂ's ...