DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
View Annual Report InterContinental Hotels Group PLC PLC Group Hotels InterContinental Broadwater Park Denham, Buckinghamshire, UB9 5HR Telephone +44 (0) 1895 512 000 Fax +44 (0) 1895 512 101 Annual Report and Financial Statements 2008 Annual Report and Financial Statements Holiday Inn Hotel & Suites Oakland-Airport, California, USA ™ make a booking at www.ihg.com Great Hotels Guests Love IHG Annual Report and Financial Statements 2008 Investor information and Financial calendar 105 Highlights Financial calendar 2008 Payment of interim dividend of 6.4p per share (12.2 cents per ADR) 3 October Financial year end 31 December 2009 Preliminary announcement of annual results 17 February Final dividend of 20.2p per share (29.2 cents per ADR): Ex-dividend date 25 March Record date 27 March Record net room additions Total gross revenue‡ from † Total system room revenue Announcement of first quarter results 12 May all hotels in IHG system divided by the number Annual General Meeting 29 May up 20% at 34,757 rooms of room nights available. Final dividend of 20.2p per share (29.2 cents per ADR): Payment date 5 June ‡ Total room revenue from Announcement of interim results 11 August up 7% to $19.1bn franchised hotels and total Interim dividend: Payment date October Total hotels open under hotel revenue from managed, owned and leased hotels (not Announcement of third quarter results 10 November IHG brands Continuing revenue revenue attributable to IHG, Financial year end 31 December as it is derived mainly from up 6% to 4,186 hotels up 5% to $1,854mº hotels owned by third parties). 2010 * Operating profit before Preliminary announcement of annual results February exceptional items. Signings Continuing operating profit* º Includes the benefit of four significant liquidated damages receipts totalling $33m. of 98,886 rooms, to $535mº up 13% (No such individually Registered office Registrar ADR depositary Designed and produced 693 hotels significant receipts in 2007). Broadwater Park Equiniti JPMorgan Chase & Co by Likemind § The Group’s reporting currency Denham Aspect House PO Box 64504 www.likemindgroup.com taking development pipeline Adjusted continuing earnings changed from sterling to Buckinghamshire Spencer Road St. Paul per share US dollars in 2008. Dividends Printed by UB9 5HR Lancing MN 55164-0504 to 245,085 rooms, are now determined in Royle Print 1,775 hotels to 117.8¢ US dollars and converted Telephone +44 (0) 1895 512 000 West Sussex USA up 26% into sterling immediately BN99 6DA Fax +44 (0) 1895 512 101 Telephone (800) 990 1135 before announcement. Telephone 0871 384 2132*† (US callers – toll free) This Report is printed The sterling final dividend www.ihg.com on 9lives 80 Silk which Revenue per available room† Final dividend maintained (UK callers) +1 651 453 2128 equivalent is 20.2p per share. For general information about is made up of 60% FSC +44 121 415 7034 (non-US callers) § the Group’s business please post-consumer recycled (non-UK callers) up 0.9% at 29.2¢ contact the Corporate Affairs Email: fibre, 20% pre-consumer department at the above www.shareview.co.uk [email protected] recycled fibre and 20% address. For all other enquiries www.adr.com FSC virgin fibre from *For those with hearing difficulties please contact the Company a text phone is available on Stockbrokers FSC managed forests. Secretariat at the above 0871 384 2255† for UK callers Our printer is also FSC address or email with compatible equipment. JPMorgan Cazenove Limited and Carbon Neutral † [email protected] Telephone calls to these numbers Bank of America Merrill Lynch are currently charged at 8p per accredited. minute if using a BT landline. Other telephone service providers Auditors may charge different rates. Ernst & Young LLP Investment bankers Citi JPMorgan Cazenove Limited Bank of America Merrill Lynch Caught on camera Front cover photography: USEFUL INFORMATION Solicitors This year we asked our employees to Left: Photo by Centre: Photo by Right: Launch of the take their own pictures and capture Iñaki Armada, taken Amy Valentine, taken ANA Crowne Plaza Linklaters LLP what Great Hotels Guests Love at Holiday Inn Express at Holiday Inn Express Sleep Advantage Getafe, Madrid, Spain Salt Lake City, Utah, USA programme in means to them. Our front cover “The beds are so “The hands forming a Osaka, Japan For further investor features some of these. comfortable that heart around the hotel information visit some days you just sign represent the people don’t want to get out.” that make Holiday Inn www.ihg.com/investors Express a great hotel guests love.” 1 OVERVIEW OVERVIEW 1 OVERVIEW Welcome to IHG 2 Chairman’s statement 3 Chief Executive’s review 4 The IHG brands BUSINESS REVIEW BUSINESS BUSINESS REVIEW BUSINESS Great Hotels Guests Love is a guide 5 BUSINESS REVIEW to our actions and our way of doing 6 Business overview business. It puts our guests at the 8 Strategy heart of everything we do. 10 Group performance 12 Regional performance 2008 was a challenging but good year 18 Other financial information for IHG. This Report presents a full 20 Our people review of our business endeavours 23 Corporate responsibility 25 Managing risk over the last year and our approach THEIR RESPONSIBILITIES AND MANAGEMENT SENIOR THE BOARD, 29 THE BOARD, SENIOR MANAGEMENT to the future. AND THEIR RESPONSIBILITIES 30 The Board of Directors 31 Other members of the Executive Committee 32 Directors’ report 35 Corporate governance 39 Audit Committee report 40 Remuneration report STATEMENTS GROUP FINANCIAL STATEMENTS GROUP FINANCIAL 49 GROUP FINANCIAL STATEMENTS 50 Statements of Directors’ responsibilities 51 Independent auditor’s report to the members 52 Group income statement 53 Group statement of recognised income and expense 54 Group cash flow statement 55 Group balance sheet 56 Accounting policies 61 Notes to the Group financial statements FINANCIAL STATEMENTS COMPANY PARENT FINANCIAL STATEMENTS COMPANY PARENT 95 PARENT COMPANY FINANCIAL STATEMENTS 96 Parent company balance sheet 97 Notes to the parent company financial statements 99 Statement of Directors’ responsibilities 100 Independent auditor’s report to the members USEFUL INFORMATION USEFUL INFORMATION 101 USEFUL INFORMATION 102 Glossary 103 Shareholder profiles and Forward-looking statements 104 Investor information 105 Financial calendar and Contacts 2IHGAnnual Report and Financial Statements 2008 Chairman’s statement Dear shareholder “2008 was a good PERFORMANCE year for IHG. Our continuing revenue increased 5 per cent to $1.9 billion, with continuing operating profit before exceptional items of $535 million, up 13 per cent. Adjusted continuing We grew both earnings per share increased 26 per cent from 93.8 cents to 117.8 cents. We had a sales and profits,* $132 million exceptional charge in the year. This consisted of $35 million in relation outperforming the to the Holiday Inn relaunch; $19 million of cost savings-related severance charges; industry in all our $96 million of non-cash asset impairments, reflecting the poorer trading environment expected in 2009; and other items including gains on asset sales, which netted to an major markets, $18 million credit. and we have The Board is recommending that the final dividend for 2008 is maintained at 29.2 cents been preparing per share, taking the full-year dividend to 41.4 cents per share, up 2 per cent on 2007. the business This converts to a sterling full-year dividend of 26.6 pence, up 29 per cent over 2007. for a tougher REPORTING CURRENCY environment We changed the reporting currency of our Group accounts from sterling to US dollars in 2009.” with our 2008 half-year results. This means we can reflect better the Group’s profile of revenues and operating profits which are largely US dollar-based. Dividends are now determined in US dollars and converted into sterling immediately before announcement. BOARD AND EXECUTIVE COMMITTEE Stevan Porter 1954–2008 We were all deeply saddened by the loss of Steve Porter, a Board member and President of the Americas, who passed away in August 2008 after a short illness. Under Steve’s inspired leadership the Americas region has been established as a dominant force. He is greatly missed. We must thank Richard Solomons, Finance Director, for taking on the additional role of leading the Americas region when Steve became seriously ill in July. Richard did an outstanding job, ensuring a smooth transition to Jim Abrahamson, who was appointed as our new President of the Americas in January this year. Jim joined IHG from Global Hyatt Corporation, where he was Head of Development, The Americas. Two of our Non-Executive Directors, Sir David Prosser and Robert Larson, retired from the Board in May and December 2008, respectively. I thank them for their excellent service and contribution. George Turner became Company Secretary in January 2009, taking over from Richard Winter who retires in April 2009. I thank Richard for his service over the past 15 years and wish him well for the future. FINANCIAL POSITION AND SHAREHOLDER RETURNS We continue with our prudent approach to managing our balance sheet. We successfully refinanced our debt facilities in May 2008, and have lowered our overall net debt position by $400 million to $1.3 billion. During the year, we continued with our existing share buyback programme, taking the total funds returned since March 2004 to more than £3.5 billion. We have deferred the remaining £30 million of the buyback programme in order to preserve cash and maintain the strength of our balance sheet. OUTLOOK Our solid performance in 2008 can be attributed to the exceptional efforts of all our people. Trading will undoubtedly be tough in 2009, but our strong balance sheet, resilient business model, great brands and excellent management team, led by Andy Cosslett, give me continued confidence in the future for the Group.
Load more

Recommended publications
  • Quarterly Newsletter – Q2 2014
    30 Warwick Street London W1B 5NH www.jll.com/hospitality EMEA Quarterly Newsletter – Q2 2014 Industry Trends • According to the World Travel & Tourism Council (WTTC), demand for international tourism remained strong in the first four months of 2014. International tourism arrivals grew 5%, the same rate as full year 2013. Prospects for the current peak tourism season remain very positive with over 450 million tourists expected to travel abroad in the May-August 2014 period. • Destinations worldwide received 317 million international overnight visitors between January and April 2014, 14 million more than in the same period of 2013. This 5% growth consolidates the strong increase registered for 2013 and is well above the long-term trend projected by the UNWTO for the period of 2010-2020 (3.8%). • The strongest growth was seen in Asia and the Pacific and the Americas (both up 6%), followed closely by Europe and Africa (up 5%). By sub-region, Northern Europe, South and Mediterranean Europe, North Africa and South Asia (all up 8%) were the star performers. • In terms of tourism expenditure, growth continues to be strong from emerging markets, in particular China, the Russian Federation, Saudi Arabia and India. Furthermore, demand from advanced economies is strengthening as the global economic situation gradually improves, with encouraging growth posted for Italy, Australia, the Republic of Korea, the Netherlands, Norway and Sweden. • According to the UNWTO confidence index, prospects remain very positive for the period May- August 2014. Confidence has picked up, particularly among the private sector, and improved further in Europe, the Americas, Asia and the Pacific and the Middle East.
    [Show full text]
  • Intercontinental Hotels Group Plc /New
    SECURITIES AND EXCHANGE COMMISSION FORM 20-F Annual and transition report of foreign private issuers pursuant to sections 13 or 15(d) Filing Date: 2008-03-28 | Period of Report: 2007-12-31 SEC Accession No. 0001156973-08-000368 (HTML Version on secdatabase.com) FILER INTERCONTINENTAL HOTELS GROUP PLC /NEW/ Mailing Address Business Address 67 ALMA ROAD 67 ALMA ROAD CIK:858446| IRS No.: 250420260 | State of Incorp.:DE | Fiscal Year End: 0930 WINDSOR WINDSOR Type: 20-F | Act: 34 | File No.: 001-10409 | Film No.: 08717082 BERKSHIRE X0 SL4 3HD BERKSHIRE X0 SL4 3HD SIC: 7011 Hotels & motels 4045513500 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2007 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-10409 InterContinental Hotels Group PLC (Exact name of registrant as specified in its charter) England and Wales (Jurisdiction of incorporation or organization) 67 Alma Road, Windsor, Berkshire SL4 3HD (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares New York Stock Exchange Ordinary Shares of 1329/47 pence each New York Stock Exchange* * Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the Securities and Exchange Commission.
    [Show full text]
  • Shareholder Activism from a Complexity Theory Lens
    Corporate Boards at the Edge of Chaos: Shareholder Activism from a Complexity Theory Lens Thomas Kyritsis A thesis submitted in partial fulfilment of the requirements of the University of West London for the degree of Doctor of Philosophy June 2020 ABSTRACT The increasing influence of offensive shareholder activism driven by hedge funds has become a significant issue for corporate boards. The intervention of shareholder activists often challenges current strategies and the status quo of the corporate governance of publicly listed companies. Previous studies have utilised agency theory as a lens to explore and explain corporate governance issues. However, these studies have been unable to capture the complexity and the dynamics of Board interactions and provide a comprehensive view of the impact of shareholder activism. This thesis adopts complexity theory as an exploratory framework that views a Board as a complex co-evolving system and examines holistically its multiple interactions with shareholder activists and other stakeholders that together create the company’s social ecosystem. A multi-case study approach was chosen with three international hotel companies selected for analysis. The latter had all undergone one or more attacks from shareholder activists over the same period. Online documentary information was collected and used to construct three case studies. Template analysis was chosen as a tool to analyse the selected cases. A template framework was developed based on complexity concepts, principles and language to evaluate the impact of shareholder activism. The findings reveal that offensive shareholder activism influences the decision-making processes of the Boards of Directors. Macro-environmental conditions, a company’s vulnerabilities, shareholder activists’ attacks, Boards defence mechanisms and changes in a target company emerged from the analysis of the three cases.
    [Show full text]
  • Global Organizations for Global Companies
    Copyright © Best Practice Institute, Inc. Do not share or distribute without prior written or verbal consent of Best Practice Institute, Inc. Global Operations for InterContinental Hotels Group – A Global Lodging Company TABLE OF CONTENTS TABLE OF CONTENTS .................................................................................................... 1 CASE SUMMARY ............................................................................................................. 1 COMPANY BACKGROUNG ........................................................................................... 2 A NEW OPERATING STRATEGY .................................................................................. 2 SHARED MINDSET ABOUT WHAT IS IMPORTANT ................................................. 3 CLARIFY STRATEGY...................................................................................................... 3 ALIGN INVESTMENT TO STRATEGY ......................................................................... 4 LOCATE WORK TO ASSURE VALUE .......................................................................... 5 Location of Shared Services Centers .............................................................................. 6 OUTSOURCING CONCERNS ......................................................................................... 6 CAPABILITY-DRIVEN LOCATION OF WORK............................................................ 7 Final Choices .................................................................................................................
    [Show full text]
  • Intercontinental Hotels Group
    ACE BOWNE OF TORONTO 04/02/2009 06:04 NO MARKS NEXT PCN: 002.00.00.00 -- Page is valid, no graphics BOT U06009 001.00.00.00 16 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) n 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, 2008 or n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-10409 InterContinental Hotels Group PLC (Exact name of registrant as specified in its charter) England and Wales (Jurisdiction of incorporation or organization) Broadwater Park, Denham, Buckinghamshire UB9 5HR (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares New York Stock Exchange 29 Ordinary Shares of 13 ⁄47 pence each New York Stock Exchange* * Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the Securities and Exchange Commission. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d)of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual
    [Show full text]
  • View Annual Report
    opportunity, strategy, investment, targets, performance, progress, growth, profits, returns, dividends, results… great hotels guests love™ IHG Annual Report and Financial Statements 2007 Contents 1 Welcome to IHG 2 Highlights 1 Overview 3 Message from the Chairman and Chief Executive 4 The IHG brands 6 Business overview 9 People 11 Corporate responsibility 5 Business review 12 Group performance 14 Regional performance 20 Other financial information 22 Risk management 26 The Board of Directors 25 The Board, 27 Other members of the Executive Committee 28 Directors’ report senior management 30 Corporate governance and their responsibilities 35 Audit Committee report 36 Remuneration report 46 Statement of Directors’ responsibilities 47 Independent auditor’s report to the members 48 Group income statement 49 Group statement of recognised income and expense 45 Group financial statements 50 Group cash flow statement 51 Group balance sheet 52 Corporate information and accounting policies 57 Notes to the Group financial statements 90 Statement of Directors’ responsibilities 89 Parent company 91 Independent auditor’s report to the members financial statements 92 Parent company balance sheet 93 Notes to the parent company financial statements 96 Glossary 97 Shareholder profiles 98 Investor information 95 Useful information 99 Financial calendar 100 Contacts 101 Forward-looking statements Welcome to IHG OVERVIEW In 2007 our operating profits grew, reflecting REVIEW BUSINESS a record increase in our room and hotel count and a healthy increase in our revenues per room night. We are one of the world’s largest hotel companies and are focused on quality growth through managing and franchising our seven distinctive brands. THEIR RESPONSIBILITIES AND MANAGEMENT SENIOR THE BOARD, Our core purpose is to create Great Hotels Guests Love.
    [Show full text]
  • Annual Report and Financial Statements 2006
    Annual report and financial statements 2006 Seeing the world through your eyes... Highlights Continuing operating profit* up 16% from £173m to £201m. Operating profit of £258m, including other operating income and expenses of £27m. 9.8% growth in RevPAR+. Total gross revenue† from all hotels in IHG system up 9% to £8.3bn. Franchised operating profit up 10% to £235m. Managed operating profit up 27% to £85m. Adjusted continuing earnings per share up 67% from 22.5p to 37.5p. Basic earnings per share of 104.1p. Further £850m return of funds announced, taking total funds returns to £3.6bn since March 2004. Final dividend up 24% to 13.3p. Total 2006 dividend§ up 20% to 18.4p. Room count up by 18,713 rooms to 556,246. Expect to exceed 50,000 to 60,000 net rooms growth target. Signings up 47% to 102,774 rooms. Development pipeline up by 49,479 rooms to 157,991. * Operating profit before other operating income and expenses. + Room revenue divided by the number of room nights available. † Total room revenue from franchised hotels and total hotel revenue from managed, owned and leased hotels (not revenue attributable to IHG, as it is derived mainly from hotels owned by third parties). § Excludes special interim dividend paid in June 2006. Front cover photo: view from InterContinental London Park Lane IHG Annual report and financial statements 2006 1 Inside… 2 CHAIRMAN’S STATEMENT 3 CHIEF EXECUTIVE’S REVIEW 5 OPERATING AND FINANCIAL REVIEW 6 Business overview 8 Significant developments 9 Group performance 11 The Americas 13 Europe, Middle East and
    [Show full text]
  • Hotel Snapshot H2 2014 2015: Mind the Gaps
    Accelerating success. Hotel Snapshot H2 2014 2015: Mind the gaps 2014 | net CHANGE IN hotel RooM SUpplY United Kingdom Northern Ireland Wales was a positive year for the UK hotel industry. 2014 Strong momentum in the first half of the year Scotland continued into the second half and if anything picked up pace. Regional England After several recessionary years and generally a sombre mood, it was very welcome to feel more widespread positivity return to London the market and tangibly witness increased investor confidence, albeit this perhaps soon bordered exuberance in some cases. (1.0%) 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% At a national level, a number of key measures give context to a year of impressive progress in 2014. Room supply growth from Source: AM:PM new hotel openings was more than 40% up on prior year; room supply loss from hotel closures was down over 20%; strong this May’s General Election, the year ahead looks set to be between winners and losers in the sector. For the latter Revenue Available Per Room (RevPAR) growth was evident another good one. This platform provides hoteliers with as there is genuine concern some may miss the party of across all major markets and profitability largely followed; hotel reasonable cause as possible to be optimistic about medium this economic cycle whilst for the former, it seems quite transactions increased by over 50%, underpinned by significant term prospects, which in turn should encourage much needed incredible that we’re already regularly sounding a note regional activity.
    [Show full text]
  • Intercontinental Hotels Group
    ACE BOWNE OF TORONTO 03/18/2008 03:05 NO MARKS NEXT PCN: 002.00.00.00 -- Page is valid, no graphics BOT U54625 001.00.00.00 20 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) n 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, 2007 or n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-10409 InterContinental Hotels Group PLC (Exact name of registrant as specified in its charter) England and Wales (Jurisdiction of incorporation or organization) 67 Alma Road, Windsor, Berkshire SL4 3HD (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares New York Stock Exchange 29 Ordinary Shares of 13 ⁄47 pence each New York Stock Exchange* * Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the Securities and Exchange Commission. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d)of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:
    [Show full text]
  • Hotel Snapshot EDITION 4 | H1 2014 2014
    Accelerating success. Hotel Snapshot EDITION 4 | H1 2014 2014. Full steam ahead? RooM SUpplY CHANGes (H1 2014) 3,000 2,500 New hotel openings Hotel closures 2,000 he first half of 2014 seemed to vanish in the blink 1,500 Tof an eye. The sheer scale and pace of development 1,000 and transactional activity throughout the sector has been almost relentless at times. I certainly don’t recall 500 a time like it. 0 We’re technically just into what most probably regard as the London Regional England Scotland Wales Northern Ireland Ireland first proper year of widespread market recovery. However, compared with previous economic cycles, the latest recovery has the distinct feel of having by-passed the initial phase Source: AM:PM and accelerated straight into a mid-cycle phase where we’re On a brighter note, the outlook for the majority of hotels Change in the supply structure of the hotel sector has always already starting to caution about over-heating in certain areas. definitely appears rosier than it has for several years, been evident. It presents opportunities for some, and threats So, it’s full steam ahead? Well, not quite. For some, improving but that shouldn’t lead to complacency. It’s always vital for others. There are many hotel groups that have been market conditions haven’t been able to prevent hotel closures to distinguish between the impact of cyclical economic consigned to history that were once the luminaries of their that have resulted in more than 2,000 rooms being taken out of change over relatively short time periods and amongst day – Gordon Hotels (sadly, no relation!), Spiers & Pond, British supply so far in 2014, which has offset solid new supply growth other factors, structural market change over much Transport Hotels, and Trusthouse Forte serve as reminders that of around 5,000 rooms in the same period (see graph above).
    [Show full text]
  • IHG") Will Today Hold a Seminar for Analysts and Investors Entitled “Building Profitable Scale”
    23 November, 2010 Presentation to Investors and Analysts InterContinental Hotels Group ("IHG") will today hold a seminar for analysts and investors entitled “Building Profitable Scale”. Andy Cosslett, Chief Executive, will outline the favourable environment and growth opportunities for branded scale players in the hotel industry and describe IHG’s approach to development in different markets around the world. He will be joined by Richard Solomons - Chief Financial Officer and Head of Commercial Development; Keith Barr - Managing Director Greater China; Jerry Huang - Senior Vice President Operations Greater China and Kirk Kinsell -President EMEA, who will give more detailed presentations on IHG’s leading position and considerable growth opportunities in India, China and the Middle East. As part of the presentations the following forecasts for 2010 performance will be provided: In Greater China for the full year 2010 for the managed and franchised business, after an allocation of Asia Pacific regional overheads, IHG is forecasting revenues of $61m and operating profit of $21m. In the Middle East for the full year 2010 for the managed and franchised business only, IHG is forecasting revenues of $58m and operating profit of $44m. Commenting on this announcement, Andy Cosslett, CEO of IHG said: “Although China, the Middle East and India are very different markets in terms of their maturity, we will demonstrate today that they represent significant growth opportunities for IHG. Our leading positions, the strength of our brands and our long term relationships with local partners in each of these territories give us a significant competitive advantage.” The presentation will commence at 2pm UK time today.
    [Show full text]
  • Un 1000 Hotel Pour Relancer La Marque Holiday Inn
    ème UN 1000 HOTEL POUR RELANCER LA MARQUE HOLIDAY INN L’ouverture du nouveau Holiday Inn Express à Times Square, New York, fait partie du plus grand projet de renaissance d’une marque dans l’histoire de l’hôtellerie IHG (InterContinental Hotels Group), le plus grand groupe hôtelier au monde, annonce l’ouverture de son 1000 ème Holiday Inn « nouvelle vague » - l’ Holiday Inn Express New York City Times Square. Relooker la marque a coûté 1 milliard de dollars, le plus gros investissement du genre dans l’histoire de l’hôtellerie, avec 3200 hôtels dans le monde en cours de normalisation – améliorant sans cesse la qualité tout en conservant les valeurs Holiday Inn et Holiday Inn Express de Boston à Pékin. En plus des 3 200 hôtels déjà ouverts, quelque 1 050 autres sont actuellement en négociation et prévus d’ouvrir sous la nouvelle marque au cours des 3 prochaines années. Le programme du renouvellement de la marque coïncide avec de nouvelles ouvertures et l’abandon des hôtels ne correspondant pas aux nouvelles normes de qualité, rajeunissant ainsi le parc Holiday Inn dans les prochaines années. Andy Cosslett, CEO de IHG a déclaré : « L’ouverture de notre 1000 ème hôtel « nouvelle génération » est l’une des dernières étapes de trois années d’efforts, ce qui démontre la force de ce programme. Malgré un contexte économique morose, nous avons relooké en moyenne quatre hôtels par jour au cours des 6 derniers mois et sommes dans l’obligation de terminer le renouvellement global pour la fin de l’année 2010. Les hôtels relookés bénéficient de la satisfaction de nos clients et le revenu par chambre disponible (RevPAR) est supérieur à 5%.
    [Show full text]