May 2, 2014, 5:11 AM
- InterContinental Hotels' (IHG) Q1 global revenue per available room (RevPAR) rose 6%, lifted by an increase of 6.6% in North America.
- To pay special dividend of $750M following asset sales worth $394M in Q1. InterContinental is considering selling more hotels amid strong global demand for prime hotels.
- Shares +9.8% premarket. (PR)
Feb. 18, 2014, 3:40 AM
- InterContinental Hotels Group's (IHG) 2013 pretax profit increased to $600M from $547M a year earlier, helped by robust demand in the U.S. and better conditions in Europe.
- Revenue rose 4% to $1.9B.
- Net profit from continuing operations dropped to $372M from $537 in 2012, when earnings were lifted by an exceptional item.
- Comparable revenue per available room grew 3.8%, with the strongest growth in Asia and the Americas.
- InterContinental raised its full-year dividend to $0.70 from $0.64.
- "Looking into 2014, although economic conditions in some markets remain uncertain, forward bookings data is encouraging and we are confident that we will deliver another year of growth," said CEO Richard Solomons. (PR)
- InterContinental also announced the sale of the 383-room InterContinental San Francisco Mark Hopkins to a joint venture between affiliates of Woodridge Capital affiliates and Oaktree Capital Management for $120M. InterContinental will continue to manage the hotel.
- The deal follows the sale of InterContinental London Park Lane and an 80% stake in the InterContinental New York Barclay.
- Shares are -3.2% in London. (PR)
Feb. 19, 2013, 3:22 AMInterContinental Hotels Group (IHG): 2012 net profit +18% to $544M, revenue +4% to $1.84B and operating profit +10% to $614M, topping consensus of $605M. Global constant-currency revenue per available room +5.2%, +6.3% in U.S. and +5.4% in Greater China. Recommends full-year dividend of $0.64/share, +16%. To push ahead with sale of New York Barclay and InterContinental Park Lane hotels, which are valued at a combined $737M. (PR I, II) | Feb. 19, 2013, 3:22 AM | Comment!
Aug. 7, 2012, 2:55 AMInterContinental Hotels Group (IHG): Q2 net profit +39% to $121M, revenue +3.3% to $469M. Boosted by robust demand in the U.S. - where occupancy is high across the sector - as well as new hotels in China and India. Revenue per available room +6.1%. To pay $500M in a special dividend and to repurchase $500M of shares, starting in Q4. (PR) | Aug. 7, 2012, 2:55 AM | Comment!
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InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels and resorts. The Company operates its hotels under the brands InterContinental Hotels & Resorts, Hotel Indigo, Crowne Plaza Hotels & Resorts, Holiday Inn Hotels.
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