InterContinental Hotels Group(IHG),marketed asIHG Hotels & Resorts,is a Britishmultinationalhospitality companyheadquartered inWindsor, Berkshire,England.[4]It is listed on theLondon Stock Exchangeand theNew York Stock Exchange.[5]It is also a constituent of theFTSE 100 Index.
 | |
| IHG Hotels & Resorts | |
| Company type | Public |
| ISIN | GB00BHJYC057 |
| Industry | Hospitality |
| Founded | 15 April 2003 |
| Headquarters | Windsor,England, UK |
Number of locations | 6,028 hotels 884,820 rooms[1](2022) |
Area served | Global |
Key people | Deanna Oppenheimer (Chair) Elie Maalouf (CEO) |
| Products | Hotelsandresorts |
| Brands | seeBrands |
| Revenue |  US$4.624 billion (2023)[2] |
| US$1.066 billion (2023)[2] | |
| US$750 million (2023)[2] | |
Number of employees | 345,000 (2024)[3] |
| Website | www |
History
editBass Hotels
editThe origins of the business may be traced to 1777 whenWilliam Bassestablished theBass BreweryinBurton-upon-Trent.[6]The company later changed its name to Bass Charrington. Its first entry into the lodging sector came with acquisition of tied public houses. In 1969, it launched theCrest Hotelschain.[7]
In 1988, after the British government limited the number of pubs that brewers could directly own, Bass further invested in the expansion of its hotel business with the purchase ofHoliday InnInternational from shareholders.[6]Bass sold off the bulk of Crest Hotels in 1990, and the few remaining properties were absorbed into the Holiday Inn chain.[8][9]Bass expanded its hotel business again in 1998, acquiring the luxuryInter-Continentalhotel chain, which had been founded byJuan Trippe,from theSaison Group.[10]The hotel division was then renamed from Holiday Hospitality to Bass Hotels & Resorts, to reflect its expansion beyond the Holiday Inn brand.[11]
Bass changed its name toSix Continentsin 2001, after having sold its brewing assets and the Bass name, and Bass Hotels & Resorts became Six Continents Hotels.[12]
InterContinental Hotels Group
edit
Six Continents announced in October 2002 that it would split itself in two, with one company holding its pubs and restaurants, and the other holding its hotel and soft drink businesses.[13]The split was completed on 15 April 2003, establishing InterContinental Hotels Group as an independent company, alongside the pub company,Mitchells & Butlers.[14]IHG's hotel portfolio at the time comprised 3,325 properties, primarily under the Holiday Inn,Crowne Plaza,and InterContinental brands.[15]Of those, 190 were owned or leased by the company, with the remainder under management or franchise agreements.[16]
After the separation from Six Continents, IHG began an asset disposal program, selling off hotels to move towards an "asset-light" model focused on franchising and management.[17]From 2003 to 2015, the company sold around 200 hotels for a total of almost $8 billion,[18][19]leaving only 7 owned or leased properties in the portfolio.[20]
In 2004, IHG acquired theCandlewood Suitesbrand, a midscaleextended stay hotelbrand with 108 franchised properties in the United States, for $15 million.[21][22]IHG divested its soft drink holdings in 2005, selling its 48 percent stake inBritvicfor £371 million through aninitial public offering.[23][24]
In 2015, IHG acquiredKimpton Hotels,aboutique hotelbrand with 62 managed properties, for $430 million.[25][26]In February 2021, IHG announced an annual loss of $153 million caused by restrictions related to the COVID-19 pandemic. However, the company expected that theHoliday Inn Expressbrand would help in the recovery process.[27]
In 2024, IHG signed an expansive cooperation and franchise agreement with German hotel operator Novum Hospitality, rebranding and partially refurbishing all of their current properties (namelythe niu,Yggotel,Novum Hotels,Select Hotelsandacora living the city) into IHG brandsHoliday Inn,Holiday Inn Express,Candlewood Suitesand Garner in the upcoming years. This will increase IHG's portfolio in Germany by over 100 hotels.[28]
Corporate Affairs
editHeadquarters
editThe company's worldwide headquarters and European offices are located inWindsor, Berkshire,England.[29][30]IHG maintains regional offices inAtlanta,SingaporeandShanghai.[29]
List of CEOs
edit- Richard North (2003–2005)[31]
- Andy Cosslett(2005–2011)[32]
- Richard Solomons(2011–2017)[32]
- Keith Barr(2017–2023)[33]
- Elie W. Maalouf (since July 2023)[33]
Criticism
editPrice fi xing
editIn July 2012, theOffice of Fair Tradingalleged that IHG had broken competition law by preventing online travel agents from discounting the price of room-only hotel accommodations. In February 2014, IHG agreed to end the practice of price fi xing.[34]
VAT rules
editIn May 2012, the UKAdvertising Standards Authority(ASA) warned IHG that it must includeVATin its advertised prices. In August 2012, a report byWhich?magazine showed that IHG was continuing to violate VAT rules.[35]
Living wage
editIn November 2017, London mayorSadiq Khanaccused IHG of failing to fulfil a commitment to pay aliving wage.[36]
Brands
edit
As of 2024, IHG has 19 brands marketed under five segments:[37][38]
| Brand | # properties (as of 2024) |
|---|---|
| Luxury and Lifestyle | |
| Hotel Indigo | 158 |
| InterContinental Hotels & Resorts | 224 |
| Kimpton Hotels & Restaurants | 75 |
| Regent Hotels & Resorts | 10 |
| Six Senses | 27 |
| Vignette Collection | 12 |
| Premium | |
| Crowne Plaza Hotels & Resorts | 407 |
| Even Hotels | 31 |
| Hualuxe Hotels & Resorts | 20 |
| Voco | 71 |
| Essentials | |
| Avid Hotels | 73 |
| Holiday Inn | 1,206 |
| Garner Hotels | 4 |
| Holiday Inn Express | 3,190 |
| Suites | |
| Atwell Suites | 3 |
| Candlewood Suites | 384 |
| Holiday Inn Club Vacations | 28 |
| Staybridge Suites | 330 |
| Exclusive Partners | |
| IberostarBeachfront Resorts[39] | 50 |
In 2012, IHG claimed more than 5,400 hotels, with 4,433 operated under franchise agreements, 907 managed by the company but separately owned and eight directly owned.[40]As of 31 March 2019, IHG has 842,759 guest rooms and 5,656 hotels across nearly 100 countries.[41]
IHG Hotels & Resorts has a loyalty program. IHG One Rewards average a value of 0.68 ¢ per point.[42]
References
edit- ^"IHG global presence".InterContinental Hotels Group PLC.Retrieved24 May2022.
- ^abc"Annual Results 2023"(PDF).InterContinental Hotels Group PLC.Retrieved20 February2024.
- ^"About us".IHG Hotels & Resorts.Retrieved11 February2024.
- ^"InterContinental Hotels Group PLC ADS".The Wall Street Journal.Retrieved1 September2014.
- ^"InterContinental Hotels Group PLC (IHG) Stock Price, News, Quote & History - Yahoo Finance".finance.yahoo.Retrieved9 February2023.
- ^ab"Our History".Intercontinental Hotels Group. ihgplc.Retrieved27 January2018.
- ^"Bass / Six Continents".Ad Brands. Archived fromthe originalon 5 August 2018.Retrieved5 August2018.
- ^"Bass hotels sold to Forte group".Burton Mail.16 May 1990 – via Newspapers.
- ^"Forte beds Crest".Derby Evening Telegraph.16 May 1990 – via Newspapers.
- ^"Bass Acquires Inter-Continental Hotels / Feb 1998".hotel-online.Archived fromthe originalon 26 January 2023.Retrieved27 January2023.
- ^Matt Kempner (5 May 1998)."A new name for Holiday Hospitality".The Atlanta Constitution– via Newspapers.
- ^"Bass Hotels & Resorts becomes Six Continents Hotels".HNR Hotel News.30 July 2001.Retrieved19 February2023.
- ^Julia Finch (1 October 2002)."Six Continents to split into two".The Guardian.London.Retrieved18 February2023.
- ^Richard Wray (15 April 2003)."Six Continents split loses glitz".The Guardian.London.Retrieved18 February2023.
- ^Form 20-F: Annual Report(Report). InterContinental Hotels Group. 18 February 2003. p. 30 – via EDGAR.
- ^Form 20-F: Annual Report(Report). InterContinental Hotels Group. 18 February 2003. p. 29 – via EDGAR.
- ^Annual Report and Financial Statements 2003(Report). InterContinental Hotels Group. p. 4.Retrieved18 February2023– via Companies House.
- ^"The hotel asset light model".Edison Group. 30 May 2019.Retrieved18 February2023.
- ^"InterContinental Hotels Group - $1.5bn special dividend".Hargreaves Lansdown. 23 February 2016.Retrieved18 February2023.
- ^Form 20-F: Annual Report(Report). InterContinental Hotels Group. 3 March 2016. p. 34 – via EDGAR.
- ^Dan Voorhis (29 October 2003)."Candlewood Hotel Co. sold".The Wichita Eagle– via Newspapers.(Part 2 of article)
- ^Annual Report(Report). InterContinental Hotels Group. 4 June 2004. p. 4 – via Companies House.
- ^"Corbett joins Britvic for £800m flotation".The Independent.London. 14 November 2005 – via Newspapers.
- ^Form 6-K: Report of Foreign Private Issuer(Report). InterContinental Hotels Group. 23 December 2005 – via EDGAR.
- ^"IHG agrees $430 million acquisition of boutique Kimpton Hotels".Reuters.16 December 2014.Retrieved19 February2023.
- ^"Completion of Acquisition"(Press release). InterContinental Hotels Group. 16 January 2015.Retrieved19 February2023.
- ^"Holiday-Inn owner IHG posts annual loss on COVID-19 slowdown".Arab News.23 February 2021.Retrieved23 February2021.
- ^"IHG signs agreement to double presence in Germany".Business Traveller.16 April 2024.Retrieved20 April2024.
- ^ab"Regional headquarters".InterContinental Hotels Group PLC.
- ^"Denham Location Map"(PDF).InterContinental Hotels Group. Archived fromthe original(PDF)on 9 August 2014.Retrieved15 December2014.
IHG, Broadwater Park North Orbital Road, Denham, Buckinghamshire UB9 5HR
- ^"InterContinental Hotels Group PLC announces that Richard North will be stepping down as Chief Executive".
- ^ab"Andrew Cosslett to step down as Chief Executive; to be succeeded by Richard Solomons, Chief Financial Officer and Head of Commercial Development".IHG Press Release.
- ^ab"IHG hotels Boss who criticised London's declining listing appeal set to check out and return to US".Evening Standard.5 May 2023.Retrieved2 November2023.
- ^George, Sara (31 January 2014)."Investigation into the hotel online booking sector".webarchive.NationalArchives.gov.uk.Archived fromthe originalon 2 April 2014.Retrieved18 November2017.
- ^"Hotels chains 'breaching VAT rules'".The Telegraph.5 February 2016.Archivedfrom the original on 12 January 2022.Retrieved18 November2017.
- ^Inman, Phillip (10 November 2017)."Sadi
Khan: Holiday Inn owner has broken vow to pay living wage ".The Guardian.Retrieved18 November2017. - ^"IHG: Our Brands Homepage".InterContinental Hotels Group.Retrieved3 September2024.
- ^"Our Brands".InterContinental Hotels Group.Retrieved3 September2024.
- ^"Beachfront All-Inclusive, excluding Cuba".IHG Hotels & Resorts.Retrieved3 September2024.
- ^"Annual Report 2012"(PDF).IHG.Archived fromthe original(PDF)on 7 July 2017.Retrieved28 July2013.
- ^"IHG overview".InterContinental Hotels Group. Archived fromthe originalon 14 August 2016.Retrieved11 September2018.
- ^"Point and Mile Values".AwardWallet.Retrieved8 August2024.
External links
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