IHG Hotels & Resorts

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InterContinental Hotels Group plc
IHG Hotels & Resorts
Company type Public
ISIN GB00BHJYC057  OOjs UI icon edit-ltr-progressive.svg
Industry Hospitality
Founded15 April 2003;21 years ago (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 Hotels and resorts
Brandssee Brands
RevenueIncrease2.svg US$4.624 billion (2023) [2]
Increase2.svg US$1.066 billion (2023) [2]
Increase2.svg US$750 million (2023) [2]
Number of employees
345,000 (2024) [3]
Website www.ihgplc.com

InterContinental Hotels Group (IHG), marketed as IHG Hotels & Resorts, is a British multinational hospitality company headquartered in Windsor, Berkshire, England. [4] It is listed on the London Stock Exchange and the New York Stock Exchange. [5] It is also a constituent of the FTSE 100 Index.

Contents

History

Bass Hotels

The origins of the business may be traced to 1777 when William Bass established the Bass Brewery in Burton-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 the Crest Hotels chain. [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 of Holiday Inn International 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 luxury Inter-Continental hotel chain, which had been founded by Juan Trippe, from the Saison 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 to Six Continents in 2001, after having sold its brewing assets and the Bass name, and Bass Hotels & Resorts became Six Continents Hotels. [12]

InterContinental Hotels Group

IHG logo from 2017 to 2021 InterContinental Hotels Group logo 2017.svg
IHG logo from 2017 to 2021

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 the Candlewood Suites brand, a midscale extended stay hotel brand 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 in Britvic for £371 million through an initial public offering. [23] [24]

In 2015, IHG acquired Kimpton Hotels, a boutique hotel brand 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 the Holiday Inn Express brand 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 (namely the niu, Yggotel, Novum Hotels, Select Hotels and acora living the city) into IHG brands Holiday Inn, Holiday Inn Express, Candlewood Suites and Garner in the upcoming years. This will increase IHG's portfolio in Germany by over 100 hotels. [28]

Corporate Affairs

Headquarters

The company's worldwide headquarters and European offices are located in Windsor, Berkshire, England. [29] [30] IHG maintains regional offices in Atlanta, Singapore and Shanghai. [29]

List of CEOs

  1. Richard North (2003–2005) [31]
  2. Andy Cosslett (2005–2011) [32]
  3. Richard Solomons (2011–2017) [32]
  4. Keith Barr (2017–2023) [33]
  5. Elie W. Maalouf (since July 2023) [33]

Criticism

Price fixing

In July 2012, the Office of Fair Trading alleged 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 fixing. [34]

VAT rules

In May 2012, the UK Advertising Standards Authority (ASA) warned IHG that it must include VAT in its advertised prices. In August 2012, a report by Which? magazine showed that IHG was continuing to violate VAT rules. [35]

Living wage

In November 2017, London mayor Sadiq Khan accused IHG of failing to fulfil a commitment to pay a living wage. [36]

Brands

Holiday Inn & Suites in Davenport Holiday Inn and Suites - Davenport, Iowa.jpg
Holiday Inn & Suites in Davenport
Hotel Indigo in Uptown Houston Hotel Indigo CIMG8676.JPG
Hotel Indigo in Uptown Houston
InterContinental in Kyiv Intercontinental Hotel (24925987280).jpg
InterContinental in Kyiv

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
Iberostar Beachfront 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]

Related Research Articles

Holiday Inn is a chain of hotels based in Atlanta, Georgia and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson (1913–2003), who opened the first location in Memphis, Tennessee. The chain was a division of Bass Brewery from 1988-2000, Six Continents from 2000-03, and IHG Hotels & Resorts since 2003. It operates hotels under the names Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, and Holiday Inn Resorts. As of 2018, Holiday Inn has hotels at over 1,100 locations.

<span class="mw-page-title-main">Crowne Plaza</span> Hotel chain

Crowne Plaza is a British-American multinational chain of full service, upscale hotels headquartered in the United Kingdom. It caters to the business, leisure and blended travel market usually located in city centers, resorts, coastal towns or near major airports. The brand is part of IHG Hotels & Resorts family of brands, which include InterContinental Hotels & Resorts and Holiday Inn Hotels & Resorts, and operates in nearly 100 countries with more than 400 hotels and 110,000 bedrooms,

<span class="mw-page-title-main">Sheraton Hotels and Resorts</span> International hotel chain

Sheraton Hotels and Resorts is an American international hotel chain owned by Marriott International. As of June 30, 2020, Sheraton operates 446 hotels with 155,617 rooms globally, including locations in North America, Africa, Asia Pacific, Central and South America, Europe, the Middle East and the Caribbean, in addition to 84 hotels with 23,092 rooms in the pipeline.

Intercontinental is an adjective to describe something which relates to more than one continent.

<span class="mw-page-title-main">InterContinental</span> Brand of luxury hotels

InterContinental Hotels & Resorts is a British-American luxury hotel brand created in 1946 by Pan Am founder Juan Trippe. It has been part of UK-based InterContinental Hotels Group since 1998. As of January 2023, there were 208 InterContinental hotels worldwide, with 70,287 rooms.

<span class="mw-page-title-main">Holiday Inn Express</span> Hotel chain

Holiday Inn Express is an American-based mid-priced hotel chain within the IHG Hotels & Resorts family of brands. Originally founded as an "express" hotel, their focus is on offering limited services at a reasonable price. Standard amenities lean toward the convenient and practical which cater to business travelers and short-term stays. As of September 2019, there are 2,826 Holiday Inn Express hotels featuring over 292,000 rooms worldwide. The chain's concept was intended to target the "upper economy" market segment.

<span class="mw-page-title-main">Six Continents</span> Former large British-based hotel and hospitality business

Six Continents was a large British-based hotel and hospitality business which was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">Mitchells & Butlers</span> UK pub, bar and restaurant company

Mitchells & Butlers plc runs circa 1,784 managed pubs, bars and restaurants throughout the United Kingdom. The company's headquarters are in Birmingham, England. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">Candlewood Suites</span> All-suite extended-stay hotel chain run by IHG

Candlewood Suites is a hotel chain brand owned by IHG Hotels & Resorts.

Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.

Staybridge Suites is an all-suite, residential-style brand of hotels owned by IHG Hotels & Resorts. The hotels are primarily targeted toward extended-stay and corporate travelers. Over 220 Staybridge Suites hotels are in the United States, Canada, Mexico, Europe and South America.

Regent Hotels & Resorts is a British-American luxury hospitality brand, founded by hotelier Robert H. Burns in 1970. After passing through different owners since foundation, it is currently jointly owned by IHG Hotels & Resorts and Formosa International Hotels Corporation since July 2018, with hotels and resorts in Asia and Europe.

<span class="mw-page-title-main">Regent Hong Kong</span>

Regent Hong Kong is a five-star hotel located at 18 Salisbury Road, Kowloon, Hong Kong. The hotel is positioned directly on the waterfront, offering views of Victoria Harbour and is close to various tourist attractions. The hotel has 497 rooms and 129 suites, and is considered to be the flagship property of the group.

Andrew Peter Cosslett, is a British businessman and chairman of ITV, and former chairman of Rugby Football Union and Kingfisher plc.

<span class="mw-page-title-main">The Londoner Macao</span> Casino resort on the Cotai Strip, Macau

The Londoner Macao is a casino and resort on the Cotai Strip, in Macau. On August 5th, 2011, Sands China announced that the $4 billion property, long referred to as parcels five and six, would be officially named Sands Cotai Central. The first portion of the resort opened on April11th, 2012. The resort was rebranded as The Londoner Macao in 2021. The resort's redesign was completed in May 2023.

<span class="mw-page-title-main">IHG Army Hotels</span> American hotel company

IHG Army Hotels is a collection of private-sector hotels located on Army installations and Joint Bases throughout the United States. It is the result of a partnership between IHG Hotels & Resorts (IHG) and Lendlease. This partnership was formed in response to the Privatization of Army Lodging (PAL) program by the United States Army. The army's request for qualifications (RFQ) sought to fulfill specific requirements that included improving the quality of on-post lodgings throughout the U.S., Alaska, Hawaii and Puerto Rico. This RFQ sought entities with experience in the management of room inventory and hotel service, expertise in construction, and financing experience relating to the upgrades and renovations of existing on-post Army lodgings. The United States Army awarded the PAL program to Lendlease with a 50-year lease deal, and IHG, with a 25-year management agreement with options to extend. As part of the RFP agreement, these hotels provide lodging to service members of all branches of the U.S. Armed Forces, government and civilian contractors, military families, veterans, civilians and retirees. There are 76 IHG-branded hotels with about 11,600 rooms located on Army bases in the U.S., Alaska, Hawaii, and Puerto Rico.

<span class="mw-page-title-main">Ariel Hotel</span> Hotel in London

The Ariel Hotel is a circular hotel very close to London Heathrow Airport.

<span class="mw-page-title-main">Keith Barr (businessman)</span> American businessman (born 1970)

Keith Barr is an American businessman. He was the chief executive of InterContinental Hotels Group until July 2023, when he was succeeded by Elie W. Maalouf. Barr left IHG to return to the US.

ANA Hotels is a Japanese hotel chain established in 1973 by All Nippon Airways (ANA). In October 2006, ANA sold majority ownership of ANA Hotels to the InterContinental Hotels Group (IHG), which is now the primary shareholder. The managed properties of ANA Hotels are marketed under the ANA InterContinental, ANA Crowne Plaza, ANA Hotels and ANA Holiday Inn brands.

References

  1. ↑ "IHG global presence". InterContinental Hotels Group PLC. Retrieved 24 May 2022.
  2. 1 2 3 "Annual Results 2023" (PDF). InterContinental Hotels Group PLC. Retrieved 20 February 2024.
  3. ↑ "About us". IHG Hotels & Resorts. Retrieved 11 February 2024.
  4. ↑ "InterContinental Hotels Group PLC ADS". The Wall Street Journal . Retrieved 1 September 2014.
  5. ↑ "InterContinental Hotels Group PLC (IHG) Stock Price, News, Quote & History - Yahoo Finance". finance.yahoo.com. Retrieved 9 February 2023.
  6. 1 2 "Our History". Intercontinental Hotels Group. ihgplc.com. Retrieved 27 January 2018.
  7. ↑ "Bass / Six Continents". Ad Brands. Archived from the original on 5 August 2018. Retrieved 5 August 2018.
  8. ↑ "Bass hotels sold to Forte group". Burton Mail. 16 May 1990 – via Newspapers.com.
  9. ↑ "Forte beds Crest". Derby Evening Telegraph. 16 May 1990 – via Newspapers.com.
  10. ↑ "Bass Acquires Inter-Continental Hotels / Feb 1998". www.hotel-online.com. Archived from the original on 26 January 2023. Retrieved 27 January 2023.
  11. ↑ Matt Kempner (5 May 1998). "A new name for Holiday Hospitality". The Atlanta Constitution– via Newspapers.com.
  12. ↑ "Bass Hotels & Resorts becomes Six Continents Hotels". HNR Hotel News. 30 July 2001. Retrieved 19 February 2023.
  13. ↑ Julia Finch (1 October 2002). "Six Continents to split into two". The Guardian. London. Retrieved 18 February 2023.
  14. ↑ Richard Wray (15 April 2003). "Six Continents split loses glitz". The Guardian. London. Retrieved 18 February 2023.
  15. ↑ Form 20-F: Annual Report (Report). InterContinental Hotels Group. 18 February 2003. p. 30 – via EDGAR.
  16. ↑ Form 20-F: Annual Report (Report). InterContinental Hotels Group. 18 February 2003. p. 29 – via EDGAR.
  17. ↑ Annual Report and Financial Statements 2003 (Report). InterContinental Hotels Group. p. 4. Retrieved 18 February 2023– via Companies House.
  18. ↑ "The hotel asset light model". Edison Group. 30 May 2019. Retrieved 18 February 2023.
  19. ↑ "InterContinental Hotels Group - $1.5bn special dividend". Hargreaves Lansdown. 23 February 2016. Retrieved 18 February 2023.
  20. ↑ Form 20-F: Annual Report (Report). InterContinental Hotels Group. 3 March 2016. p. 34 – via EDGAR.
  21. ↑ Dan Voorhis (29 October 2003). "Candlewood Hotel Co. sold". The Wichita Eagle– via Newspapers.com. (Part 2 of article)
  22. ↑ Annual Report (Report). InterContinental Hotels Group. 4 June 2004. p. 4 – via Companies House.
  23. ↑ "Corbett joins Britvic for £800m flotation". The Independent. London. 14 November 2005 – via Newspapers.com.
  24. ↑ Form 6-K: Report of Foreign Private Issuer (Report). InterContinental Hotels Group. 23 December 2005 – via EDGAR.
  25. ↑ "IHG agrees $430 million acquisition of boutique Kimpton Hotels". Reuters. 16 December 2014. Retrieved 19 February 2023.
  26. ↑ "Completion of Acquisition" (Press release). InterContinental Hotels Group. 16 January 2015. Retrieved 19 February 2023.
  27. ↑ "Holiday-Inn owner IHG posts annual loss on COVID-19 slowdown". Arab News. 23 February 2021. Retrieved 23 February 2021.
  28. ↑ "IHG signs agreement to double presence in Germany". Business Traveller. 16 April 2024. Retrieved 20 April 2024.
  29. 1 2 "Regional headquarters". InterContinental Hotels Group PLC.
  30. ↑ "Denham Location Map" (PDF). InterContinental Hotels Group. Archived from the original (PDF) on 9 August 2014. Retrieved 15 December 2014. IHG, Broadwater Park North Orbital Road, Denham, Buckinghamshire UB9 5HR
  31. ↑ "InterContinental Hotels Group PLC announces that Richard North will be stepping down as Chief Executive".
  32. 1 2 "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.
  33. 1 2 "IHG hotels boss who criticised London's declining listing appeal set to check out and return to US". Evening Standard. 5 May 2023. Retrieved 2 November 2023.
  34. ↑ George, Sara (31 January 2014). "Investigation into the hotel online booking sector". webarchive.NationalArchives.gov.uk. Archived from the original on 2 April 2014. Retrieved 18 November 2017.
  35. ↑ "Hotels chains 'breaching VAT rules'" . The Telegraph. 5 February 2016. Archived from the original on 12 January 2022. Retrieved 18 November 2017.
  36. ↑ Inman, Phillip (10 November 2017). "Sadi​ Khan: Holiday Inn owner has broken vow to pay living wage". The Guardian. Retrieved 18 November 2017.
  37. ↑ "IHG: Our Brands Homepage". InterContinental Hotels Group. Retrieved 3 September 2024.
  38. ↑ "Our Brands". InterContinental Hotels Group. Retrieved 3 September 2024.
  39. ↑ "Beachfront All-Inclusive, excluding Cuba". IHG Hotels & Resorts. Retrieved 3 September 2024.
  40. ↑ "Annual Report 2012" (PDF). IHG. Archived from the original (PDF) on 7 July 2017. Retrieved 28 July 2013.
  41. ↑ "IHG overview". InterContinental Hotels Group. Archived from the original on 14 August 2016. Retrieved 11 September 2018.
  42. ↑ "Point and Mile Values". AwardWallet . Retrieved 8 August 2024.
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