The FTSE 100 hotels operator behind the Holiday Inn and Crowne Plaza chains has announced a further $750m share buyback on the back of strong full-year results.
InterContinental Hotels Group, which also restored ordinary dividends for the full year, said its revenue per available room was “back close to 2019 levels” and had been ahead in the second half.
Underlying revenue for the year rose by 33% to $1.84bn, with operating profit up 55% at $828m. Net debt fell slightly to $1.85bn.
IHG has about 6,000 hotels in more than 100 countries, with another 1,800 in the pipeline. Most are owned by third parties and are franchised or under management contracts.
