InterContinental Hotels Group

Ticker IHG

Today's data summary

Market closed
% change
+0.58%
Price Pence
5063.00
Change
+29.00
As of 09:03 19 May 2019
Market cap. Pound sterling
9,216.35 million
As of 09:03 19 May 2019

Latest updates

IHG adds 56,000 rooms

Hotel
IHG

Intercontinental Hotels Group said it added 56,000 rooms last year, a rise of 17%.

It said revenue climbed 12% to $1.9bn (£1.47bn) and announced the launch of a new suite-only high end brand, which it said targeted “an $18bn industry segment”.

The owner of the Holiday Inn and Kimpton Hotels brands last week last week bought Six Senses, a 16-strong luxury hotel and resort company, from Pegasus Capital Advisors for $300m.

IHG’s chief executive Keith Barr said: “The investments we have made have had a significant impact, allowing us to further evolve our established brands, move quickly to strengthen our portfolio both organically and by acquisition.”

Greggs leads market winners

Taking a bite out of a Greggs pasty
Newscast

The stock market has responded positively to Greggs profit upgrade. Its shares climbed 9% before falling back a little in early trading.

McColl's has had another good day with its shares up more than 4%.

Looking at the FTSE 100, Tui is up 2.62% while IHG has climbed 1.81% after revealing it added 56,000 rooms last year.