IHG investors shrug off reports that Accor likes merger idea
Accor created a team to examine the possibility of a tie-up earlier in the summer, according to reports in France
Company
Intercontinental Hotels Group PLC
LON:IHG
InterContinental Hotel Group PLC operates 4,150 hotels across nearly 100 countries through seven hotel brands – InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
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Intercontinental Hotels posts heavy loss but sees uptick in occupancy
Occupancy fell to 25% at the height of the coronavirus pandemic restrictions
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FTSE 100 closes ahead as vaccine hopes boost value stocks
The UK index of leading shares finished over 103 points higher, or 1.72%, at 6,154
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UK unemployment to show lockdown peak; insurer Pru and InterContinental Hotels provide Tuesday's corporate focus
While the UK government's furlough scheme has helped to prevent a massive wave of immediate job losses, a swathe of large firms have recently announced thousands of job cuts which could push the UK jobless figure higher
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FTSE 100 closes in positive territory but US fears keep lid on gains
There was a bit more excitement in the FTSE 250, especially for shareholders of Cineworld and Clarkson
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Coming week to see updates from InterContinental Hotels, TUI, Frasers, UK unemployment data also eyed
Other firms on the calendar include Prudential, National Express and Ladbrokes owner GVC
IHG says 1% of hotels closed in China, but 30% in Europe, Middle East and Africa
The Crowne Plaza owner expects revenue per available room to be down 75% in the second quarter
Mixed views on hospitality players but phones ring off the hook ahead of next week’s reopening
Analysts are optimistic for hotels, pubs and restaurants, though holiday packages may recover more slowly
InterContinental Hotels says 85% of hotels reopened but still mostly empty
Revenue per available room slumped 80% in April, having been down 55% in March
InterContinental says most hotels open but deserted in China, USA
Occupancy levels in open hotels are currently in “the low to mid 20% range across the business”
Intercontinental Hotels double upgraded to ‘overweight’ by Barclays on expected “material” share price recovery
The firm was the top pick in the sector though its price target was slashed to 3,800p from 4,200p
Intercontinental Hotels upgraded to ‘buy’ as Deutsche Bank predicts fast recovery for hotels once pandemic ‘stabilises’
The bank said hotel stocks are “traditionally hit hard” in similar situations, but would rise quickly when revenue per available room “shows the first signs of recovery”
Intercontinental Hotels upped to ‘outperform’ as RBC highlights ‘low-risk business model’ amid pandemic
RBC said the company’s decision to cut its capital expenditure and final dividend had resulted in a US$250mln “cash boost” to its balance sheet
Intercontinental Hotels expects 60% global revenue plunge, axes dividend
The Holiday Inn and Crown Plaza owner said demand is “at the lowest levels we've ever seen”
InterContinental Hotels upgraded by UBS as coronavirus "in the price"
Analysts forecast a 30% fall for China revenue per room for 2020 but expect a recovery in 2021 of 15%
InterContinental Hotels hikes dividend 10%
“Performance was impacted by macro and geopolitical factors, increased supply growth ahead of demand in some markets, and ongoing unrest in Hong Kong”
Intercontinental Hotels hit by Hong Kong protests
The FTSE 100 firm said it is “confident” in its financial outcome for the rest of the year
Can InterContinental Hotels stop more investors checking out?
Other announcements on Friday include from Avast, Dechra Pharmaceuticals and London Stock Exchange Group
InterContinental Hotels hit by slower revpar growth in China and US
Comparable revenue per available room flattened off to 0.1% from the 0.3% seen in the first quarter
FTSE 100 closes in red again as traders still fearful on trade wars
It wasn't the steep slide seen yesterday, but FTSE 100 finished lower on Tuesday