InterContinental Hotels Group PLC
InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the United Kingdom, the United States, and internationally. It operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotel, Hotel Indigo, voco, Ruby, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN Hotels, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, IHG, Holiday Inn Club Vacations, and Candlewood Suites brand names. The company also provides IHG Rewards loyalty program. InterContinental Hotels Group PLC was formerly known as Six Continents PLC and changed its name to InterContinental Hotels Group PLC in June 2003. The company was founded in 1777 and is headquartered in Windsor, United Kingdom.
What does it do?
InterContinental Hotels Group — better known as IHG — is one of the world's largest hotel companies. You've almost certainly stayed in one of their properties without realising it, because they own the brands behind Holiday Inn, Crowne Plaza, and the luxury InterContinental hotels. They have over 6,000 hotels across more than 100 countries, covering everything from budget roadside stops to five-star city resorts. Think of them as the company quietly running the show behind a huge chunk of the world's hotel beds.
IHG is a barometer for global travel demand — when people are flying and spending on holidays or business trips, IHG benefits directly. The post-pandemic travel recovery has supercharged hotel revenues, and IHG is one of the clearest ways investors can bet on that trend continuing. With a $25 billion market cap, it's large enough to matter but not so dominant that all the growth is already priced in.
How does it make money?
IHG makes most of its money through a 'franchise and management' model — meaning it earns fees from thousands of independently owned hotels that pay IHG to use its brand names, booking systems, and loyalty programme. This is smart because IHG doesn't have to own the buildings or carry the debt, it just collects a cut of revenue. In its latest financial year, the company pulled in $2.5 billion in revenue, up from $2.3 billion the year before, and converted $800 million of that into net profit — a healthy margin. Its IHG One Rewards loyalty programme, with over 130 million members, keeps customers coming back and gives franchisees a reason to pay for the brand.
Why do investors care?
The investment case rests on two things: the ongoing global travel boom and IHG's ability to keep growing its network of hotels without spending heavily on bricks and mortar. Because it earns fees rather than building hotels itself, profits can grow faster than revenue — every new franchise hotel added is almost pure upside. The company is also pushing aggressively into luxury with brands like Six Senses and Regent, where fees and spending per guest are much higher. For this story to play out, leisure and business travel need to stay strong, and IHG needs to keep winning franchise deals over rivals like Marriott and Hilton.
Deep Dive
MemberA full investor briefing on InterContinental Hotels Group PLC — history, leadership, risks, and outlook.