InterContinental Hotels Group PLC (LON:IHG), a global hospitality leader, announced on Thursday the approval of a Base Prospectus related to a £4,000,000,000 Euro Medium Term Note Programme.
This financial instrument will be guaranteed by Six Continents Limited, InterContinental Hotels Limited, and, as applicable, IHG Finance LLC or InterContinental Hotels Group PLC itself.
The Base Prospectus, dated Thursday, is now approved by the Financial Conduct Authority and will soon be available for public inspection on the National Storage Mechanism website. This move by IHG is part of its broader financial strategy, ensuring the company has the flexibility to issue notes in the future under this program.
IHG, which operates over 6,400 hotels across more than 100 countries and has a development pipeline of over 2,200 properties, has a diverse portfolio of 19 hotel brands. These range from luxury and lifestyle options like Six Senses and Regent to essentials and suites such as Holiday Inn and Candlewood Suites.
The company, headquartered in Windsor, United Kingdom, is known for its commitment to providing 'True Hospitality for Good.' It employs approximately 375,000 people worldwide in its hotels and corporate offices.
Investors and analysts seeking further details on this announcement can reach out to the IHG Investor Relations team. Media inquiries can be directed to the company's Media Relations contacts. Both teams are available via email, as provided in the press release.
The company's shares are traded on the London Stock Exchange for Ordinary Shares and on the New York Stock Exchange for ADRs. IHG continues to focus on growth and expansion, as evidenced by its extensive loyalty program, IHG One Rewards, and its continuous pipeline of new hotel developments.
In other recent news, InterContinental Hotels Group has been the subject of several significant developments. Goldman Sachs upgraded the company's shares from 'Neutral' to 'Buy', citing potential for enhanced long-term earnings per share (EPS) growth and additional revenue opportunities. The firm also projected a 15.1% compound annual growth rate in EPS for InterContinental from 2023 to 2028.
In addition to the upgrade, InterContinental declared an interim dividend for 2024 at a rate of 40.8 pence per ordinary share, reflecting the company's financial performance and commitment to delivering shareholder value. The company also revealed plans to open over 7,000 rooms this year as part of its net unit growth of 4.2%, including the NOVUM deal.
During a recent earnings call, InterContinental expressed confidence in its growth trajectory despite mixed market signals. The company reported positive revenue per available room growth and optimism about long-term prospects in key markets such as China.
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