InterContinental Hotels Group Plc - IHG STOCK NEWS

Chase and IHG Hotels & Resorts unveiled the IHG Rewards Premier Business Mastercard featuring up to 140,000 bonus points for new cardmembers. This business card optimizes rewards for everyday expenses, offering 5X points on travel and gas, among other categories. Enhanced benefits across IHG's consumer cards were also announced, including 3X points on utilities and dining. The consumer cards provide a simplified path to elite status with added benefits such as anniversary free nights and bonus points, improving customer engagement and loyalty.

Expedia Group and IHG Hotels & Resorts have partnered to enhance wholesale distribution via Expedia’s Optimized Distribution Preferred program. This collaboration aims to streamline IHG's rate management, reducing distribution costs while increasing revenue opportunities. The program addresses inefficiencies in the wholesale market, connecting hotels with B2B demand partners, including travel agents and operators. IHG’s Chief Commercial Officer highlighted the partnership’s potential for improved revenue management and cost savings, emphasizing added value for hotel owners.

Service Properties Trust (Nasdaq: SVC) reported a fourth-quarter net loss of $(198.8) million or $(1.21) per share, an increase from a $(137.7) million loss in Q4 2020. Normalized funds from operations (FFO) were $27.9 million, or $0.17 per share, compared to a loss of $(22.5) million in the prior year. The company achieved an adjusted EBITDAre of $119 million, up 83.2% year-over-year. SVC continues to execute its hotel disposition plan with $430 million in sales either closed or under contract, anticipating proceeds exceeding $560 million. The portfolio remains stable despite Omicron impacts.

IHG Hotels & Resorts is launching significant enhancements to its loyalty program, IHG Rewards, set to debut in March 2022. This revamped program will introduce a new Gold Elite tier with a 40% bonus point structure, rename the existing Spire Elite tier to Diamond Elite, and improve bonus point levels across all Elite tiers. These changes aim to enhance member experiences and accelerate point accumulation. As travel resumes, IHG's investment in loyalty reflects its commitment to adapting to evolving guest needs and enriching the travel experience.

IHG Hotels & Resorts has partnered with Coca-Cola to launch 'Santa's Suite Retreat' at the InterContinental New York Barclay and InterContinental Buckhead Atlanta, starting December 13. The unique holiday experience offers guests a festively decorated suite, complete with holiday aromas, carols, and themed amenities. IHG Rewards members can also access exclusive stays at Crowne Plaza Atlanta Perimeter at Ravinia. Bookings start December 9 at santasuiteretreat.com. This initiative aims to foster human connection during the holiday season.

Holiday Inn Express has surpassed 3,000 properties globally, with over 300,000 rooms across 2,100 cities. This brand is a significant growth driver for IHG Hotels & Resorts, accounting for over one-third of its pipeline with nearly 650 new openings anticipated. The brand recently signed its first property in Japan, aligning with its expansion in key markets. Celebrating its 30th anniversary, Holiday Inn Express offers consistent hospitality and plans to continue innovating to meet evolving customer needs.

Service Properties Trust (Nasdaq: SVC) reported a third quarter net loss of $59.7 million, or $(0.36) per share, improving from a loss of $102.6 million in Q3 2020. Normalized FFO rose to $43.8 million, or $0.27 per share, from $23.2 million, while EBITDAre increased 32.5% to $137.3 million. Hotel portfolio occupancy improved to 60.1%, and RevPAR surged by 75.7% year-over-year. SVC maintains strong liquidity with $912.5 million in cash and no debt maturities until Q3 2022, anticipating a rebound in business travel as urban areas re-open.