Welcome to our dedicated page for InterContinental Hotels news (Ticker: IHG), a resource for investors and traders seeking the latest updates and insights on InterContinental Hotels stock.
IHG Hotels & Resorts (IHG) operates one of the world's most diverse hospitality portfolios, spanning 19 brands across 100+ countries. This news hub provides investors and industry professionals with essential updates on strategic initiatives, financial performance, and market developments.
Track IHG's latest press releases covering earnings reports, property expansions, technology partnerships like its Google Cloud collaboration, and sustainability efforts. Our curated collection offers insights into leadership changes, brand innovations such as the IHG One Rewards program enhancements, and global market entries.
Bookmark this page for real-time updates on IHG's asset-light growth strategy, franchising opportunities, and digital transformation projects shaping modern hospitality. Stay informed about operational milestones through verified announcements directly from the company and trusted financial analysts.
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.
IHG Hotels & Resorts has partnered with Josh.ai to create the hotel room of the future at the Kimpton Rowan in Palm Springs, CA. This innovation features voice-controlled technology, enhancing guest experience through smart automation and personalization. The incorporation of Josh.ai promotes privacy and data security while ensuring an intuitive interaction for users. Guests can control lighting, music, and entertainment seamlessly. The initiative aligns with evolving consumer preferences for digital experiences, marking IHG as a leader in hospitality technology.
IHG Hotels & Resorts has launched a unique tennis-themed installation called 'Tennis in Wonderland' at the Kimpton Hotel Eventi in New York City, celebrating the 2021 US Open. Starting September 1, guests can experience this creatively designed room featuring tennis-inspired decor. IHG is the official hotel sponsor of the tournament, aiming to enhance guest experiences through innovative design. This initiative highlights IHG's long-term partnership with the United States Tennis Association, further solidifying its presence in the hospitality and sports sectors.
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