IHG Hotels & Resorts | |
Company type | Public |
ISIN | GB00BHJYC057 |
Industry | Hospitality |
Founded | 15 April 2003 |
Headquarters | Windsor, England, UK |
Number of locations | 6,028 hotels 884,820 rooms [1] (2022) |
Area served | Global |
Key people | Deanna Oppenheimer (Chair) Elie Maalouf (CEO) |
Products | Hotels and resorts |
Brands | see Brands |
Revenue | US$4,624 million (2023) [2] |
US$1,066 million (2023) [2] | |
US$750 million (2023) [2] | |
Number of employees | 345,000 (2024) [3] |
Website | www |
InterContinental Hotels Group (IHG), marketed as IHG Hotels & Resorts, is a British multinational hospitality company headquartered in Windsor, Berkshire, England. [4] It is listed on the London Stock Exchange and the New York Stock Exchange. [5] It is also a constituent of the FTSE 100 Index.
The origins of the business may be traced to 1777 when William Bass established the Bass Brewery in Burton-upon-Trent. [6] The company later changed its name to Bass Charrington. Its first entry into the lodging sector came with acquisition of tied public houses. In 1969, it launched the Crest Hotels chain. [7]
In 1988, after the British government limited the number of pubs that brewers could directly own, Bass further invested in the expansion of its hotel business with the purchase of Holiday Inn International from shareholders. [6] Bass sold off the bulk of Crest Hotels in 1990, and the few remaining properties were absorbed into the Holiday Inn chain. [8] [9] Bass expanded its hotel business again in 1998, acquiring the luxury Inter-Continental hotel chain, which had been founded by Juan Trippe, from the Saison Group. [10] The hotel division was then renamed from Holiday Hospitality to Bass Hotels & Resorts, to reflect its expansion beyond the Holiday Inn brand. [11]
Bass changed its name to Six Continents in 2001, after having sold its brewing assets and the Bass name, and Bass Hotels & Resorts became Six Continents Hotels. [12]
Six Continents announced in October 2002 that it would split itself in two, with one company holding its pubs and restaurants, and the other holding its hotel and soft drink businesses. [13] The split was completed on 15 April 2003, establishing InterContinental Hotels Group as an independent company, alongside the pub company, Mitchells & Butlers. [14] IHG's hotel portfolio at the time comprised 3,325 properties, primarily under the Holiday Inn, Crowne Plaza, and InterContinental brands. [15] Of those, 190 were owned or leased by the company, with the remainder under management or franchise agreements. [16]
After the separation from Six Continents, IHG began an asset disposal program, selling off hotels to move towards an "asset-light" model focused on franchising and management. [17] From 2003 to 2015, the company sold around 200 hotels for a total of almost $8 billion, [18] [19] leaving only 7 owned or leased properties in the portfolio. [20]
In 2004, IHG acquired the Candlewood Suites brand, a midscale extended stay hotel brand with 108 franchised properties in the United States, for $15 million. [21] [22] IHG divested its soft drink holdings in 2005, selling its 48 percent stake in Britvic for £371 million through an initial public offering. [23] [24]
In 2015, IHG acquired Kimpton Hotels, a boutique hotel brand with 62 managed properties, for $430 million. [25] [26] In February 2021, IHG announced an annual loss of $153 million caused by restrictions related to the COVID-19 pandemic. However, the company expected that the Holiday Inn Express brand would help in the recovery process. [27]
The company's worldwide headquarters and European offices are located in Windsor, Berkshire, England. [28] [29] IHG maintains regional offices in Atlanta, Singapore and Shanghai. [28]
In July 2012, the Office of Fair Trading alleged that IHG had broken competition law by preventing online travel agents from discounting the price of room-only hotel accommodations. In February 2014, IHG agreed to end the practice of price fixing. [33]
In May 2012, the UK Advertising Standards Authority (ASA) warned IHG that it must include VAT in its advertised prices. In August 2012, a report by Which? magazine showed that IHG was continuing to violate VAT rules. [34]
In November 2017, London mayor Sadiq Khan accused IHG of failing to fulfil a commitment to pay a living wage. [35]
IHG has 18 brands marketed under five segments: [36] [37]
Brand | # properties (as of 2022) |
---|---|
Luxury & Lifestyle | |
Hotel Indigo | 135 |
InterContinental Hotels & Resorts | 208 |
Kimpton Hotels & Restaurants | 76 |
Regent Hotels & Resorts | 8 |
Six Senses | 20 |
Vignette Collection | 3 |
Premium | |
Crowne Plaza Hotels & Resorts | 401 |
Even Hotels | 22 |
Hualuxe Hotels & Resorts | 19 |
Voco | 41 |
Essentials | |
Avid Hotels | 55 |
Holiday Inn | 1,182 |
Holiday Inn Express | 3,059 |
Suites | |
Atwell Suites | 2 |
Candlewood Suites | 367 |
Holiday Inn Club Vacations | 28 |
Staybridge Suites | 315 |
Exclusive Partners | |
Iberostar Beachfront Resorts [38] | 70 |
In 2012, IHG claimed more than 5,400 hotels, with 4,433 operated under franchise agreements, 907 managed by the company but separately owned and eight directly owned. [39] As of 31 March 2019, IHG has 842,759 guest rooms and 5,656 hotels across nearly 100 countries. [40]
Holiday Inn is an American chain of hotels based in Atlanta, Georgia and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson, who opened the first location in Memphis, Tennessee. The chain was a division of Bass Brewery from 1988-2000, Six Continents from 2000-03, and IHG Hotels & Resorts since 2003. It operates hotels under the names Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, and Holiday Inn Resorts. As of 2018, Holiday Inn has hotels at over 1,100 locations.
Bass Brewery was founded in 1777 by William Bass in Burton-upon-Trent, Staffordshire, England. The main brand was Bass Pale Ale, once the highest-selling beer in the UK. By 1877, Bass had become the largest brewery in the world, with an annual output of one million barrels. Its pale ale was exported throughout the British Empire, and the company's red triangle became the UK's first registered trade mark.
Crowne Plaza is a British-American multinational chain of full service, upscale hotels headquartered in the United Kingdom. It caters to the business, leisure and blended travel market usually located in city centers, resorts, coastal towns or near major airports. The brand is part of IHG Hotels & Resorts family of brands, which include InterContinental Hotels & Resorts and Holiday Inn Hotels & Resorts, and operates in nearly 100 countries with more than 400 hotels and 110,000 bedrooms,
InterContinental Hotels & Resorts is a British-American luxury hotel brand created in 1946 by Pan Am founder Juan Trippe. It has been part of UK-based InterContinental Hotels Group since 1998. As of January 2023, there were 208 InterContinental hotels worldwide, with 70,287 rooms.
Holiday Inn Express is an American-based mid-priced hotel chain within the IHG Hotels & Resorts family of brands. Originally founded as an "express" hotel, their focus is on offering limited services at a reasonable price. Standard amenities lean toward the convenient and practical which cater to business travelers and short-term stays. As of September 2019, there are 2,826 Holiday Inn Express hotels featuring over 292,000 rooms worldwide. The chain's concept was intended to target the "upper economy" market segment.
Six Continents was a large British-based hotel and hospitality business which was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.
Mitchells & Butlers plc runs circa 1,784 managed pubs, bars and restaurants throughout the United Kingdom. The company's headquarters are in Birmingham, England. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Candlewood Suites is a hotel chain brand owned by IHG Hotels & Resorts.
Wyndham Hotels & Resorts, Inc. is an American hotel company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,280 locations. It has a portfolio of 20 hotel brands, including Baymont, Days Inn, Howard Johnson, La Quinta, Ramada, Super 8, Travelodge, and Wyndham.
Harvester is a casual dining restaurant chain in the United Kingdom.
Regent Hotels & Resorts is a British-American luxury hospitality brand, founded by hotelier Robert H. Burns in 1970. After passing through different owners since foundation, it is currently jointly owned by IHG Hotels & Resorts and Formosa International Hotels Corporation since July 2018, with hotels and resorts in Asia and Europe.
Regent Hong Kong is a five-star hotel located at 18 Salisbury Road, Kowloon, Hong Kong. The hotel is positioned directly on the waterfront, offering views of Victoria Harbour and is close to various tourist attractions. The hotel has 497 rooms and 129 suites, and is considered to be the flagship property of the group.
Andrew Peter Cosslett, is a British businessman and chairman of the Rugby Football Union, and Kingfisher plc.
Principal Hotel Company is a British hotel and conference venue operator headquartered in Harrogate, England.
The Londoner Macao is a casino resort on the Cotai Strip, Macau. On 5 August 2011, Sands China announced that the $4 billion property, long referred to as parcels five and six, would be officially named Sands Cotai Central. The first portion of the resort opened on 11 April 2012. The resort was rebranded as The Londoner Macao in 2021. The resort's redesign was completed in May 2023.
IHG Army Hotels is a collection of private-sector hotels located on Army installations and Joint Bases throughout the U.S. It is the result of a partnership between InterContinental Hotels Group (IHG) and Lend Lease Group. This partnership was formed in response to the Privatization of Army Lodging (PAL) program by the United States Army. The Army's request for qualifications (RFQ) sought to fulfill specific requirements that included improving the quality of on-post lodgings throughout the U.S., Alaska, Hawaii, and Puerto Rico. This RFQ sought entities with experience in the management of room inventory and hotel service, expertise in construction, and financing experience relating to the upgrades and renovations of existing on-post Army lodgings. U.S. Army awarded the PAL program to Lend Lease (US) with a 50-year lease deal, and IHG, with a 25-year management agreement with options to extend. As part of the RFP agreement, these hotels provide lodging to service members of all branches of the U.S. Armed Forces, government and civilian contractors, military families, veterans, civilians and retirees. There are 76 IHG-branded hotels with about 11,600 rooms located on Army bases in the U.S., Alaska, Hawaii, and Puerto Rico.
The Ariel Hotel is a circular hotel very close to London Heathrow Airport.
Voco is an hotel brand owned by the InterContinental Hotels Group.
ANA Hotels is a Japanese hotel chain established in 1973 by All Nippon Airways (ANA). In October 2006, ANA sold majority ownership of ANA Hotels to the InterContinental Hotels Group (IHG), which is now the primary shareholder. The managed properties of ANA Hotels are marketed under the ANA InterContinental, ANA Crowne Plaza, ANA Hotels and ANA Holiday Inn brands.
IHG, Broadwater Park North Orbital Road, Denham, Buckinghamshire UB9 5HR
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