InterContinental Hotels: Preliminary Results for the year to 31 December 2014 (United Kingdom)
Excellent year with strong financial performance and continued delivery of winning strategy |
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InterContinental Hotels: Preliminary Results for the year to 31 December 2014 (United Kingdom)
Excellent year with strong financial performance and continued delivery of winning strategy |
Category: Europe - United Kingdom - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2015-02-19
Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said:
“2014 was an excellent year for IHG as we delivered against our long-term winning strategy for high quality growth. We achieved strong RevPAR performance of 6.1%, and our best net system size growth since 2009 of 3.4%, increasing our operating profit on an underlying2 basis by 10%.
We remain committed to reducing the capital intensity of the business and maintaining an efficient balance sheet with disposal proceeds received in the year of almost $400m and shareholder returns, including ordinary dividends, of over $1bn. We are proposing an increase in the total dividend for the year of 10%.
We expanded our brand portfolio and strengthened our position in boutique hotels, the fastest growing segment in the industry over the last five years, with the acquisition of Kimpton Hotels & Restaurants. The first properties for our innovative, consumer focused, EVEN Hotels and HUALUXE Hotels and Resorts brands are now open. Significant growth milestones were achieved across our established brands as we continue to strengthen our scale positions in the most important global markets.
Looking into 2015, we face many macroeconomic and geopolitical uncertainties, but are confident that our strategy for high quality growth coupled with the momentum in the business positions us well for continued strong performance.”
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