InterContinental Hotels Group PLC · LSE:IHG

InterContinental Hotels — Investor Presentation (October 2015)

78 slides from InterContinental Hotels's investor presentation, October 2015

  1. Slide 1: Investor Presentation October 2015

    Holiday Inn Resort, Bali Investor Presentation October 2015 IHG©

  2. Slide 2: IHG has a consistently executed, winning strategy for high quality growth

    IHG has a consistently executed, winning strategy for high quality growth Value creation: superior shareholder returns Value creation: Superior shareholder returns Winning Model Targeted Portfolio Attractive markets Highest opportunity segments Managed & franchised model - Scale and efficiency of op

  3. Slide 3: IHG's portfolio of preferred brands is at the heart of our strategy

    IHG’s portfolio of preferred brands, supported by consumer insight, is at the heart of our strategy Luxury Price Point Midscale Wellbeing Family Time Romantic Getaway Short Break Experience Rest & Go Mixing Business with Pleasure Business Productivity Building Business Interactions Social Identity I

  4. Slide 4: Most pure play, asset light global hotel company

    Most pure play, asset light global hotel company - highest quality of earnings Highest quality revenue stream • >95% of profits from fee business following disposal of InterContinental Hong Kong • ~85% of IHG’s fee revenues linked to hotel revenues • ~15% linked to hotel profits IHG benefits from in

  5. Slide 5: Four levers of growth for our brand portfolio

    Four levers of growth for our brand portfolio • Holiday Inn Brand Family and InterContinental Hotels & Strengthen Resorts both largest brands in their segments by 2x existing brands • 2014 growth milestones achieved: 400th Crowne Plaza; 200th Staybridge Suites; 60th Hotel Indigo in its 10th annivers

  6. Slide 6: Growth strategy focused on optimising profitability

    Growth strategy focused on optimising profitability IHG is a global business managed across four regions with presence in nearly 100 countries… Americas Europe AMEA Greater China Operating Profit (FY 2014) 68% 11% 10% 11% Pipeline Share (H1 2015) 44% 9% 19% 27% …future growth is focused on 10 priori

  7. Slide 7: US supply / demand dynamics remain favourable

    US supply / demand dynamics remain favourable Long-term growth in consumer spend on lodging has exceeded GDP growth by 2% p.a. Demand in the US has reached new records in 20151 H1 occupancy rates above previous high in 19951 Supply growth remains below long-term average (2.0%-2.5%) – STR 2015 foreca

  8. Slide 8: Greater China – long-term mainstream opportunity in tier 2/3 cities

    Greater China – long-term mainstream opportunity in tier 2/3 cities • Established in tier 1 cities with 7k more rooms than any International competitor • Growth in Chinese middle class will benefit tier 2/3 cities • IHG has the largest pipeline in tier 2/3 but is yet to open a hotel in +200 cities C

  9. Slide 9: How IHG is winning in Greater China

    How IHG is winning in Greater China Strong relationships Scalable operational platform, with key stakeholders with local talent infrastructure and regional CEO 30+ years established presence, with pristine corporate reputation Deep understanding Portfolio of brands of market and guest meeting both i

  10. Slide 10: IHG has built a leading position in Greater China

    IHG has built a leading position in Greater China 150 Greater China system & pipeline 125 60k 100 No of rooms ‘000 Pipeline 75 System 50 80k 25 0 IHG Wyndham* Starwood Hilton Marriott Accor Shangri La Hyatt *Operates a predominantly franchised model Source: IHG 30 Sept 2015; All other data is STR Gl

  11. Slide 11: Fee margin progression driven by scale and efficiency

    Fee margin progression driven by scale and efficiency • Fee margin growth of +12%pts in the last ten years • Driven by focused development strategy to grow in priority markets and key cities • Scale and efficiency benefits will continue to be balanced with investment in growth 44.7% +12%pts 32.6% 20

  12. Slide 12: IHG's priorities for cash

    IHG’s priorities for cash Free cash flow Asset disposals/ (after maintenance Capital recycling capital expenditure) Investment grade credit rating Growth capital Sustainable ordinary Additional investment dividend capital returns IHG© 12

  13. Slide 13: Highly focused on cash generation

    Highly focused on cash generation Disciplined approach to capital allocation Efficient Balance Sheet 2014 sources and uses of cash ($m) • Efficient Balance sheet with 1,053 investment grade credit rating Cash inflows 980 Cash outflows • 2.0 to 2.5x net debt / EBITDA • 2.2x at 30 June, 2015 382 712 C

  14. Slide 14: Shareholder returns – consistent ordinary dividend growth and special dividends

    Shareholder returns – consistent ordinary dividend growth and special dividends Over $10.5bn returned since demerger • 2014 total dividend of 77¢, 10% growth, 11% CAGR since 2004 • 2015 interim dividend of 27.5¢, 10% growth Annual ordinary dividend (¢ per share) 77 70 64 +11% 55 48 41 41 41 36 27 27

  15. Slide 15: Capital expenditure philosophy

    Capital expenditure philosophy Medium-term per annum capital expenditure guidance – Gross: up to $350m; Net ~$150m Maintenance capex & key money Medium term p.a. Corporate infrastructure maintenance • Corporate infrastructure relating to non-hotel Maintenance $60m - $85m assets (e.g. corporate offic

  16. Slide 16: Q3 trading – rate driven Global RevPAR growth

    Q3 trading – rate driven Global RevPAR growth1 and highest signings rate since 2008 Europe 7.8% RevPAR growth Greater China 2.2k rooms opened -0.7% RevPAR decline 2.0k rooms signed 1.9k rooms opened Americas 4.8k rooms signed 4.3% RevPAR growth 4.2% US RevPAR growth 3.7k rooms opened 8.0k rooms sign

  17. Slide 17: Commercial strategy

    Hotel Monaco, a Kimpton Hotel, Philadelphia Commercial strategy IHG©

  18. Slide 18: Our commercial strategy supports the winning model

    Our commercial strategy supports the winning model to deliver a leading guest experience Create & Deliver a Consistent & Differentiated In-Hotel Experience Grow & Make Direct the GRS Deepen Relationships Preferred Way with High-Value to Book Guests IHG© 18

  19. Slide 19: Understanding consumers' evolving needs and lifestyle

    Understanding consumers’ evolving needs and lifestyle are at the heart of our strategy Social media Connectivity Personalisation & advocacy New consumer digital lifestyle DREAM PLAN BOOK STAY SHARE RESEARCH READ REVIEWS MAKE JOURNEY POST PHOTO CHECK OPTIONS RESERVATIONS STAY WRITE REVIEW Continuous

  20. Slide 20: Leading digital content and technology innovation drive direct channel delivery

    Leading digital content and technology innovation drive direct channel delivery Lower cost direct channels driving delivery1 2014 channel revenue contribution Digital revenue tracking at $4bn+ per annum 71% • Mobile: +$100m gross bookings per month; ~50% YOY growth 13% OTA • Mobile app: Over 50% YOY

  21. Slide 21: IHG's $1.5bn System Fund supports brand marketing and revenue delivery

    IHG’s $1.5bn(1) System Fund supports our brand marketing and our revenue delivery system Brands Sources of Income Sources of Spend Marketing & Reservations Advertising & Marketing Assessment ~30% ~3.0% of rooms revenue IHG Rewards Club Point Sales Distribution ~40% $1.5bn ~4.75% IHG Rewards Club bil

  22. Slide 22: Our approach to technology

    Our approach to technology Dream Plan Book Stay Share Insight into guest needs across the entire Guest Journey • Know the market and leverage current trends to enhance the guest experience • Understanding needs of different demographics, e.g. Boomers vs. Millennials • Own the ‘stay’ experience • Foc

  23. Slide 23: Preferred Brands

    Hotel Monaco, a Kimpton Hotel, Philadelphia Preferred Brands IHG©

  24. Slide 24: Holiday Inn Brand Family – Brand re-fresh has driven market out-performance

    Holiday Inn Brand Family – Brand re-fresh has driven market out-performance • $1bn global brand re-fresh announced in 2007 Largest ever • Re-launched 3,300 hotels, opened 1,500, and removed 1,100 global brand since programme started re-fresh • Reduced average hotel age to less than both Hampton Inn

  25. Slide 25: Holiday Inn Brand Family – Only global mainstream brand

    Holiday Inn Brand Family – Only global mainstream brand • Top two largest global brands across all segments • Holiday Inn >100k rooms outside the US, more than 4x nearest competitor • Holiday Inn Express doubled non-US presence since 2007 Holiday Inn brand family global Non-US Holiday Inn brand fami

  26. Slide 26: Holiday Inn Brand Family – Guest experience innovations and brand extensions

    Holiday Inn Brand Family – Guest experience innovations and brand extensions • Next generation public area which offers unmatched solution for guest’s business and leisure needs Holiday Inn open lobby • Over 40 already open in Americas • 17 launched across six markets in Europe; delivering 8pts incr

  27. Slide 27: Holiday Inn Brand Family – Global growth and design innovation

    Holiday Inn Brand Family – Global growth and design innovation Holiday Inn Makkah, Saudi Arabia Holiday Inn Express Formula Blue Room, Salt Lake City Holiday Inn Open Lobby, Frankfurt, Germany Holiday Inn Club Vacations, Las Vegas IHG© 27

  28. Slide 28: InterContinental Hotels & Resorts – Momentum behind world's largest luxury brand

    InterContinental Hotels & Resorts – Momentum behind world’s largest luxury brand • 2x larger than nearest competitor Unrivalled global luxury brand • Voted “World’s Leading Hotel Brand” in World Travel Awards for 6th consecutive year • 8 iconic openings and 11 signings in 2014 Global Highlights - Ne

  29. Slide 29: InterContinental Hotels & Resorts – Recent landmark openings and signings

    InterContinental Hotels & Resorts – Recent landmark openings and signings IHG© 29

  30. Slide 30: Boutique portfolio – Developing on our leading position

    Boutique portfolio – Developing on our leading position • Leading boutique footprint with 123 hotels open and 77 in the pipeline at September 2015 Market leading position • Existing strength in the US with significant overseas growth potential • Non-US position expected to double in 3 to 5 years • T

  31. Slide 31: Boutique portfolio – Recent landmark signings and openings

    Boutique portfolio – Recent landmark signings and openings Hotel Monaco, a Kimpton Hotel, Pittsburgh Palladian, a Kimpton Hotel, Seattle Hotel Indigo, Helsinki Hotel Indigo, Bali IHG© 31

  32. Slide 32: Crowne Plaza – Growing scale and making business travel work

    Crowne Plaza – Growing scale and making business travel work • 9% annual room growth outside of US • Doubled non-US presence over last 10 years; added more rooms than any other brand in the upscale segment Growing scale • Driving re-brand opportunities; 30% of total signings in last 3 years • Larges

  33. Slide 33: Crowne Plaza – Market leading global growth

    Crowne Plaza – Market leading global growth Panama Airport Guangzhou Zengcheng, China Potsdamer Platz, Berlin Battersea, London IHG© 33

  34. Slide 34: HUALUXE Hotels and Resorts – Industry first in an untapped market

    HUALUXE Hotels and Resorts – Industry first in an untapped market • First global hotel brand designed specifically Innovative brand for Chinese guest developed for • Based on four Chinese guest priorities – tradition, rejuvenation, Chinese guest status recognition and enabling spaces • Developed in

  35. Slide 35: HUALUXE Hotels and Resorts – First openings in the heart of China

    HUALUXE Hotels and Resorts – First openings in the heart of China OPEN & PIPELINE HOTELS BEIJING SHANGHAI CHINA NANCHANG ● Opened in H1 2015 ● Population: 5.0m* ● High tech zone and gateway to SE China YANGJIANG ● Opened February ● Population: 2.8m* HUALUXE Hotel & Resort, Nanchang Open hotels ● Pop

  36. Slide 36: EVEN Hotels – First two hotels in Norwalk and Rockville

    EVEN Hotels – First two hotels in Norwalk and Rockville Both hotels opened in June 2014 Locations chosen to demonstrate strong comparable performance to owners Excellent initial guest feedback on both IHG and third party review sites1 • Norwalk: 4.5 out of 5 (IHG); #1 out of 14 (3rd party) • Rockvil

  37. Slide 37: EVEN Hotels – Addressing an unmet consumer need

    EVEN Hotels – Addressing an unmet consumer need Cork & Kale Restaurant Athletic Studio Bedroom Eat Well Social Area Well-come Island IHG© 37

  38. Slide 38: Extended stay – rapid growth of both new and acquired brands

    Extended stay – rapid growth of both new and acquired brands Extended stay global room count (k) Staybridge Suites 53 Candlewood +10% 47 22 37 20 17 23 10 28 31 21 13 2005 2008 2011 2014 • Staybridge Suites launched in 1998; Candlewood acquired in 2004 • Average 10% annual extended stay rooms growth

  39. Slide 39: Lifetime relationships

    Hotel Monaco, a Kimpton Hotel, Philadelphia Lifetime relationships IHG©

  40. Slide 40: Enhancing IHG Rewards Club to develop deeper lifetime relationships

    Enhancing IHG Rewards Club to develop deeper lifetime relationships Dream Plan Book Stay Share • Completed first phase roll out of new CRM capability allowing Innovating to hotels teams to offer a more individual service drive personalisation • Next phase of CRM capability to include more personalis

  41. Slide 41: Enhancing IHG Rewards Club to develop deeper lifetime relationships

    Enhancing IHG Rewards Club to develop deeper lifetime relationships Dream Plan Book Stay Share • Our most loyal members are personal advocates for our brands and desire extra level of status recognition • Spire Elite meets this need for recognition and builds a special New top tier rewards relations

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    Page intentionally left blank IHG© 42

  43. Slide 43: Strong direct channels

    EVEN Hotels, Norwalk Strong direct channels IHG©

  44. Slide 44: IHG has led the industry to create a powerful distribution platform

    IHG has led the industry to create a powerful distribution platform • 1st computerised reservation system History of hotel • 1st online bookings industry innovation and firsts • 1st to introduce best price guarantee • 1st to have apps on all mobile platforms • Websites in 16 languages Strong direct

  45. Slide 45: Leading digital innovation driving growth in our direct channel revenue

    Leading digital innovation driving growth in our direct channel revenue Dream Plan Book Stay Share Driving • Continue to grow digital revenue, our lowest cost channel direct channel – Tracking at over $4bn per annum growth – H1 up $220m YOY, more than any other channel • Launched content rich websit

  46. Slide 46: Lowest price promise gives guest clear incentive to book direct

    Lowest price promise gives guest clear incentive to book direct IHG© 46

  47. Slide 47: Stay.com collaboration marks another industry first

    Stay.com collaboration marks another industry first to enhance the guest journey Dream Plan Book Stay Share • Collaboration with digital travel service stay.com to enhance Compelling guest journey from dream to stay digital content • Users can explore destinations and create personalised travel thro

  48. Slide 48: Continue to innovate mobile solutions to enhance guest experience

    Continue to innovate mobile solutions to enhance guest experience and drive delivery Dream Plan Book Stay Share • IHG translator app made available on Apple WatchTM Market • Real time bill viewing added to leading Mobile check-in and check-out mobile services • IHG guest request launched, allowing g

  49. Slide 49: Our mobile app delivers a seamless experience across the guest journey

    Our mobile app delivers a seamless experience across the guest journey Dream Plan Book Stay Share InterContinental Past stays and Points & cash Mobile check-in Post reviews concierge nearby hotels options and check-out IHG© 49

  50. Slide 50: Amadeus strategic relationship - Next generation Guest Reservation System

    Amadeus strategic relationship - Next generation Guest Reservation System Dream Plan Book Stay Share Revolutionising • Cloud based community model – a first for the sector the industry’s • Next generation and fully integrated solution to deliver more technology personalisation and a superior guest e

  51. Slide 51: Amadeus strategic relationship - IHG bespoke tools & systems

    Amadeus strategic relationship - Next generation Guest Reservation System IHG ecosystem Amadeus cloud based community model CRM IHG bespoke tools & systems Rev Mgmt POS PMS Middle ware Mobile App System A System B IHG© 51

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    Page intentionally left blank IHG© 52

  53. Slide 53: Regional Financial Performance H1 2015

    Holiday Inn, Sanya Bay, China Holiday Inn Express, Yancheng’ China Regional Financial Performance H1 2015 IHG©

  54. Slide 54: Business model drives revenue growth in all regions

    Business model drives revenue growth in all regions RevPAR X Rooms X Royalty Rate H1 2015 fee revenue¹ growth (excluding Kimpton) 10.9% 9.1% 9.5% 8.7% 5.1% $22m $6m $3m $1m H1 2015 fee $652m $359m $92m $83m $51m revenue1 Group2 Americas Europe AMEA Greater China ¹ Fee revenue excludes revenue from o

  55. Slide 55: Resilient fee-based business model

    Resilient fee-based business model RevPAR X Rooms X Royalty Rate H1 2015 fee revenue1 $652m up 9% H1 2015 Group RevPAR growth H1 2015 system growth2 (%) 7.4% 5.1% 4.5% 3.3% 5.8% 1.8%pts 2.8% ADR Occupancy RevPAR Gross Net H1 2015: 4.2% total RevPAR growth H1 2015: 28k rooms opened, 14k rooms removed

  56. Slide 56: The Americas – rate driven RevPAR growth and highest signings in 7 years

    The Americas – rate driven RevPAR growth and highest signings in 7 years H1 Growth in fee revenue drivers1 Comparable RevPAR up 5.4%; rate up 4.2% 9.1% • Americas portfolio at all-time occupancy high of 67.8% 5.4% • US RevPAR 5.6%; record US demand for 52 4.6% consecutive months 2.1% YoY net rooms g

  57. Slide 57: Europe – strong performance in UK and Germany

    Europe – strong performance in UK and Germany H1 Growth in fee revenue drivers1 Comparable RevPAR up 5.1% 9.5% • UK 6.1%; UK provinces 8.0% • Germany 5.0% 5.1% YoY net rooms growth 1.2% 1.2% • YoY gross rooms growth 4.4% RevPAR Net rooms Fee revenue Fee revenue1 up 9.5% Total underlying revenue2 up

  58. Slide 58: AMEA – solid growth led by Japan and South East Asia

    AMEA – solid growth led by Japan and South East Asia H1 Growth in fee revenue drivers1 Comparable RevPAR up 5.4% 5.4% 5.1% • Japan 12.8%; South East Asia 7.8% 3.1% $22m Total RevPAR up 4.4% YoY net rooms growth 3.1% RevPAR Net rooms Fee revenue • YoY gross rooms growth 6.9% H1 Net rooms growth (k) F

  59. Slide 59: Greater China – continued industry outperformance

    Greater China – continued industry outperformance Comparable RevPAR up 1.5% H1 Growth in fee revenue drivers1 • Mainland China 4.8%; Hong Kong (9.2)%; Macau (12.1)% 10.9% • 4.8%pts ahead of the industry 9.5% $22m Total RevPAR down 2.4% 1.5% • Mix impact from tier 2 and 3 cities YoY net rooms growth

  60. Slide 60: Revenue & Operating Profit

    Revenue & Operating Profit Total Revenue Total Operating Profit Half Year Full Year Half Year Full Year 2015 2014 2013 2014 2013 2015 2014 2013 2014 2013 Franchised 323 305 278 630 576 279 263 245 544 499 Managed 85 52 79 103 128 36 25 52 47 74 Owned & Leased 63 78 100 138 212 12 8 11 18 30 471 435

  61. Slide 61: Appendix

    InterContinental Hotel, Double Bay, Sydney Appendix IHG© 61

  62. Slide 62: Managed & Franchised business models - the detail

    Managed & Franchised business models - the detail Franchising Managing One of largest franchisers One of largest managers 525,902 franchised rooms 200,974 managed rooms Typically owner operators Typically institutional owners Standard contract Tailored contracts 20 year agreements in US 20+ year agr

  63. Slide 63: Foreign exchange translation exposure

    Foreign exchange translation exposure $8m impact from currency translation in H1 For 1%pt difference in full year group RevPAR growth between constant and actual exchange rates, we expect a $5m impact on reported fee business operating profit1 RevPAR movement summary at constant exchange rates (CER)

  64. Slide 64: One-off profit flags

    One-off profit flags H1 2015 H2 2015 FY 2015 FY 20141 Adjustments following Kimpton acquisition $3m $(6)m $(3)m Refurbishment of InterContinental New York Barclay $(2)m $(4)m $(6)m US healthcare claims $(4)m $(2)m $(6)m Total Americas $(3)m $(12)m $(15)m $(6)m InterContinental Paris – Le Grand owned

  65. Slide 65: Kimpton accounting considerations

    Kimpton accounting considerations Acquisition fully consolidated from 16 January 2015 Fair value of assets and liabilities acquired of $441 million: • $193 million brand value • $71 million management contracts to be amortised over 30 years; c.$2.4m p.a. • $167 million goodwill • $10 million other 2

  66. Slide 66: Hotel franchising

    Hotel franchising Total gross revenue $bn¹ (rooms only) Group royalty drivers H1 2015 YoY Average H1 2015 6.8 rooms 4.0% H1 2014 6.5 RevPAR 5.1% H1 2013 6.1 Royalty fees 9.4% Franchise Fees² $m Franchise EBIT $m (margin %) H1 2015 383 H1 2015 324 (85%) H1 2014 357 H1 2014 300 (84%) H1 2013 332 H1 20

  67. Slide 67: Hotel management

    Hotel management Total gross revenue $bn1(total hotel) Management Fees² $m H1 2015 4.2 4.7 H1 2015 177 210 H1 2014 4.4 H1 2014 181 H1 2013 4.1 H1 2013 171 Managed EBIT² $m (margin %) Reported managed lease revenue and EBIT $m $m H1 2015 H1 2014 H1 2015 100 114 (54%) Americas revenue 22 21 Americas E

  68. Slide 68: Hotel owned & leased

    Hotel owned & leased O&L revenue $m O&L EBIT $m (margin %) H1 2015 147 H1 2015 31 (21%) H1 2014 140 H1 2014 29 (21%) H1 2013 136 H1 2013 28 (21%) Reported O&L revenue O&L EBITDA $m and EBIT from disposals ($m) $m 2015 2014 H1 2015 39 InterContinental Paris Revenue 30 52 InterContinental Paris EBIT (

  69. Slide 69: Free Cash Flow Generation

    Free Cash Flow Generation $m 12 months to 31 December 2014 12 months to 31 December 2013 Operating profit1 651 668 Depreciation & amortisation 96 85 Working capital & other movements2 49 6 Movement in loyalty programme liability and System Fund surplus 58 61 Utilisation of provisions, net of cost (2

  70. Slide 70: Uses of Free Cash Flow

    Uses of Free Cash Flow $m 12 months to 31 December 2014 12 months to 31 December 2013 Free cash flow 321 454 Capital expenditure: Recyclable investments1 (60) (107) Capital expenditure: System Fund investments2 (57) (31) Disposal receipts: Other 48 - Disposal receipts: InterContinental assets 346 50

  71. Slide 71: 2015 Current Trading Comparable RevPAR, ADR & Occupancy Growth

    2015 Current Trading Comparable RevPAR, ADR & Occupancy Growth Quarter 3 Sept YTD Constant US$ RevPAR ADR Occupancy RevPAR ADR Occupancy % % %pts % % %pts Total Americas 4.3% 3.9% 0.3% 5.1% 4.2% 0.6% Total Europe 7.8% 5.1% 2.0% 6.1% 4.0% 1.5% Total AMEA 7.1% 3.7% 2.2% 6.1% 2.6% 2.4% Total Greater Ch

  72. Slide 72: Comparable RevPAR–3 Months to 30 September 2015 Franchised and Managed

    Comparable RevPAR–3 Months to 30 September 2015 Franchised and Managed Constant US$ Franchised Comparable Managed Comparable Hotels Occ % ADR RevPAR Hotels Occ % ADR RevPAR 2015 Pts 2015 Growth 2015 Growth 2015 Pts 2015 Growth 2015 Growth InterContinental 25 66.0% 3.1% 134.26 4.5% 88.66 9.7% 19 82.9

  73. Slide 73: Comparable RevPAR–3 Months to 30 September 2015 Owned & Leased and Total

    Comparable RevPAR–3 Months to 30 September 2015 Owned & Leased and Total Constant US$ Owned & Leased Comparable Total Comparable Hotels Occ % ADR RevPAR Occ % ADR RevPAR 2015 Pts 2015 Growth 2015 Growth 2015 Pts 2015 Growth 2015 Growth InterContinental 1 89.5% 0.5% 333.78 5.0% 298.62 5.6% 75.5% 1.8%

  74. Slide 74: Comparable RevPAR–9 Months to 30 September 2015 Franchised and Managed

    Comparable RevPAR–9 Months to 30 September 2015 Franchised and Managed IHG© 74

  75. Slide 75: Comparable RevPAR–9 Months to 30 September 2015 Owned & Leased and Total

    Comparable RevPAR–9 Months to 30 September 2015 Owned & Leased and Total IHG© 75

  76. Slide 76: Hotel & Room Count as at September 2015

    Hotel & Room Count as at 30 September 2015 IHG© 76

  77. Slide 77: Pipeline as at September 2015

    Pipeline as at 30 September 2015 IHG© 77

  78. Slide 78: Investor Relations team contact details

    Investor Presentation October 2015 Investor Relations team contact details: Catherine Dolton Matt Woollard [email protected] [email protected] +44 (0)1895 512216 +44 (0) 1895 512171 Adam Smith Debbie Holmes [email protected] [email protected] +44 (0)1895 512829 +44 (0) 1895 512176

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