Intercontinental Hotels Group Plc · LSE:IHG
Intercontinental Hotels — Investor Presentation (November 2026)
82 slides from Intercontinental Hotels's investor presentation, November 2026
Slide 1: Investor Deck
IHG HOTELS & RESORTS Investor Deck
Slide 2: Contents
Contents Part A Pages 4 – 17 Intro to IHG for investors Part B Pages 18 – 19 Q3 2026 Trading Update (22 October 2026) Part C Pages 20 – 47 Additional materials on IHG’s areas of focus: Pages 22 – 33 Growing our brands Pages 34 – 38 Expanding in key geographic markets Pages 39 – 45 Developing our lea
Slide 3: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This document may contain projections and forward looking-statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward-looking statements. All statements other than statements of historical
Slide 4: Intro to IHG for investors
Intro to IHG for investors A4
Slide 5: Attractions of our industry
Intro to IHG Attractions of our industry – The industry benefits from enduring structural growth drivers of Leading global hotel companies – Growing populations and rising middle classes continue their long-term trend of – Driving business and commerce taking market share – Inherent desire to travel
Slide 6: Industry growth forecasts
Intro to IHG Industry growth forecasts Estimated growth in hotel room nights consumed (decade through to 2035) Global US China RoW +3.6% +2.5% +4.2% +3.8% CAGR CAGR CAGR CAGR Estimated growth in Travel & Tourism spending1 (decade through to 2035) Global US China RoW +6.0% +4.2% +9.5% +5.8% CAGR CAGR
Slide 7: IHG's strong business model: sustainable competitive advantage
Intro to IHG IHG’s strong business model: sustainable competitive advantage A leading global hospitality company with 7,100+ open hotels in more than 100 countries and a further 2,400+ in the pipeline representing +33% future rooms growth Well-invested High-value geographic Asset-light, Robust pipel
Slide 8: Underpinned by clear purpose, ambition and strategic priorities
Intro to IHG Underpinned by clear purpose, ambition and strategic priorities OUR PURPOSE OUR AMBITION WHAT WE DO WHY WE DO IT Provide True To be the hotel company of choice Hospitality for Good for guests and owners OUR STRATEGIC PRIORITIES HOW WE MAKE IT HAPPEN RELENTLESS BRANDS LEADING CARE FOR FO
Slide 9: Asset light, mainly franchised, and geographically diverse
Intro to IHG Asset light, mainly franchised, and geographically diverse System size and pipeline Strong competitive position in an industry where System size (rooms): Luxury branded players are gaining 2% <1% 10% 228k 535k market share 27% 71% 22% 50% Upscale/ Upper Midscale/ With a larger share Ups
Slide 10: Our asset light business model
Intro to IHG Our asset light business model Franchised Managed Exclusive Partners Owned & Leased 71% 27% 2% <1% Fee revenue: Fee revenue: Fee revenue: We record the entire revenue and profit of the hotel in our financial Royalty Fee: Base Management Fee: We receive marketing, statements. fixed perce
Slide 11: Brand portfolio expansion since 2015
Intro to IHG Brand portfolio expansion since 2015 Eleven brands added to our industry-leading portfolio through a combination of organic launches, acquisitions and commercial partnerships Legend New Brand LUXURY & LIFESTYLE PREMIUM ESSENTIALS SUITES EXCLUSIVE PARTNERS A 11
Slide 12: Strong portfolio of 21 preferred brands across chain scales
Intro to IHG Strong portfolio of 21 preferred brands across chain scales Having added eleven brands to our portfolio since 2015 LUXURY & PREMIUM ESSENTIALS SUITES EXCLUSIVE LIFESTYLE PARTNERS SYSTEM SYSTEM SYSTEM SYSTEM SYSTEM 14% 16% 59% 9% 2% PIPELINE PIPELINE PIPELINE PIPELINE PIPELINE 20% 22% 46
Slide 13: Positioned to capture future guest and owner preferences
Intro to IHG Positioned to capture future guest and owner preferences IHG’s industry-leading portfolio of 21 brands appeal to guests and owners across price points, stay occasions and build-types Luxury Upper Upscale / Upscale Upper Midscale / Midscale Partners / Other Note: STR chain scale classifi
Slide 14: Strategically diversified
Intro to IHG Strategically diversified IHG’s current footprint captures the industry’s long-term, structural growth drivers across regions and price points Geographic Mix (rooms) Chain Scale Mix (rooms) Industry Industry1 10% 8% 32% 26% 33% 50% 47% 40% 28% 64% 22% 22% 19% Americas EMEAA Greater Chin
Slide 15: IHG's enterprise platform: why hotel owners choose to work with us
Intro to IHG IHG’s enterprise platform: why hotel owners choose to work with us Commercial engine Technology Strength of brands We invest in our digital platforms, We work with third-party suppliers data and analytics, revenue A portfolio of brands across and invest in leading technology management,
Slide 16: Our growth algorithm
Intro to IHG Our growth algorithm Strong track record, performance and potential; driving compounding growth and sustainable shareholder value creation IHG's strong IHG's strong IHG’s continued IHG's strong track record performance execution potential decade to 2019 2025 vs 2024 HY 2026 vs HY 2025 l
Slide 17: Continuing our capital allocation approach to return surplus capital
Intro to IHG Continuing our capital allocation approach to routinely return surplus capital to shareholders – on track to complete $950m buyback in 2026 #1: Invest in the business #2: Sustainably grow the #3: Return surplus funds to drive growth ordinary dividend to shareholders Objective of maintai
Slide 18: Q3 Trading Update
Q3 Trading Update B 18
Slide 19: Q3 2026 Very strong trading performance
Q3 2026 Very strong trading performance; continued development momentum; confident of achieving consensus expectations for the year • Q3 YTD Global RevPAR +4.6%, with Americas +5.6%, EMEAA +3.7% and Greater China +1.0% Trading • Q3 Global RevPAR +5.3%, with Americas +6.8%, EMEAA +5.0% and Greater Ch
Slide 20: IHG's areas of focus
IHG’s areas of focus C 20
Slide 21: Our areas of focus
Our areas of focus 01 02 03 04 05 Growing our Expanding in Developing Driving Delivering brands key our leading ancillary fee increased geographic technology streams dividends and markets and enterprise returning platform surplus capital to our shareholders C 21
Slide 22: Growing our brands
IHG’s areas of focus Growing our brands C 22
Slide 23: Newer brands add depth and breadth to our brand ladder
Progress on strategic priorities: growing our brands Newer brands add depth and breadth to our brand ladder 11 new brands in 11 years; capturing more guests and owners across more price points and property types; powered by the IHG masterbrand and IHG One Rewards Established Newer to IHG Exclusive C
Slide 24: Record development activity across established and newer brands
Progress on strategic priorities: growing our brands Record development activity across established and newer brands Established brands are driving openings and signings activity off a large base, while newer brands continue to scale at pace Established brands Newer brands to IHG1 FY Openings Establ
Slide 25: Strengthening leadership in Luxury & Lifestyle
Progress on strategic priorities: growing our brands Strengthening leadership in Luxury & Lifestyle Industry-leading portfolio of higher fee-per-key brands with 990 hotels open and in the pipeline; 14% of global system size and 22% of pipeline Brand highlights New signings in sought after destinatio
Slide 26: Building Premium power
Progress on strategic priorities: growing our brands Building Premium power Six differentiated brands that enhance our global capabilities and drive cross-category demand; 15% of global system size and 22% global pipeline 965 open and pipeline hotels (48% future rooms growth embedded in the pipeline
Slide 27: Noted Collection
Progress on strategic priorities: growing our brands Noted Collection A new Premium collection brand designed to power the performance of high-quality, distinctive hotels in the upscale to upper upscale segments Fills a key whitespace in the brand ladder Builds on the success of Vignette Collection
Slide 28: Extending Mainstream leadership
Progress on strategic priorities: growing our brands Extending Mainstream leadership Powerhouse portfolio of Essentials and Suites brands with 5.5k hotels open and 1.5k more in the pipeline; 68% of global system size and 56% of pipeline Brand highlights 3.3k hotels globally, 655 more in the pipeline
Slide 29: Brand spotlight
Progress on strategic priorities: growing our brands Brand spotlight Recently acquired and organically developed brands gaining momentum with strong development activity and trading performance Regent Carlton Cannes Ruby Frida Hotel Stockholm Garner Beijing 798 Art District 25 open + pipeline hotels
Slide 30: Selection for US Air Force lodging reflects strength of our enterprise
Progress on strategic priorities: growing our brands Selection for US Air Force lodging reflects strength of our enterprise Operational transfer to begin in 2027 and is expected to initially include hotels on 23 Air Force installations Building on our success with the US Army IHG and our partner Cen
Slide 31: Americas: brand portfolio mix
Progress on strategic priorities: growing our brands Americas: brand portfolio mix Adding more balance to the mix and developing in large and high growth segments LUXURY & PREMIUM ESSENTIALS SUITES EXCLUSIVE LIFESTYLE PARTNERS AMERICAS SYSTEM AMERICAS SYSTEM AMERICAS SYSTEM AMERICAS SYSTEM AMERICAS
Slide 32: EMEAA: brand portfolio mix
Progress on strategic priorities: growing our brands EMEAA: brand portfolio mix Strongly balanced and with opportunities across all brands and segments LUXURY & PREMIUM ESSENTIALS SUITES EXCLUSIVE LIFESTYLE PARTNERS EMEAA SYSTEM EMEAA SYSTEM EMEAA SYSTEM EMEAA SYSTEM EMEAA SYSTEM 21% 24% 49% 2% 4% E
Slide 33: Greater China: brand portfolio mix
Progress on strategic priorities: growing our brands Greater China: brand portfolio mix Leading brand positions established in each of the Luxury & Lifestyle, Premium and Essentials categories, with more opportunity to come LUXURY & PREMIUM ESSENTIALS SUITES EXCLUSIVE LIFESTYLE PARTNERS GREATER CHIN
Slide 34: Expanding in key geographic markets
IHG’s areas of focus Expanding in key geographic markets C 34
Slide 35: Diversified geographic footprint
Progress on strategic priorities: expanding in key geographic markets Diversified geographic footprint With 7,100+ hotels in over 100 countries, we have a strong global footprint; ~60% of our pipeline is in rapidly growing economies in Asia and IMEA Nearly 90% of IHG’s guests in the LTM ending 30 Ju
Slide 36: Taking share in key geographic markets
Progress on strategic priorities: expanding in key geographic markets Taking share in key geographic markets Strong signings activity in HY 2026 supports future market share gains across key geographic markets We are taking share of future supply relative to our six global peers1 in most of our key
Slide 37: System growth
Progress on strategic priorities: expanding in key geographic markets System growth The strength of IHG’s brand portfolio and expansion in priority growth geographies are fuelling strong gross openings and higher net system growth Stronger gross openings and lower removals... … are driving higher ne
Slide 38: System size as at 30 September 2026
Progress on strategic priorities: expanding in key geographic markets System size as at 30 September 2026 By sub-region Other LATAM and Caribbean Mexico HK / Macau / Taiwan 4% 6% East Asia & Pacific 6% Canada UK 24% Tier 1 5% 18% 19% Tier 4 18% Tier 3 10% India, Middle East, Rest of Europe United St
Slide 39: Developing our leading technology and enterprise platform
IHG’s areas of focus Developing our leading technology and enterprise platform C 39
Slide 40: IHG's industry-leading connected technology ecosystem
Progress on strategic priorities: developing our leading technology and enterprise platform IHG’s industry-leading connected technology ecosystem Our interconnected, cloud-based solutions deliver competitive advantages to our 7,100+ hotels Promote Optimise Engage hotels operations guests Award-winni
Slide 41: Artificial Intelligence
Progress on strategic priorities: developing our leading technology and enterprise platform Artificial Intelligence Weaving AI throughout IHG’s industry-leading enterprise platform to support the delivery of our growth algorithm Content platform AI trip planning AI-powered Guest CRM Guest acquisitio
Slide 42: Guest Acquisition & Loyalty: AI-enabled trip planning
Progress on strategic priorities: developing our leading technology and enterprise platform Guest Acquisition & Loyalty: AI-enabled trip planning Creating new ways for guests to discover and book our hotels with the launch of conversational search capabilities on IHG’s app and websites and a new Cha
Slide 43: Guest Acquisition & Loyalty: enhancing discoverability and engagement
Progress on strategic priorities: developing our leading technology and enterprise platform Guest Acquisition & Loyalty: enhancing discoverability and engagement Our new content platform ensures the right hotel is recommended to fit a guest’s needs; our new CRM enables even more personalized experie
Slide 44: New digital content platform
Progress on strategic priorities: developing our leading technology and enterprise platform Promote New digital content platform AI Enhanced Showcasing the breadth and depth of properties in a modern way Easy inputs Videos, floorplans, VR & more Timeline Build and test new platform Roll out and cont
Slide 45: Powerful loyalty programme is driving enterprise contribution
Progress on strategic priorities: developing our leading technology and enterprise platform Powerful loyalty programme is driving enterprise contribution IHG One Rewards has rapidly grown to >160 million loyalty members that are ~10x more likely to book direct and spend ~20% more than non-members Lo
Slide 46: Driving ancillary fee streams
IHG’s areas of focus Driving ancillary fee streams C 46
Slide 47: Ancillary fee streams
Progress on strategic priorities: driving ancillary fee streams Ancillary fee streams Leveraging the strength of our enterprise platform to drive high margin, high growth ancillary fees while further diversifying our revenue mix Co-brand cards Loyalty point sales Branded residential US partnership w
Slide 48: Appendices
Appendices C 48
Slide 49: Appendices HY 2026
Appendices HY 2026 C 49
Slide 50: HY 2026 overview
Appendices: HY 2026 overview HY 2026 Strong performance with EBIT¹ +10% and Adjusted EPS¹ +13%; record organic development activity; on track to return $1.2bn+ to shareholders; confident in long-term growth drivers RevPAR System Size Profit and Earnings Capital Returns +4.1% H1 global RevPAR 1,0
Slide 51: Revenue and operating profit breakdown
Appendices: revenue and operating profit Revenue and operating profit breakdown Results from reportable segments HY 2026 HY 2025 ‘26 vs ’25 ‘26 vs ‘25 $ change % change Franchise and base management fees $707m $665m $42m 6% Incentive management fees $86m $85m $1m 1% Central revenue $178m $158m $20m
Slide 52: Revenue and operating profit 2022-2026
Appendices: HY 2026 Financial Performance Revenue and operating profit 2022-2026 Total Revenue Total Operating Profit¹ H1 FY H1 FY Actual US$ 2026 2025 2024 2023 2025 2024 2023 2022 2026 2025 2024 2023 2025 2024 2023 2022 Franchise and Base Management Fees 486 468 471 456 943 958 936 861 - - - - - -
Slide 53: HY 2026 underlying fee business revenue and operating profit non-GAAP reconciliations
Appendices: fee business revenue and operating profit HY 2026 underlying fee business revenue and operating profit non-GAAP reconciliations Americas EMEAA Greater China Central Total IHG Operating Operating Operating Operating Operating $m Revenue Profit Revenue Profit Revenue Profit Revenue Profit
Slide 54: HY 2025 underlying fee business revenue and operating profit non-GAAP reconciliations
Appendices: fee business revenue and operating profit HY 2025 underlying fee business revenue and operating profit non-GAAP reconciliations Americas EMEAA Greater China Central Total IHG Operating Operating Operating Operating Operating $m Revenue Profit Revenue Profit Revenue Profit Revenue Loss Re
Slide 55: Revenue growth rate analysis HY 2026 vs HY 2025
Appendices: revenue growth Revenue growth rate analysis HY 2026 vs HY 2025 RevPAR growth % Net rooms growth % Underlying fee Comparable Total YOY Available revenue1 growth % All hotels that were open in either 2026 or 2025 (inc. new Hotels that have traded in all hotels that are ramping up, Aggregat
Slide 56: Americas highlights
Appendices: regional highlights Americas highlights Trading performance – HY RevPAR up +4.8%, with occupancy of 68.2% up +1.0%pts and rate +3.3% higher – Q2 RevPAR up +5.4%, with occupancy of 72.4% up +0.8%pts and rate +4.2% higher – Fee margin1 84.2% (HY25: 82.7%); $7m IMFs (HY25: $7m) – Operating
Slide 57: EMEAA highlights
Appendices: regional highlights EMEAA highlights Trading performance – HY RevPAR up +3.0%, with occupancy of 69.7% up +0.8%pts and rate +1.8% higher – Q2 RevPAR up +0.6%, with occupancy of 71.6% down (0.6)%pts and rate +1.6% higher – Fee margin1 69.8% (HY25: 65.8%); $60m IMFs (HY25: $62m) – Operatin
Slide 58: Greater China highlights
Appendices: regional highlights Greater China highlights Trading performance – HY RevPAR up +3.1%, with occupancy of 56.9% up +1.1%pts and rate +1.0% higher – Q2 RevPAR up +0.8%, with occupancy of 59.9% up +0.4%pts and rate +0.2% higher – Fee margin1 62.5% (HY25: 57.9%); $19m IMFs (HY25: $16m) – Ope
Slide 59: Demand drivers of rooms revenue performance
Appendices: demand drivers Demand drivers of rooms revenue performance 1 IHG Global demand drivers (HY YOY) AMER demand drivers (HY YOY) +11% +10% +8% +9% +6% +6% +4% +3% +4% +4% +3% +3% +3% +3% +2% +2% +2% +3% Q1 Q2 HY Q1 Q2 HY Q1 Q2 HY Q1 Q2 HY Q1 Q2 HY Q1 Q2 HY Business Leisure Groups Business Le
Slide 60: Net system size growth delivered through strength of brands and enterprise platform
Appendices: system growth Net system size growth delivered through strength of brands and enterprise platform HY YTD Net System Size Growth (‘000s) TOTAL IHG AMER (8.9) (5.8) 8.0 31.5 1,048.7 531.4 529.2 1,026.2 FY 2025 Openings Exits HY 2026 FY 2025 Openings Exits HY 2026 EMEAA Greater China (1.1)
Slide 61: Net system size growth delivered through strength of brands and enterprise platform
Appendices: system growth Net system size growth delivered through strength of brands and enterprise platform HY YOY Net System Size Growth (‘000s) TOTAL IHG AMER (15.1) (8.3) 65.2 1,048.7 17.4 531.4 998.6 522.3 HY 2025 Openings Exits HY 2026 HY 2025 Openings Exits HY 2026 EMEAA Greater China (2.9)
Slide 62: IHG typically converts ~100% of earnings into free cash
Appendices: cash conversion IHG typically converts ~100% of earnings into free cash 1,000 250% 800 200% 600 150% 400 100% 200 50% 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Adjusted Free Cash Flow Adjusted Earnings Conversion Rate (%) From 2016 to 2025 cumulatively, >100% of IHG’s adjust
Slide 63: Strategic capital expenditure deployment
Appendices: capital expenditure Strategic capital expenditure deployment Gross capex spend System Fund and maintenance ($m) expenditure formed the majority of 400 IHG’s capex historically 350 With the completion of GRS, the 300 reduction in IHG’s O&L estate, and the increasing utilisation of Saa
Slide 64: Our asset light business delivers compound growth
Appendices: capital expenditure Our asset light business delivers compound growth that is accelerating while still requiring only limited capital expenditure Gross and net capex versus progression of fee business revenue and profit ($m) Fee business revenue IHG’s asset-light model delivers 2000 20
Slide 65: Currency impacts
Appendices: currency impacts Currency impacts ($m) Reported HY26 1 Revenue HY26 at HY25 AER2,3 Var. Americas 584 581 3 EMEAA 391 383 8 Greater China 88 84 4 Central4 192 190 2 Total IHG 1,255 1,238 17 Operating Profit1 Americas 442 440 2 EMEAA 141 139 2 Greater China 55 53 2 Central4 27 27 - Total I
Slide 66: Ordinary shares
Appendices: ordinary shares Ordinary shares Number of shares (m) HY 2026 HY 2025 Opening balance at 1 January 157.1 164.7 Closing balance at 30 June 154.4 160.9 Closing balance excluding treasury1, ESOT and forfeitable shares 149.0 154.4 Basic weighted average shares (excluding treasury, ESOT and fo
Slide 67: Appendices FY 2025
Appendices FY 2025 C 67
Slide 68: FY 2025 overview
Appendices: FY 2025 overview FY 2025 Excellent financial performance with EBIT +13% and Adjusted EPS +16%; record hotel openings; $1.1bn+ returned to shareholders; confident in long-term growth drivers RevPAR System Size Profit and Earnings Capital Returns +1.5% FY global RevPAR 1,026k rooms (6,
Slide 69: Revenue and operating profit breakdown
Appendices: revenue and operating profit Revenue and operating profit breakdown Results from reportable segments FY 2025 FY 2024 ‘25 vs ’24 ‘25 vs ‘24 $ change % change Franchise and base management fees $1,371m $1,357m $14m 1% Incentive management fees $190m $178m $12m 7% Central revenue $336m $239
Slide 70: Revenue and operating profit 2023-2025 (post-IFRS 17)
Appendices: revenue and operating profit Revenue and operating profit 2023-2025 (post-IFRS 17) Total Revenue Total Operating Profit¹ FY FY Actual ($m) 2025 2024 2023 2025 2024 2023 Franchise and Base Management Fees 943 958 936 - - - Incentive Management Fees 20 21 21 - - - Fee Business 963 979 957
Slide 71: Revenue and operating profit 2019-2022 (pre-IFRS 17)
Appendices: revenue and operating profit Revenue and operating profit 2019-2022 (pre-IFRS 17) Total Revenue Total Operating Profit¹ Actual ($m) FY 2022 FY 2021 FY 2020 FY 2019 FY 2022 FY 2021 FY 2020 FY 2019 Franchise and Base Management Fees 861 683 452 840 - - - - Incentive Management Fees 18 8 5
Slide 72: FY 2025 underlying fee business revenue and operating profit non-GAAP reconciliations
Appendices: fee business revenue and operating profit FY 2025 underlying fee business revenue and operating profit non-GAAP reconciliations Americas EMEAA Greater China Central Total IHG Operating Operating Operating Operating Operating $m Revenue Profit Revenue Profit Revenue Profit Revenue Profit
Slide 73: FY 2024 underlying fee business revenue and operating profit non-GAAP reconciliations
Appendices: fee business revenue and operating profit FY 2024 underlying fee business revenue and operating profit non-GAAP reconciliations Americas EMEAA Greater China Central Total IHG Operating Operating Operating Operating Operating $m Revenue Profit Revenue Profit Revenue Profit Revenue Loss Re
Slide 74: Currency impacts
Appendices: currency impacts Currency impacts ($m) Reported FY24 Reported FY25 Revenue1 FY24 at FY25 AER2,3 Var. FY25 at FY24 AER2,3 Var. Americas 1,141 1,138 (3) 1,129 1,131 (2) EMEAA 748 767 19 811 790 21 Greater China 161 161 - 165 165 - Central4 262 263 1 363 362 1 Total IHG 2,312 2,329 17 2,468
Slide 75: Revenue growth rate analysis FY 2025 vs FY 2024
Appendices: revenue growth Revenue growth rate analysis FY 2025 vs FY 2024 RevPAR growth % Net rooms growth % Underlying fee revenue1 Comparable Total YOY Available growth % Comments All hotels that were open in either 2024 or 2025 (incl. new Hotels that have hotels that are Aggregate number traded
Slide 76: Americas highlights
Appendices: regional highlights Americas highlights Trading performance – FY RevPAR up +0.3%, with occupancy of 68.0% down (0.1)%pt and rate +0.5% higher – Q4 RevPAR down (1.4)%, with occupancy of 64.4% down (0.9)%pts and rate down (0.1)% – Fee margin1 83.4% (81.2% FY24); $20m IMFs ($21m FY24) – Ope
Slide 77: EMEAA highlights
Appendices: regional highlights EMEAA highlights Trading performance – FY RevPAR up +4.6%, with occupancy of 72.7% up +1.6%pts and rate +2.4% higher – Q4 RevPAR up +7.1%, with occupancy of 75.2% up +2.7%pts and rate +3.3% higher – Fee margin1 67.4% (65.3% FY24); $134m IMFs ($118m FY24) – Operating p
Slide 78: Greater China highlights
Appendices: regional highlights Greater China highlights Trading performance – FY RevPAR down -1.6%, with occupancy of 59.7% up +0.5%pts and rate (2.4)% lower – Q4 RevPAR up +1.1%, with occupancy of 60.6% up +0.5%pts and rate +0.3% higher – Fee margin1 60.0% (60.9% FY24); $36m IMFs ($39m FY24) – Ope
Slide 79: Demand drivers of rooms revenue performance
Appendices: demand drivers Demand drivers of rooms revenue performance 1 IHG Global demand drivers (FY YOY) Americas demand drivers (FY YOY) +7% +6% +4% +3% +3% +3% +2% +2% +3% +2% +2% +2% +2% +1% +1% 0% 0% 0% 0% (1)% (1)% (2)% (1)% (1)% (3)% (2)% (3)% (4)% (4)% (7)% Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1
Slide 80: Net system growth delivered through strength of brands and enterprise platform
Appendices: net system growth Net system growth delivered through strength of brands and enterprise platform FY YOY Reported Net System Growth (‘000s) TOTAL IHG AMER (26.0) 65.1 18.8 (17.6) 1,026.2 987.1 528.0 529.2 FY 2024 Openings Exits FY 2025 FY 2024 Openings Exits FY 2025 EMEAA Greater China (5
Slide 81: Ordinary shares
Appendices: ordinary shares Ordinary shares Number of shares (m) FY 2025 FY 2024 Opening balance at 1 January 164.7 172.3 Closing balance at 31 December 157.1 164.7 Closing balance excluding treasury1, ESOT and forfeitable shares 150.6 157.4 Basic weighted average shares (excluding treasury, ESOT an
Slide 82: IHG typically converts ~100% of earnings into free cash
Appendices: cash conversion IHG typically converts ~100% of earnings into free cash 1,000 250% 800 200% 600 150% 400 100% 200 50% 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Adjusted Free Cash Flow Adjusted Earnings Conversion Rate (%) From 2016 to 2025 cumulatively, >100% of IHG’s adjust
InterContinental Hotels Group — Investor Presentation (November 2026) on 6ix