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InterContinental Hotels Group PLC Board Appointment; Reveals Third Quarter Results

Friday, October 20, 2017
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IHG
IHG

InterContinental Hotels Group today announces that Elie Maalouf, IHG’s Chief Executive Officer for the Americas, is to be appointed as an Executive Director. He will join the IHG Board, with effect from 1st January, 2018.

Elie has been a member of IHG’s Executive Committee, since joining the company in February, 2015. In his role as Chief Executive Officer, the Americas, Elie is responsible for the management, growth and profitability of IHG’s largest operating region, and he recently led the launch of the company’s new US midscale brand, avid™ hotels. IHG’s Americas region includes nearly 4,000 hotels and resorts, across a broad portfolio of brands, spanning the United States, Canada, Mexico, Central and South America, and the Caribbean, with almost 1,000 hotels in its development pipeline.

Patrick Cescau, Non-Executive Chairman, IHG, commented: “I am delighted to welcome Elie Maalouf to the IHG Board. He is a talented leader, with substantial and highly relevant commercial and hotel development, branding, finance, real estate and operations experience, across multiple industries. This expertise, combined with Elie’s deep understanding of the global hospitality sector, will make him an excellent addition to the Board.”

Elie’s experience includes nearly 15 years at major global franchise and travel business, HMSHost Corporation, where he held roles as President and CEO and was a member of the board of directors. Before HMSHost, Elie spent eight years with Weyerhaeuser Real Estate Company. Before joining IHG, Elie was Senior Advisor with McKinsey & Company.

This morning, InterContinental Hotels Group (IHG) released our 2017 Q3 Trading Update. Results reflect good third quarter trading with net system size and RevPAR growth.

Global RevPAR was up 2.3%, with Americas RevPAR up .8%. Within the region, U.S. RevPAR was up .4%; solid performance in Canada and Latin America was reflected in RevPAR increases of 7.0% and 8.0% in these markets, respectively

We continue our focus on building and leveraging scale globally. Our total system size now sits at 786k rooms (5,272 hotels) – representing a net rooms growth of 4.1% YOY, the strongest growth since 2010. This period also saw the best Q3 for room openings since 2008, with 11k rooms. Strong pipeline activity continues to drive future growth; IHG’s pipeline increased to 235k rooms (1,553 hotels), with hotels signed into the pipeline at the fastest third quarter rate since 2008. Our share of the active global industry pipeline is three times our share of open rooms.

We continue to strengthen our portfolio of preferred brands and have also made an excellent start with our plans to accelerate the growth of our brands around the world.

• In September, we announced the official launch of our high-quality, new-build midscale brand, avid™ hotels. The avid hotels brand is already generating significant interest from owners, with more than 150 written expressions of interest and more than 50 applications in the first four weeks of franchise sales.
• Our strategy for taking Kimpton global is accelerating and we expect to secure representation for the brand in 10 major markets around the world by the end of the year. In fact, just this week we announced the first Kimpton signings for highly sought after locations in AMEA (Bali, Indonesia) and Greater China (Shanghai and Sanya Bay).
• We have further strengthened position in the fast-growing boutique segment by continuing to establish global scale for Hotel Indigo, reaching more than 163 open and pipeline properties.
• We’ve expanded the global footprint of the EVEN Hotels brand with launches in the AMEA and Greater China regions, including signings in Auckland, NZ, as well as Shanghai and Sanya Bay, China.
• As the leading global mainstream brand – twice the size of the nearest competitor – the Holiday Inn Brand Family remains IHG’s engine for growth. The 13k Holiday Inn Brand Family room signings in this quarter included a record Q3 for Holiday Inn Express, with particularly strong demand for the ‘Franchise Plus’ solution in Greater China.

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