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Society beauty in £1 billion battle for ‘3 jewels of London’: Amanda Staveley joins Middle East investors ‘to bid for hotel group’: The Queen and Prince Philip have dined there and Winston Churchill was a regular guest. But now Claridge’s – and its sister landmark hotels – are at the centre of a bitter billion-pound ownership battle involving secretive billionaires, fallen Irish entrepreneurs and a blonde former model from Yorkshire.
French hotel giant Accor checks into U.K. property as rivals check out: French hotel giant Accor has bought 13 U.K. properties for €89 million (£71 million) as it breaks ranks with the popular “asset light strategy” pursued by most of its major rivals and seeks to buy up hotels it currently leases.
Lastminute up for sale as U.S. owner checks out: One of the best known British businesses of the original dotcom boom is to be put up for sale.
Hotel activity to hit new record high as investor appetite grows: Investors stepped up their spending on U.K. hotels in the first six months of the year as rising confidence and increased availability of debt helped boost activity in the sector.
HG shareholder pushes for tax inversion bid: Intercontinental Hotels Group (IHG) could become the latest target of a tax inversion deal after activist investor Marcato Capital confirmed is has hired investment bankers to explore options for the group.
Do your research and SELL or short the stock GLA
take over news by us?.http://www.ibtimes.co.uk/intercontinental-hotels-turns-down-6bn-takeover-bid-1450012
My Guess based on preliminary details is They announce $750 million special dividend in Q1 to be paid in July. My Guess is for 256.09 shares this equals $2,92 per share or roughly £1.75p per share. Also suggest consolidation is to be reported. ' Full details expected after AGM today The Annual General Meeting will be held at 11.00am (UK time) on Friday 2 May 2014 at InterContinental London Park Lane, One Hamilton Place, Park Lane, London W1J 7QY
So does anyone know about the rumour to sell off a quantity of the Holiday Inn hotels??
Positive Points: The Chief Executive noted that "forward bookings data is encouraging and we are confident that we will deliver another year of growth." RevPAR growth in all four of the group's regions was reported. Its Americas region achieved RevPAR growth of 4% in the fourth quarter. RevPAR growth of 6.4% was reported for its Asia, Middle East & Africa business. In Europe, for the first nine months RevPAR grew at 0.7%, and then accelerated sharply in the fourth quarter to 4.9%. For Greater China, Comparable RevPAR increased 1.0% over the year, with 2.4% growth in the fourth quarter. Asset disposals remain ongoing. The InterContinental London Park Lane sale was previously completed for $368 million, with a management contract secured for up to 60 years. The InterContinental Mark Hopkins, San Francisco Hotel disposal was announced with the results. It will raise gross cash proceeds of $120 million. A previously announced $500m share buyback programme is now 78% complete. The company continues to enjoy broad geographical diversification. The total dividend payment for the year was increased by 9% to 70 US cents. Management highlighted 11% compound annual growth in the payment since 2003.
Negative Points: Management outlook comments noted that "economic conditions in some markets remain uncertain." For the group's Greater China business, RevPAR growth of 1.0% was reported, a significant decrease on the 5.4% growth achieved in 2012. Chinese Gross Domestic Product (GDP) expansion for the October-December quarter came in at 7.7%, slowing from 7.8% in the previous three months. The 2013 China GDP figure was the same as that for 2012, which was the worst rate of growth since 1999. A macro or geopolitical shock would hit the hotel industry. The group is exposed to travel related security threats, which are impossible to predict. Overall group debt increased. Group net debt rose to $1.15 billion at the end of 2013, up from $1.07 billion at the end of 2012
Financial Highlights: Group revenue rose by 4% on a currency adjusted basis. Operating profit grew by 10% to $668 million. Group net debt rose to $1.15 billion from $1.07 billion. Total dividend payment for the year increased by 9% to 70 US cents. 11% compound annual growth since 2003.
Full year results: The figures materialised broadly in line with analyst forecasts, with the shares appearing to suffer a degree of profit taking in early trading (down over 4%) following a recent strong run - up nearly 10% in the last quarter compared to a flat FTSE-100 index. Exposure to growth regions such as the US and Asia again played its part, with key brands such as Holiday Inn once more contributing towards new hotel openings. Ongoing asset sales continued to underpin cash returns to shareholders, whilst management confidence in the outlook was reflected through a 9% hike in the dividend payment compared to 2012. On the downside, and despite a fourth quarter improvement, concerns regarding the group's Greater China region persist - 2013 Revenue Per Available Room (RevPAR) growth of 1.0% was reported, a significant fall on the 5.4% growth achieved in 2012. Furthermore, group net debt, if only marginally, increased, whilst broader concerns for the rebalancing of the global economy and its impact on the group's perceived cyclical status remain. In all, InterContinental continues to please. An asset light strategy has underwritten significant returns of cash, whilst a bias towards the US and Asia has helped to insulate it from challenges in Europe. In addition, fourth quarter (RevPAR) growth in Europe accelerated, whilst the credit crisis itself has arguably fortified the group's position in recent years, making it more difficult for entrants and smaller rivals to borrow and compete
A cheery update from Intercontinental Hotels Group (IHG) showed revenue per available room (RevPAR), a key metric rose by 5.2% in 2012 with operating profits also 10% higher, but even for hotel groups it often better to travel than to arrive, and in IHG’s case the news put the brakes on the recent relentless bull run.
InterContinental Hotels Group: Citigroup increases target price from 1900p to 2200p retaining its buy recommendation.
Heaven only knows why you are publishing all of this - no one is reading it. Sometimes, it would be better to give a concise opinion rather than swathes of text. That's not to say you are not proffering a useful service. But the format can do with some pruning. Good day.
InterContinental Hotels Group: Morgan Stanley raises target price from 1850p to 2200p keeping an overweight rating. Exane BNP ups target price from 1900p to 2100p, while leaving its outperform rating unchanged.
IHG's figures yesterday nevertheless suggest that the group is moving ahead on all the relevant metrics. Revenues per room were up 5.2 per cent, both the United States and China doing better than the average despite some fourth-quarter underperformance in the latter because of the change of leadership in Beijing and a dispute with Japan. The positive trends continued into January, although there was an extra kick-up in China from the timing of the New Year. Long-term prospects, in terms of the growth of emerging markets, are there. But until financing comes back into the global hotel market, growth in net rooms will be constrained at 2 to 3 per cent a year. On just under 20 times' this year's earnings, the shares look up with events. Hold, says The Times's Tempus.
Since the company decided to sell its estate of hotels to concentrate on managing them InterContinental Hotels Group (IHG) has returned 9 billion dollars to shareholders. The idea was that a hotels manager did not actually need to own the property. The above numbers suggest that was right. But the well is about to run dry. IHG has two more properties going through the sale process, on London's Park Lane and in New York, this last delayed when a buyer dropped out.
Positive Points: The Chief Executive noted that "2012 was another year of significant progress for IHG with our preferred brands driving RevPAR up 5.2%, led by the US up 6.3%." The board noted that "the 16% increase in our dividend demonstrates the confidence we have in our ability to deliver sustained high quality growth." The dividend policy remains progressive. With regard to current trading, January global RevPAR was up 6.6%. Greater China grew by 21.0%, although this principally reflected the shift in timing of the Chinese New Year. New hotels continue to be opened. During 2012, the number of hotels and rooms which were franchised, managed, owned or leased by the group increased by 122 hotels (17,634 rooms). $500m was returned to shareholders in October (2012) via a special dividend. A further $500m share buyback programme commenced in Q4 2012. Discussions regarding the disposal of certain InterContinental hotels continue. A strong focus on costs remains. The company continues to enjoy broad geographical diversification. The Emerging Markets remain a focus of growth. The company continues to build on its leading position in Greater China. It opened 8,000 rooms in the year, taking its system size in the region up 12% to 62,000, its 7th consecutive year of double digit room growth
Negative Points: Potential US government spending cuts provide uncertainty. Combined with a recent tax increase, any cuts could undermine both corporate and consumer confidence going forward. Its Americas region generated over 45% of group revenue and over 75% of operating profit. Overall Revenue per available room (RevPAR) declined from 6.2% in 2011 to 5.2% in 2012. Trading for its European operations remained more challenging than other regions - RevPAR rose by 1.7% compared with 6.1% for its Americas region. The hotel and travel industry remains vulnerable to geopolitical shocks, natural disasters, terrorism and health scares such as the Sars Virus. The group's plans for expansion in China could be thwarted if there is a downturn in the country's economy. Broader aggressive industry expansion in China continues to fuel potential overcapacity concerns.
Financial Highlights: Group revenues rose by 4% to $1.83 billion Operating profit increased by 10% to $614 million The total dividend for the year was raised by 16% compared to the prior year
Full year results: The results proved to be broadly in line with analyst forecasts, with the share price appearing to suffer a degree of profit taking - down over 3% in opening trade - following a recent strong run. The share price was up over 25% in the last quarter alone, compared to a 10% rise in the FTSE-100 index over the same period (as of 19Feb2013). Exposure to growth regions such as the US and Asia again played its part, with focus brands such as Holiday Inn underwriting momentum in new hotel openings. Ongoing asset sales underpinned cash returns to shareholders, whilst management's confidence in the outlook was reflected in a 16% hike in the dividend payment compared to the prior year. On the downside, potential US government spending cuts currently overshadow by far and away its biggest regional market (over 45% of group revenues - the US), whilst broader concerns for the rebalancing of the global economy and current anemic growth niggle at the company's perceived cyclical status going forward. In all, InterContinental continues to please. An asset light strategy has underwritten significant returns of cash, whilst a bias towards the US and China have helped insulate it from challenges in Europe. Furthermore, the credit crisis itself has arguably fortified the group's position, making it more difficult for entrants and smaller rivals to borrow and compete.
At £20 a pop, this is over priced (to put it mildly). Speculators pushing this one up. I would buy at £15, not at these prices. - Disclosure, not invested here. It's a good business, but only worth buying into at the right price.
InterContinental Hotels Group: JP Morgan ups target price from 1650p to 1820p, while reiterating a neutral rating.