Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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"Compared with vaguely positive comments from one or two of its rivals, yesterday’s third-quarter trading update from InterContinental Hotels Group (IHG) looked rather downbeat. Third-quarter numbers beat consensus forecasts but the tone of the comments sent the shares down 17½p to 825p. The economic picture remains hard to call but IHG’s strong brands and US exposure should enable it to prosper when a recovery ensues. Despite a full-looking multiple of 18 times 2010 earnings, hold on, says the Times."
Any fresh thoughts on recovery now?
Hotel group Intercontinental held its interim dividend despite a tough first half that saw revenues tumble and the group post a loss after one-off items.
IHG profit slump could reach 40% but still room for manoeuvre. http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6789272.ece
"Broker Charles Stanley expects Intercontinental Hotels report a very weak set of interim results, reflecting tough conditions in the global hotels industry and high operational gearing. it expects global constant currency revenue per room to be down by 14%. The broker expects profits will fall to $135m from $232m, with a maintained dividend of 12.2c."
There are some compelling reasons to invest in Intercontinental Hotels. The group, which owns Holiday Inn, is the world's biggest operator of mid-scale hotels. It has a $1bn marketing budget, which helps, as does the company's strong balance sheet and pipeline of 1,700 new hotels. But its market has not yet returned to health and there is more pain to come first. Avoid says the Independent.
"This is supported by our analysis of the early 1990's where the relative share prices of hotel groups on both sides of the Atlantic lagged rather than led economic recovery," Teathers said. Intercontinental shares finished 12.25p higher at 487.25p."
Holiday Inn owner InterContinental Hotels warned investors that it has seen a sharp deterioration in fourth quarter trading. Revenue per available room (RevPAR) for all its brands at constant currency advanced by just 0.9% for the full-year to 31st December and dropped by 12.2% in January. January RevPAR was down 11.7% in the Americas, down 11.8% in EMEA and 14.8% lower in Asia Pacific. Moreover, forward bookings data shows no sign of improvement in levels of demand. The board has proposed a final dividend per share of 20.2p. "The sharp deterioration that we reported on last November has continued into 2009 and we see no signs of improvement at this stage," said chief executive Andrew Cosslett. "It has been clear for some time that 2009 will be a challenging year and we have taken action to prepare the business, including strict management of cash and a significant reduction in costs," he added. Broker Teathers reiterated its 'reduce' rating for the shares and said earnings before interest, tax and amortisation were in line at 535 million dollars while earnings per share were 4% ahead of the broker's forecasts thanks to lower interest charges and a lower tax rate. Net debt of 1,273 million dollars, down by 386 million dollars during the year, was lower than Teathers had been anticipating. In conclusion, the broker said it expects 2010 to be another down year for the hotel trade and believes it is too early to buy into hotel stocks as recovery plays."
I"nterContinental Hotels (IHG), the Holiday Inn and Crowne Plaza hotel chain operator, warned that it has seen a sharp deterioration in fourth quarter trading. Revenue per available room (RevPAR) for all its brands at constant currency was up by 0.9% in the full-year ended 31 December, but dropped by 12.2% in January."
In recessionary times one of the first things companies cut back on is travel allowances, and this spells bad news for InterContinental Hotels (IHG), the Holiday Inn and Crowne Plaza hotel chain operator, which declares full-year results on Tuesday. Tourism spending is also suffering as a result of the recession, and although IHG is expected to achieve a commendable 53% increase in earnings per share over 2007’s performance, analysts have been shifting their earnings forecasts down to take into account weaker trends in the fourth quarter. IHG reported last year that global revenue per available room (RevPAR) declined 4.5% in October while US RevPAR dipped 5.7%, reversing the growth trend seen in the third quarter. Expectations are for profit before tax of £285.26 on revenue of £1,301m. The full year dividend is expected to be 26.98p, which would make the yield around 4.7% at IHG’s current price."
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article5733733.ece
could anyone explain brefly why intercontinental hotels share price fall a lot in november 2007. thanks. need it immediately
SP down today, comment on Working Lunch that this is a prospective takeover target. When asked, the commentator said 'defintely'. Keep an eye on it...