Richard Solomons on IHG’s Preliminary Results for the year to 31 December 2016

by | Mar 10, 2017 | Chains

IHG recorded operating profit of $707 million for 2016, up four per cent from $680 million last year. Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said:

“Our results clearly demonstrate our strong operational performance and the success of IHG’s long-term strategy, which have delivered a 9.5% increase in underlying profit and a 23% increase in underlying EPS. Our cash generative business model underpins our decision to announce a $400 million special dividend and to propose an 11% increase in the total dividend for the year.

We continued our focus on enhancing the long-term sustainability of our competitive advantage by evolving our brand portfolio and by driving innovation in our digital and loyalty offer. We rolled out new formats across our Holiday Inn Brand Family which deliver significant uplifts in guest satisfaction and improved returns for owners, built momentum for our HUALUXE and EVEN Hotels brands, and took Kimpton Hotels & Restaurants and Hotel Indigo into new markets. We also strengthened our loyalty proposition through initiatives including ‘Your Rate’ helping to drive a 16% increase in member enrolments.

The fundamentals for the hospitality industry remain compelling. Despite the uncertain environment in some markets, we remain confident in the outlook for the year ahead, as well as our ability to deliver sustainable growth into the future.”

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