IHG - InterContinental Hotels Group PLC (IHG) Q3 2023 Earnings Call Transcript
2024-02-20 10:44:03 ET
InterContinental Hotels Group PLC. (IHG)
Q3 2023 Earnings Conference Call
February 20, 2024, 07:00 AM ET
Company Participants
Stuart Ford - Head of Investor Relations at IHG Hotels & Resorts
Elie Maalouf - Group Chief Executive Officer
Michael Glover - Chief Financial Officer
Conference Call Participants
Presentation
Stuart Ford
Hello and welcome to IHG’s 2023 full year results presentation. I’m Stuart Ford, Head of Investor Relations at IHG Hotels & Resorts, and shortly you will be hearing from Elie Maalouf, our Chief Executive Officer, and Michael Glover, our Chief Financial Officer. Before we proceed, I am obliged to remind all viewers that the company may make certain forward-looking statements as defined under U.S. law. Please refer to the accompanying full year results announcement and the company’s SEC filings for factors that could lead actual results to differ materially from those expressed in, or implied by, any such forward-looking statements. The results release, together with the usual supplementary data pack, as well as the presentation slides accompanying this webcast, can all be downloaded from the ‘results and presentations’ section under the investors tab on IHGplc.com.
Now over to Elie.
Elie Maalouf
Hello and welcome to IHG’s 2023 full-year results presentation. I’m Elie Maalouf, Chief Executive Officer of IHG Hotels & Resorts. I was honoured to take on this role in July 2023, and to now be presenting my first set of annual results. Our results presentation follows a slightly different format this year, as we are holding a separate live webcast and Q&A session to talk about IHG’s update on strategic priorities. All material background for that update is contained in the full year results announcement that we have released. This webcast that you are currently watching is specifically to cover the performance in 2023. In a moment, Michael Glover will talk you through our financial results, but before that, let me share some key highlights.
We saw excellent progress in 2023, with key metrics for our trading performance, hotel openings and signings, profit and earnings all significantly ahead of last year. RevPAR improved significantly, up 16% versus 2022, and up 11% versus 2019. Despite tougher comparable as we progressed through the year, Q4 RevPAR still finished up 8% year-on-year, and up 13% versus 2019....
InterContinental Hotels Group PLC (IHG) Q3 2023 Earnings Call Transcript