InterContinental Hotels Group PLC

InterContinental Hotels Group is a hotel companies. Co.'s hotel brands are InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, Hualuxe Hotels & Resorts, Hotel Indigo, EVEN Hotels, Crowne Plaza Hotels & Resorts, Holiday Inn, Holiday Inn Express, Staybridge Suites, Holiday Inn Club Vacations, Holiday Inn Resorts, Candlewood Suites, and Avid Hotels. As of Mar 2 2017, Co.'s had total hotels of 5,348 with 4,433 franchised, 907 managed, eight owned and leased hotels, and 1,655 total hotels in the pipeline.
  • TickerIHG
  • ISINGB00BHJYC057
  • ExchangeLondon Stock Exchange
  • SectorTravel & Leisure
  • CountryUnited Kingdom
Anthony Dick ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Johanna Jourdain
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 06/19/2020

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Alfred Glaser ...
  • Anthony Dick
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/19/2020

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Fehmi Ben Naamane ...
  • Johanna Jourdain

ODDO : RevPAR en baisse de 91% pour l’hôtellerie européenne en mai

>Revenus en baisse de 93% en moyenne - Les revenus moyens de l’hôtellerie de chaine sont en baisse de 93% yoy sur le mois de mai, soit une performance comparable à celle d’avril. Concernant les RevPAR, ils reculent de 91% (-93% en avril). Cette chute est tirée par la forte érosion des taux d’occupation à -86% (rappelons que les taux d’occupation se calculent en référence aux hôtels en opérations), et une baisse massive des prix moyens à -39%, soit des chiffres quasim...

Fehmi Ben Naamane ...
  • Johanna Jourdain

ODDO : RevPAR down 91% for European hotels in May

>Revenues down 93% on average - Average revenues for chain hotels saw a decline of 93% y-o-y in May, which is along the same lines as in April. RevPAR saw a fall of 91% (-93% in April). This slump was driven by a marked erosion in occupancy rates of -86% (note that occupancy rates are calculated in reference to hotels in operation), and a massive drop in average daily rates of -39%, which is broadly on a par with the figures for April. The occupancy rate...

Anthony Dick ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Johanna Jourdain
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 19/06/2020

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Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Not too bullish, not too bearish Despite several indexes recently touching new 52+ week highs, broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remain near logical resistance, and indicators continue to send mixed signals. As a result we are hesitant to get too bullish or bearish. Instead we want to focus on Sector/Group/industry themes where we bottoming price and RS, or attractive pullback opportunities within established price and RS uptrends. Below we highlight some of these themes along with indicators that support our overall constructive -- yet tempered -- outlook. • Positiv...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Anthony Dick ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Johanna Jourdain
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 06/19/2020

...

Alfred Glaser ...
  • Anthony Dick
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/19/2020

...

Fehmi Ben Naamane ...
  • Johanna Jourdain

ODDO : RevPAR en baisse de 91% pour l’hôtellerie européenne en mai

>Revenus en baisse de 93% en moyenne - Les revenus moyens de l’hôtellerie de chaine sont en baisse de 93% yoy sur le mois de mai, soit une performance comparable à celle d’avril. Concernant les RevPAR, ils reculent de 91% (-93% en avril). Cette chute est tirée par la forte érosion des taux d’occupation à -86% (rappelons que les taux d’occupation se calculent en référence aux hôtels en opérations), et une baisse massive des prix moyens à -39%, soit des chiffres quasim...

Fehmi Ben Naamane ...
  • Johanna Jourdain

ODDO : RevPAR down 91% for European hotels in May

>Revenues down 93% on average - Average revenues for chain hotels saw a decline of 93% y-o-y in May, which is along the same lines as in April. RevPAR saw a fall of 91% (-93% in April). This slump was driven by a marked erosion in occupancy rates of -86% (note that occupancy rates are calculated in reference to hotels in operation), and a massive drop in average daily rates of -39%, which is broadly on a par with the figures for April. The occupancy rate...

Anthony Dick ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Johanna Jourdain
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 19/06/2020

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/08/2020

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Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/05/2020

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Alexandre Iatrides ...
  • Bruno Cavalier
  • Fehmi Ben Naamane
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/23/2020

The fall in profits will be marked. The temptation to skip over 2020 and position on 2021 is a legitimate one. The recovery will likely reward, as in 2009, the leading sectors of the previous cycle (banking in 2009, technology, luxury goods, agri-foods at present). Watch out, though! The COVID-19 epidemic is primarily contributing to the acceleration of a new world, more local, less global, more digital and greener, but also carrying greater debt. This last point should favour liquidi...

Alexandre Iatrides ...
  • Bruno Cavalier
  • Fehmi Ben Naamane
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/03/2020

La baisse des profits sera forte. La tentation d’enjamber 2020 pour se positionner sur 2021 est légitime. Il parait probable que la reprise consacre, comme en 2009, les secteurs leaders du cycle précédent (bancaires en 2009, technologie, luxe, agro-alimentaire aujourd’hui). Mais attention ! L’épidémie de COVID-19 contribue surtout à accélérer l’émergence d’un monde nouveau plus local, moins global, plus numérisé, plus vert mais aussi nettement plus endetté. Ce dernier point devrait fa...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Jean Danjou
  • Johanna Jourdain
  • Martial Descoutures
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/17/2020

Applying basic assumptions related to the duration of total confinement measures (still to be taken in western countries) and the partial recovery of lost activity once the epidemic is behind us, we estimate that 2020 EPS will decline by 17% vs 2019. This variation is likely to be amplified as the duration of the confinement increases. Using the instantaneous cost of capital (11.35% at the time of writing), this yields a Stoxx 600 target of 256 points. Don’t catch a falling knife. - ...

Increased risk weighs on ICTL.HOTELS GROUP PLC., penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of ICTL.HOTELS GROUP PLC. (GB), active in the Hotels industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date May 15, 2020, the closing price was GBp 3,237.00 and its target price was estimated at GBp 2,706.77.

Expert Corporate Governance Service (ECGS)

Intercontinental Hotels – AGM 7 May 2020

Coronavirus (Covid-19) and impact on the Annual General Meeting (AGM)In line with the UK Government "Stay at Home"measures and to ensure shareholders'safety, they must not attend the AGM in person. The Company offers shareholders the opportunity to listen to the meeting via a listen-only audio conference. Accordingly, shareholders will not be able to vote or ask questions on the day of the AGM.   Under ITEM 2: the Company seeks shareholder approval of the new remuneration policy. The maximum LTI is 350% of base salary, exceeding our 150% limit and the maximum variable remuneration (both shor...

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