Intercontinental Hotels : H1 2020 results undershoot our expectations but reassuring comments on cash position and very early signs of improvement in the business
>H1 2020 results below our estimates, RevPAR low point at -75% in Q2 - IHG has reported H1 2020 revenues of $ 488m (-52% reported), 15% below our estimate of $ 574m. The decline in RevPAR was -51.7% (ODDO BHF -52%e), which suggests a low point at -74.7% reached in Q2 (ODDO BHF -75%e), in line with figures of its pre-close trading update released end-June (H1 RevPAR at -52% o/w -75% in Q2) and after -25% in Q1. Underlying EBIT totalled $ 74m, 6% below our forecast of...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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