InterContinental Hotels Group Announces Purchase of Own Shares

InterContinental Hotels Group (IHG) has recently made an intriguing move by purchasing a significant number of its own ordinary shares. The company acquired 16,189 shares through Goldman Sachs International (GSI) on the London Stock Exchange. This purchase was made in accordance with the authority granted by shareholders at IHG’s Annual General Meeting on May 3, 2024.

The shares were bought at prices ranging from £80.74 to £81.98 per share, with an average price of £81.50. IHG intends to cancel these purchased shares, which will result in a reduction of its total outstanding shares. Following this transaction, IHG will have 161,459,109 ordinary shares in circulation, excluding 7,006,782 shares held in treasury.

IHG’s decision to repurchase its own shares demonstrates the company’s confidence in its financial position and long-term prospects. By reducing the number of outstanding shares, IHG aims to enhance shareholder value and potentially increase earnings per share.

The company has provided a detailed breakdown of the individual purchases made by GSI on the London Stock Exchange, including the date, time, volume, and price of each transaction. This level of transparency showcases IHG’s commitment to maintaining open communication with its shareholders.

IHG is a leading global hotel company, known for its portfolio of well-known brands such as InterContinental, Crowne Plaza, Holiday Inn, and Kimpton. The company operates in over 100 countries and territories, offering a wide range of accommodation options to meet the needs of both business and leisure travelers.

For further information, investors can reach out to IHG’s Investor Relations team, represented by Stuart Ford (+44 (0)7823 828 739), Aleksandar Milenkovic (+44 (0)7469 905 720), and Joe Simpson (+44 (0)7976 862 072). Media inquiries can be directed to Mike Ward (+44 (0)7795 257 407).

IHG’s recent share repurchase activity reflects its commitment to creating long-term value for its shareholders. As the company continues to navigate the evolving hospitality landscape, this strategic move positions IHG for future growth and success.

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