Holiday Inn-owner IHG falls as investors cash in after strong YTD gains
Today 08:41
BUZZ-Holiday Inn-owner IHG falls as investors cash in after strong YTD gains ** Shares of InterContinental Hotels Group IHG.L down 3% at $165.2
** IHG has risen ~18% YTD against the ~5% gains of the FTSE 350 travel and leisure index .FTNMX405010** The Holiday Inn-owner's preliminary forecast sees 2027 adjusted interest expense rising $40 million to $60 million on top of the $230 million to $240 million range expected for 2026
** "Given IHG’s strong YTD outperformance, a modest FY 27 downgrade driven by interest expense, and some market concerns around Kingdom of Saudi Arabia/Middle East, we would expect the shares to trade modestly lower today on profit-taking" - JP Morgan
** IHG's Q3 revenue per available room grew 5.3%, as steady growth in the US outweighed China softness
(Reporting by Yamini Kalia in Bengaluru)
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