London, July 4, 2026, 21:02 BST
- Shares of InterContinental Hotels Group PLC (LON:IHG) lost 2.3% last week. The FTSE 100 (INDEXFTSE:UKX) rose 1.6% in the same period.
- Firms reported buybacks on 269,905 shares this week, worth roughly $46.3 million at listed average prices.
- U.S. hotel RevPAR rose 9.6% for the week ending June 27, according to CoStar Group Inc NASDAQ:CSGP data, boosted by World Cup traffic in Miami.
- LSEG shows IHG analyst targets with a median 12-month price of $155.50, about 7.2% under where shares finished on Friday.
InterContinental Hotels Group PLC (LON:IHG) fell last week, even as London’s main index moved higher. The stock stood out since its buyback was big relative to trading volumes in its U.S.-dollar shares.
Holiday Inn parent ended Friday at $167.55, down 1.1% for the session and off 2.3% from June 26. The FTSE 100 (INDEXFTSE:UKX) added 1.6% across that stretch, finishing Friday at 10,679.03. London equities were closed for the weekend at the dateline.
| Market check | IHG | FTSE 100 |
|---|---|---|
| Friday close | $167.55 | 10,679.03 |
| Friday move | fell 1.06% | up 0.25% |
| Week move vs June 26 close | down 2.3% | up 1.6% |
| IHG gap to June 25 year high | trading 4.6% below year high | — |
The less-watched number is scale. IHG put out five buyback notices this week totaling 269,905 shares, worth around $46.3 million. That worked out to roughly 13% of the 2.1 million IHG shares that traded from Monday through Friday. Even with that consistent buying, the stock lagged the index by nearly 4 points.
| Purchase date | Shares bought | Average paid | Implied spend |
|---|---|---|---|
| June 26 | 50,000 | $171.5806 | $8.6 mln |
| June 29 | 74,905 | $172.8874 | $13.0 mln |
| June 30 | 65,000 | $172.8097 | $11.2 mln |
| July 1 | 40,000 | $168.7425 | $6.7 mln |
| July 2 | 40,000 | $169.2905 | $6.8 mln |
| Week notices | 269,905 | — | $46.3 mln |
IHG’s buyback and capital returns don’t look new for investors. The shares trade at 34.88 times earnings with a $24.78 billion market cap, and a 1.09% yield, according to AJ Bell. LSEG data in Investors Chronicle had a $155.50 median 12-month target from 16 analysts, which is under Friday’s close.
New U.S. hotel figures put more weight behind the bulls. CoStar reported U.S. hotel RevPAR jumped 9.6% year over year for the week ending June 27, with average daily rate climbing 9.2%. RevPAR in Miami surged 51.6% as three World Cup games drove local demand higher.
IHG’s outlook is built off that data. CFO Michael Glover told Reuters in February, “We would expect the U.S. in the first quarter to be positive.” At that time, Reuters said IHG kicked off a $950 million buyback and put forward a 10% dividend hike after global room revenue for the quarter beat estimates. Reuters
IHG reported first-quarter RevPAR rose 4.4% in May. The Americas posted a 3.6% increase, EMEAA added 5.6%, and Greater China was up 5.7%. CEO Elie Maalouf said demand beat expectations in most regions. IHG also said it had finished $240 million of the 2026 buyback by May 7, cutting the share count by 1.1%.
China is now the key part of the story, not just the World Cup. IHG on July 2 said it plans to open more hotels in Greater China in the second half, targeting big cities, transport spots and leisure areas. Daniel Aylmer, CEO of IHG Greater China, called the region “one of the most important” for IHG. The company said it has more than 1,500 hotels either open or in the pipeline in over 200 cities in China. InterContinental Hotels Group PLC
IHG has opened a new 288-room dual-branded EVEN Hotel and Staybridge Suites near Universal Orlando Resort, Epic Universe and the Orange County Convention Center in the United States. Jen Gribble, IHG’s SVP for global marketing for premium, essentials and suites brands, said travelers want hotel stays to be “more flexible, more personalized.” InterContinental Hotels Group PLC
First up next week is the RNS feed. If IHG made the Friday buy, we’ll see if that 1.1% drop triggered the purchase and get the updated share count after cancellation.
