London, May 18, 2026, 14:07 BST
InterContinental Hotels Group shares traded higher in London on Monday. The Holiday Inn owner stayed near its recent highs, with investors taking in news of a new buyback and watching for fallout from Middle East travel issues.
The stock traded at about $149.50, up 0.7%, giving it a $22.26 billion market cap. Shares stayed below the $152.00 high hit this year. The gain put the stock near the prices seen after the first-quarter trading update earlier this month. AJ Bell
Timing is key here since IHG is already buying back shares while the stock is strong. A buyback happens when a company buys its own shares. If those shares get cancelled, each remaining share is a bit bigger part of the company.
IHG said it bought 46,540 ordinary shares on May 15 through Goldman Sachs International at an average price of $148.0713 per share and will cancel them. The company had 149.75 million ordinary shares in issue after the buyback, not counting treasury shares, which are held by IHG itself. ACCESS Newswire
IHG’s London shares now trade in U.S. dollars instead of pounds after a currency switch that started Jan. 2. The company said this brings its London share price in line with its reporting currency, the dollar, but leaves both the London listing and New York ADR listing unchanged. InterContinental Hotels Group PLC
FTSE 100 traded up early Monday, but the FTSE 250 slipped as inflation and political worries kept pressure on the market. The overall UK market offered uneven support. Reuters
IHG’s recent trading is still the main driver. On May 7, the company reported a 4.4% rise in first-quarter global RevPAR. The Americas increased 3.6%, EMEAA climbed 5.6%, and Greater China rose 5.7%. IHG said it had finished $240 million of a $950 million buyback plan for 2026, bringing its share count down 1.1%. InterContinental Hotels Group PLC
IHG Chief Executive Elie Maalouf said the company had a “very strong Q1 trading performance,” citing strong demand in most areas and a wide geographic presence. Maalouf said impacts from Middle East conflict and travel disruptions should be “more than offset” by gains in other regions.
But there’s a risk the offset won’t last. Reuters said IHG’s Middle East RevPAR dropped 2% in the first quarter, a bigger fall than Hilton or Marriott. IHG also flagged that RevPAR in the region was down around 50% in April. AlphaValue’s Yi Zhong said IHG’s mid-scale brands appeal to value-focused leisure travelers, but its business travel could limit gains against rivals. Reuters
Pressure from higher oil prices and travel disruptions is also in play. Both could weigh on demand or lift costs if Middle East conflict continues. The hotel group traded close to a record high, so investors might not tolerate weaker results.
IHG is holding up as a travel stock, not just as a war hedge. CFO Michael Glover, speaking to analysts after the Q1 results, said the company was “not seeing an indication” that U.S. travelers were cancelling bookings due to higher gas prices.
The key points for IHG in the coming sessions are if shares can stay around $150 and if the buybacks will keep supporting the stock while investors wait for more signs on summer travel demand.
