InterContinental Hotels Group PLC (IHG) announced on March 16, 2026 that it will repurchase ordinary shares through Goldman Sachs International. The transaction, authorized by shareholders at the May 8, 2025 annual general meeting, involved a purchase of shares at an average price of $129.80 per share, with a low of $128.80 and a high of $131.00, on March 13, 2026.
The repurchase is part of IHG’s broader capital‑return strategy. The company’s original $900 million buyback program, launched in February 2025, was 78 % complete by October 2025 after $700 million had been repurchased. In February 2026, IHG announced a new $950 million share‑buyback program to be completed by December 29, 2026, reflecting confidence that the shares are undervalued.
Financially, IHG delivered a strong 2025 year, with revenue rising to $5.19 billion from $4.92 billion in 2024, pretax profit increasing to $1.07 billion from $897 million, and diluted earnings per share climbing to 486.5 US cents from 385.3 cents. Fee‑business revenue grew to $1.90 billion, up from $1.77 billion, and the fee margin expanded to 64.8 % from 61.2 %.
Chief Executive Officer Elie Maalouf said, 'Supported by attractive long‑term industry demand drivers and our proven ability to capitalise on our scale and diverse fee streams across segments and geographies, we enter 2026 with confidence.' He added, 'First, we invest in the business… second, we maintain and grow the ordinary dividend… third, we return surplus capital to shareholders.'
The share repurchase reduces the number of shares outstanding, which can lift earnings per share and return capital directly to investors. It also signals management’s confidence in the company’s cash‑flow generation and its asset‑light model, which has delivered strong fee margins and growth across its hotel portfolio.
The announcement was met with a muted market reaction. Analysts viewed the buyback as an opportunistic move that underscores management’s belief in the share’s valuation, while also noting that the company’s strong financial performance and strategic focus on fee‑based growth support its long‑term outlook.
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