- InterContinental Hotels Group
- 21 October 2024 14:31:33
Source: Sharecast
The markets have not heard from IHG since 6 August, but the share price has surged 17% since, so expectations are likely to be high going into Tuesday's announcement. The stock has gained around 50% over the past 12 months.
In the first half, revenues rose by 4% to $2.32bn, with revenue per available room (RevPAR) rising 3.0%.
Analysts at UBS expect IHG to report that RevPAR growth slowed slightly to 2.7% in the third quarter ended 30 September, down from 3.2% in the second, though consensus forecasts have pencilled in just 2.1% growth.
Unsurprisingly, UBS predicts that conditions in China will have worsened, with RevPAR falling 9%, after dropping 7% in the second quarter. RevPAR growth in the Americas is also expected to have slowed to 2.25% from 3.3%, but EMEA RevPAR growth should have held relatively stable 6%, down from 6.3% in the second quarter, UBS said.
Also on Tuesday, investors will also be keeping a close eye on the International Monetary Fund and World Bank's annual meetings in Washington D.C, where the heads of the Bank of England and European Central Bank are due to speak.
While both are unlikely to reveal anything new, outlook statements regarding inflation and economic growth will be watched closely for indications about how monetary policy may pan out before the end of the year.
Tuesday 22 October
INTERIM DIVIDEND PAYMENT DATE
Central Asia Metals
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Existing Home Sales (US) (15:00)
GMS
Atrato Onsite Energy
FINALS
Aptamer Group, Nanoco Group, The Revel Collective, Virgin Wines UK
ANNUAL REPORT
Petra Diamonds Ltd.(DI), Virgin Wines UK
SPECIAL DIVIDEND PAYMENT DATE
SLF Realisation Fund Limited C Shs NPV, SLF Realisation Fund Limited NPV
AGMS
Hargreaves Lansdown, Newmark Security PLC
TRADING ANNOUNCEMENTS
Gear4music (Holdings), InterContinental Hotels Group, Sosandar, System1 Group
UK ECONOMIC ANNOUNCEMENTS
Public Sector Net Borrowing (07:00)
Q1
Petra Diamonds Ltd.(DI)