InterContinental Hotels Group (IHG) shares dipped this morning despite a $750 million buyback, as trading returned to pre-pandemic levels in London but CFO Paul Edgecliffe-Johnson said there was still more recovery to come in the capital.
The business rebounded from the pandemic with $1.83 billion in revenue, though this was towards the lower end of analysts’ expectations. Of this total, $1.45 billion came from its fee business, made up of franchised hotels from its brands such as Holiday Inn, Kimpton and the InterContinental.
