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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
InterContinental Hotels Group
InterContinental Hotels Group (IHG) investor relations material
InterContinental Hotels Group Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary22 Oct, 2026
Executive summary
Q3 global RevPAR grew 5.3%; YTD growth was 4.6% at CER and 5.7% at AER, with rate and occupancy contributing.
Net system growth reached 4.9% YoY; 2026 is expected to be the fifth consecutive year of accelerating net growth.
FY26 consensus expectations remain achievable; stronger Q3 trading may lift consensus modestly, with RevPAR gains expected to flow through to EBIT and EPS.
Financial highlights
Q3 ADR rose 3.9% and occupancy increased 0.9 percentage points; comparable rooms revenue grew 10% for Groups, 5% for Leisure and 4% for Business.
Current FY26 consensus: global RevPAR growth 3.5%, net system growth 4.8% and EPS of $5.79; Q3 outperformance may lift earnings modestly.
Medium-to-long-term targets average high-single-digit annual fee revenue growth, ~10% EBIT growth and 12%-15% adjusted EPS growth; FY26 adjusted EPS growth expected at the upper end of the range.
Outlook and guidance
FY26 consensus expectations are considered achievable; Q4 is expected to be a seasonally strong openings quarter, and no ceiling was placed on net system growth.
FY26 adjusted interest expense is expected at $230m-$240m; 2027 adjusted interest expense is expected to increase $40m-$60m pre-tax, without changing the EPS growth algorithm.
China Q4 is expected to be better than Q3, with positive FY26 RevPAR; no specific Q4 or 2027 guidance was given.
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Latest events from InterContinental Hotels Group
- Adjusted EPS up 13% and record hotel development drive strong H1 2026 results.IHG
H1 2026 - EBIT up 10%, adjusted EPS up 13%, RevPAR up 4.1%, and record development drive strong returns.IHGH1 2026 (Q&A)
- Double-digit profit growth, record hotel expansion, and robust pipeline fuel long-term ambitions.IHGInvestor presentation
- Q1 RevPAR up 4.4% year-over-year, with strong growth and positive outlook despite regional challenges.IHGQ1 2026 TU
- Strong revenue and profit growth, robust pipeline, and over $1bn returned to shareholders.IHGH2 2024
- EBIT up 13%, Adjusted EPS up 16%, record hotel openings, and $1.1bn+ returned to shareholders.IHGH2 2025
- EBIT up 13%, Adjusted EPS up 16%, record signings, and $950M buyback announced.IHGH2 2025 (Q&A)
- Record signings, 3% RevPAR growth, and 12% EPS increase mark a strong H1 2024.IHGH1 2024
- RevPAR up 3.3% year-over-year, profit and EPS growth on track, pipeline and capital returns strong.IHGQ1 2025 TU
InterContinental Hotels Group
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Frequently asked questions
InterContinental Hotels Group PLC (IHG) is one of the world's largest hotel companies, with more than 5,800 hotels in nearly 100 countries and territories. IHG operates hotels under several brands, including InterContinental®, Holiday Inn®, Crowne Plaza®, Hotel Indigo®, Kimpton® Hotels and Resorts, and many others. As of December 31, 2021, InterContinental Hotels Group PLC, manages and franchises over 5,991 hotels representing approximately 880,327 rooms worldwide. The Company is based in Denham, the United Kingdom.