Broker tips: IHG, British Land, NWF
9th Aug 2011 12:55
Hotel chain operator InterContinental Hotels Group (IHG) has been oversold, according to Prime Markets, which has reiterated its buy recommendation on the stock. "[IHG] is currently a victim of the global stocks sell-off, but in our view this should not detract from a solid 6 months of results nor
Read moreBroker snap: IHG oversold, buy says Prime Markets
9th Aug 2011 12:31
Hotel chain operator InterContinental Hotels Group (IHG) has been oversold, according to Prime Markets, which has reiterated its buy recommendation on the stock. "[IHG] is currently a victim of the global stocks sell-off, but in our view this should not detract from a solid 6 months of results nor
Read moreFTSE 100 Movers: InterContinental Hotels provides shelter
9th Aug 2011 12:24
Global hotels group InterContinental Hotels's share price was given a boost after it saw revenue per available room grow by 6.7% from a year earlier in the first half of 2011. The increase was driven by strong demand in Greater China and the US, where the Holiday Inn relaunch is delivering sustain
Read moreLondon midday: Stocks bounce back
9th Aug 2011 12:19
The top share index has staged a strong recovery having plunged below the 5,000 point mark amid continued nervousness over economic growth. The Footsie tumbled below the 4,900 mark in mid-morning trade, with the blue chip index losing over 3% of its value for the second straight session. The sell-
Read moreLondon open: Flat start as Antofagasta and Vedanta rally
9th Aug 2011 08:26
Stocks are flat this morning, despite the predictions of a resumption of the slide, though recent volatility suggests it would be foolish to rule that out. Miners are rallying from hefty losses, yesterday, with South American copper group Antofagasta and India's Vedanta posting big gains. Precious
Read moreLondon pre-open: Footsie set to dive below 5,000
9th Aug 2011 07:30
Investors had better get used to the value of the Footsie starting with the number four as the blue-chip index is set for a triple-digit dive at the outset, following last night's nightmare on Wall Street. City traders predict the top-share index will open at around 4,960, down 109 points from last
Read moreIHG hails Holiday Inn relaunch
9th Aug 2011 07:06
Global hotels group InterContinental Hotels Group (IHG) saw revenue per available room (RevPAR) grow by 6.7% from a year earlier in the first half of 2011, driven by strong demand in Greater China and the US, where the Holiday Inn relaunch is delivering sustained outperformance. First half revenue
Read moreTuesday preview: Intl. Power, IHG, Greggs
8th Aug 2011 16:47
With stock markets heading south at a rate of knots, investors keen to retain some exposure to the equity markets often turn to utilities as safe investments, which makes the timing of the half-year results from International Power propitious. Credit Suisse thinks the company needs a large deal to
Read moreMillennium & Copthorne Q2 pre-tax profit almost doubles
2nd Aug 2011 09:11
Millennium & Copthorne Hotels' second quarter pre-tax profits nearly doubled as the hotel operator saw strong growth in revenue per available room in gateway cities like London, Singapore and New York. For the second quarter, the company's pre-tax profits rose 91.8%, including a gain of £17.4m fr
Read moreInterContinental Hotels names new CFO
27th Jul 2011 10:42
Holiday Inn hotels owner InterContinental Hotels Group (IHG) said it has appointed Tom Singer as chief financial officer, effective 26 September 2011. Singer takes over the role from Richard Solomons, who became the British hospitality firm's chief executive officer in July. The company has seen a
Read moreIHG rejigs deal with Hospitality Properties
26th Jul 2011 14:20
Holiday Inn hotels owner InterContinental Hotels Group (IHG) has revised and consolidated its four existing management agreements with the Hospitality Properties Trust (HPT). The four agreements, covering 130 hotels, have been incorporated into a single new agreement, which came into effect on 1 Ju
Read moreFTSE 100 movers: RBS leads financials lower
20th Jun 2011 16:01
Financials are among the fallers over concerns of a possible Greek default, as Europe's finance ministers remain at loggerheads over dishing out a chunk of the €110bn bailout money agreed last year for the country. RBS, Man Group, Hargreaves Lansdown and Schroders were the worst four performers as o
Read moreIntercontinental offloads another hotel for $56m
20th Jun 2011 14:22
InterContinental Hotels Group (IHG) has sold - but will continue to manage - the 210-room Hotel Indigo San Diego to Chesapeake Lodging Trust for $55.5m (around £34.2m), in line with its strategy to grow its management and franchise businesses whilst reducing capital intensity. The divestment will b
Read moreInterContinental vice president trousers £400,000
15th Jun 2011 15:28
Board member George Turner has pocketed more than £400,000 from the sale of shares in InterContinental Hotels Group. He offloaded 35,182 at 1,180p a time, but still has 175,637. Turner is the company's executive vice president, general counsel and company secretary. InterContinental, which is li
Read moreBroker tips: Intercontinental Hotels, Tui Travel, Pace
11th May 2011 12:24
UBS makes modest upwards revisions to its forecasts for InterContinental Hotels after the Holiday Inn owner's first quarter earnings figures came in ahead of expectations. However, the broker keeps its 'sell' rating, highlighting just mid-single digit growth in RevPAR (revenue per available room,
Read more