IHG Q4 2025 Earnings: Full Call Transcript Highlights

James Sterling February 17, 2026 3 min read

InterContinental Hotels Group PLC (IHG) Q4 2025 Earnings Conference Call

InterContinental Hotels Group PLC (IHG) conducted its Q4 2025 earnings conference call on February 17, 2026, at 4:30 AM EST. This session provided key stakeholders with insights into the company’s performance and future outlook.

Company Participants

Elie Maalouf – Chief Executive Officer & Executive Director
Michael Glover – Chief Financial Officer & Executive Director

Conference Call Participants

Richard Clarke – Bernstein Institutional Services LLC, Research Division
Jaafar Mestari – BNP Paribas, Research Division
Jamie Rollo – Morgan Stanley, Research Division
Ricardo Benevides Freitas – Banco Santander, S.A., Research Division
Jaina Mistry – Barclays Bank PLC, Research Division
Alex Brignall – Rothschild & Co Redburn, Research Division
Andre Juillard – Deutsche Bank AG, Research Division
Kate Xiao – BofA Securities, Research Division

Presentation

Operator

[Operator Instructions] With the instructions now provided, I will proceed to hand over the proceedings to Elie Maalouf for the introduction of the Q&A session.

Elie Maalouf

Chief Executive Officer & Executive Director

Thank you very much for your introduction, and a warm welcome to everyone joining this Q&A session today. I am Elie Maalouf, serving as the Chief Executive Officer of IHG Hotels & Resorts. I trust that many of you have already taken the opportunity to review the comprehensive results presentation, which we released at 7:00 U.K. time earlier this morning. This presentation featured detailed discussions from both myself and Michael Glover, who holds the position of our Chief Financial Officer. On this particular occasion, Michael and I find ourselves in separate locations: Michael is stationed at our primary headquarters in Windsor, while I am currently engaged with our operations here in the United States. We kindly ask for your patience as we manage the coordination of sharing and addressing the incoming questions effectively.

Prior to opening the lines for the initial round of questions from participants, allow me to offer a concise overview of our truly outstanding achievements throughout the 2025 fiscal year. Specifically, our Revenue per Available Room, or RevPAR, experienced a solid growth of 1.5 percent. This positive movement underscores the extensive reach of our global geographic presence, the profound strength and variety within our portfolio of brands, and the inherent durability of our well-established operating framework. Furthermore, we successfully achieved a gross system growth rate of 6.6 percent, complemented by a net system growth of 4.7 percent. These impressive figures were primarily propelled by remarkable development initiatives and an unprecedented number of hotel openings that set new records for the company.

In terms of expansion efforts, we entered into agreements for more than 102,000 rooms spanning across 694 hotels. This represents a noteworthy 9 percent increase compared to the figures from 2024, particularly when adjusting for the impact of the Ruby acquisition that occurred during 2025 and the NOVUM Hospitality agreement from the prior year. Our strategic focus on development has not only bolstered our system growth but also positioned us for sustained momentum into the coming periods.

Additionally, we made significant strides in enhancing our fee margin, reflecting improved operational efficiencies and a favorable revenue mix across our diverse property network. This progress highlights IHG’s ability to navigate market dynamics effectively while capitalizing on high-demand segments such as luxury and upscale accommodations. The combination of resilient RevPAR performance and robust pipeline growth demonstrates the scalability and adaptability of our asset-light business model, which continues to generate strong owner interest worldwide.

Looking ahead, these results affirm our confidence in the ongoing recovery and expansion within the global hospitality sector. IHG’s diversified brand portfolio, spanning from economy to luxury tiers, enables us to capture opportunities across various traveler demographics and regional markets. As we transition into 2026, our development momentum remains a key driver, supported by innovative loyalty programs and technology investments that enhance guest experiences and owner returns alike.