IHG Aims to Close Value Gap in U.S.
From Bloomberg
InterContinental Aims to Close Value Gap in U.S.
InterContinental Hotels Group Plc (IHG) Chief Executive Officer Richard Solomons aims to convince investors that the U.K.-based owner of the Holiday Inn brand is worth more than it’s being given credit for. The hotelier’s shares trade at a multiple of 19.3 times earnings, less than U.S. competitors such as Marriott International Inc. and Starwood Hotels & Resorts Worldwide, which have price-to-earnings ratios of 28.3 and 42.2 respectively. Solomons said he’s aiming to close that gap. Click here for the full story.
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