InterContinental Hotels Group Investigating Ways To Accelerate Expansion
Despite persevering in the face of global travel disruptions to achieve a year of strong revenue, industry sources say that InterContinental Hotels Group has chosen to invest more money back into the company instead of returning surplus cash to shareholders.
The firm's chief executive, Kevin Barr, commented that IHG would not be repeating last year's special dividend of $1.5 billion because the company is currently investigating ways to spend more cash in a bid to accelerate expansion. IHG's total annual dividend increased by 11% to $1.04.
According to Barr, initiatives being implanted by IHG include the launch of an upscale hotel brand, the acquisition of at least one luxury chain, internal reorganisation and a plan to accumulate $125 million in yearly savings by 2020.