IHG Hotels and Resorts Q1 Trading Update to 31 March 2026

Very strong Q1 trading performance with better than expected Global RevPAR growth of +4.4%.

Financial & Operational Performance
- Global RevPAR (Revenue per Available Room) grew +4.4%.
- Americas: +3.6%
- EMEAA (Europe, Middle East, Asia & Africa): +5.6%
- Greater China: +5.7%
- Rooms revenue strongest in Groups (+7%) and Business (+6%), with Leisure up (+1%).
- Average Daily Rate (ADR): +2.0%
- Occupancy: +1.5 percentage points.

Growth & Development
- Gross system size growth: +6.6% YoY; opened 14.9k rooms (82 hotels) in Q1.
- Net system size growth: +5.0% YoY; global system now 1,036k rooms across 7,014 hotels.
- Signings: 21.4k rooms (163 hotels), +6% vs. last year (excluding Ruby brand acquisition).
- Pipeline: 343k rooms (2,347 hotels), +3% YoY.
- Milestones:
- First signing for new Premium brand Noted Collection in EMEAA.
- Garner Essentials conversion brand entered Greater China.
- Conversions remain strong: 35% of rooms opened, 53% of signings.

Capital Allocation
- $240m of 2026’s $950m share buyback programme completed, reducing share count by 1.1%.

CEO Commentary (Elie Maalouf)
- Praised strong Q1 performance driven by diverse global footprint and resilient demand.
- Highlighted growth in Greater China and resilience in EMEAA despite Middle East conflict.
- Expressed confidence in meeting full-year consensus growth forecasts and profit expectations.
- Emphasized IHG’s diversified business model across geographies, chain scales, and travel occasions.

Outlook
- Q2 bookings indicate continued growth.
- Anticipated challenges from Middle East conflict and international travel disruptions expected to be offset by demand elsewhere.
- Strategic priorities remain focused on leveraging IHG’s scale, platform, and long-term growth drivers.

This update shows IHG delivering above-expectation growth, expanding its portfolio past 7,000 hotels, and maintaining confidence in its 2026 outlook despite geopolitical and travel disruptions.