Intercontinental Hotels Share Discussion Threads

[broadwood] 14/3/2016 13:18

Odds on a bidding war for Starwood. Likely will help re-rate IHG.

[bigbertie] 14/3/2016 11:42

Either Marriott or the consortium are going to be short of a partner.
And the Chinese could come back sometime?
But anyway the IHG business model seems to work - even if no bid for IHG it's a good share to hold IMHO.
Good luck.

[broadwood] 14/3/2016 11:30

Hi bb - lets hope so.

[bigbertie] 14/3/2016 11:25

Consortium bidding for Starwood Hotels.

Edit - your post just pipped mine. This puts IHG back on the table!

[broadwood] 14/3/2016 11:24

Trickle down effect from this bid.

Shares in Starwood Hotels & Resorts Worldwide surged in pre-market trade after it said it had received an unsolicited buyout bid from a consortium of companies for $76 per share in cash.
Under the deal, stockholders would also receive a consideration in the form of Interval Leisure Group common stock from the previously announced spinoff of its vacation ownership business, Vistana Signature Experiences, and subsequent merger with ILG, currently valued at approximately $5.50 per Starwood share.

The company, which agreed a merger with Marriott International back in November, said it has received a waiver from Marriott enabling it to engage in talks with and provide diligence information to the consortium.

Starwood began the discussions with the consortium on 11 March and the Marriott waiver expires at the end of the day on 17 March.

"Starwood's board of directors has not changed its recommendation in support of Starwood's merger with Marriott.

"The board, in consultation with its legal and financial advisors, will carefully consider the outcome of its discussions with the consortium in order to determine the course of action that is in the best interest of Starwood and its stockholders."

Starwood said there can be no assurance that talks with the consortium will result in a binding proposal or that a transaction will be approved or consummated.

The company added that it does not intend to comment further on its discussions with the consortium prior to the expiration of the waiver period.

[broadwood] 14/3/2016 11:19

Can't find just now. Seems to be more than an upgrade.

Possibly something to do with an increased/ special divi.

Just guessing.

[broadwood] 14/3/2016 10:58

Crikey - shares just took off.

Hunting for the reason.

[togglebrush] 23/2/2016 07:14

Appendix 7: Investor information for proposed 2015 final dividend
-----------------------------------------------------------------------
Ex-dividend 31 March Record 1 April Payment 13 May 2016
'
Dividend ADRs: 57.5 cents per ADR; Ordinary shares:
payment: 40.3 pence per share.

Note: As from the interim dividend 2016,the ordinary dividend per ordinary share
will be translated into Pence Sterling at a date closer to the payment date; this date
and the basis for calculation will be announced at H1 results.
'
Appendix 8: Investor information for proposed special dividend
-----------------------------------------------------------------------
Ex-dividend 9 May 2016 Record 6 May 2016 Payment 23 May 2016

Dividend ADRs: 632.9 cents per ADR. The corresponding payment: amount in Pence Sterling per ordinary share will be announced on 12 May 2016, calculated based on the average of the market exchange rates for the three dealing days commencing 9 May 2016.

[philanderer] 22/2/2016 20:19

Buy IHG on cash returns

The FTSE 100 hotel operator is expected to announce a $1bn return to investors, with more to come

InterContinental Hotels
£24.54 +8p
Questor says BUY

[bigbertie] 01/12/2015 11:28

This flying now after analysts noted that 3 Chinese groups had expressed interest in buying Starwood which has since gone to Marriott. So the possible bid scenario is likely to run on...... And if it doesn't materialise, we are still being offered the prospect of a capital return in Feb following disposals (mainly the Intercontinental HK which sold for $938m). IMHO a good one to tuck away but DYOR of course.

[togglebrush] 07/11/2015 04:36

Late yesterday InterContinental Hotels Group issued a statement to make it clear that it's not considering a sale or merger of the company.

Earlier yesterday, Bloomberg learned from sources to report M&A was in the mix.

[broadwood] 06/11/2015 14:30

In at 2751.

[togglebrush] 20/10/2015 07:39

Q3 RNS extract
'
The financial position of the group remains robust, with an on-going commitment to an efficient balance sheet and an investment grade credit rating.

In August the group issued a GBP300m, 10-year bond at a 3.750% coupon rate, the lowest funding rate IHG has achieved in the Sterling bond market.

The completion of the sale of InterContinental Hong Kong for proceeds of $929m after initial working capital adjustments and cash tax marks the successful conclusion of our major owned asset disposal programme.

As previously announced, a decision on return of funds to shareholders from asset sales completed in 2015 will be disclosed at preliminary results in February 2016.

[togglebrush] 31/7/2015 08:37

Dip on RNS re speculation
'
Board of Directors of IHG states that it is not in talks with Starwood with a view to a combination of the businesses.

[togglebrush] 30/7/2015 07:36

Interim Divi
'
17.7p Ex 27 Aug Paid 2 Oct

[togglebrush] 10/7/2015 14:22

Press
'

‘
IHG sells luxury Hong Kong hotel for $938m
‘
Shares in the FTSE 100 company surged amid hopes that cash would be returned to investors
‘
Extracts
‘
The deal follows IHG’s December sale of the Le Grand in Paris for €330m. Shares in the FTSE 100 company jumped 3.1pc on expectations that IHG would now return the proceeds from both disposals to investors.
‘
…
‘
The company will announce its decision on cash returns following the Paris and Hong Kong transactions at its full-year results in February. Analysts at Citigroup cautioned that IHG could decide to use the money for acquisitions instead.
‘
Indeed, speculation of M&A in the sector has been growing and there has been talk that IHG could merge with American giant Starwood Hotels & Resorts.

[abcd1234] 29/4/2015 12:14

Starwood "exploring options", not specific to IHG,
...driving spike

[investor40] 21/4/2015 13:40

i have read www.investormorse.com---he looks for a qarai takeover and selling off HIA

[togglebrush] 19/4/2015 07:43

PRESS 17APR15
'

'
Extract
'
the Holiday Inn owner gained 6p to £27.22 amid talk it could merge with US rival Starwood Hotels & Resorts.

[togglebrush] 17/2/2015 07:13

Good results on first reading and CEO on CNBC Squawk Box
>
Divi Up 52c/33.8p XD 2Apr Paid 15May

[togglebrush] 16/2/2015 08:29

Press extracts

>
But over the past 12 months Holiday Inn owner Intercontinental Hotels Group, which can trace its roots back to 18th century brewer Bass, has risen 30 per cent.
>
This is double the 14.57 per cent increase managed by Microsoft, and half the 60 per cent of stock market star Apple. The Buckinghamshire-based firm (down 1.65 per cent or 45p to 2,620p) is expected to hit earnings targets when it delivers its full year results this Tuesday.
>
Chief executive Richard Solomons will say the hotelier has benefited from the strength of the dollar and continued strong trading in America and Europe.
Having grown to become the world’s largest hotel group- also owning Crowne Plaza, Indigo and Staybridge Suites - it still has a few jewels left in its crown.
>
In May last year it launched a review of the last remaining legacy freeholds most of which have now been auctioned.
>
IHG has been morphing itself into a pure play hotel management firm handing back cash to shareholders from the sale of its flagship London Intercontinental and a more complex arrangement in New York.
>
It has reached an agreement to sell its Paris hotel leaving just Hong Kong. Technically it has never actually confirmed the Kowloon property is up for grabs but analysts reckon it will bring a windfall.
>
James Ainley, an analyst at Citi said: 'We may see newsflow on a possible sale of HK during the year, which we think could raise up to $1billion and drive further cash returns.'
>
The sale of the Intercontinental Paris will bring in a smaller $405million amount which some expected will be returned to shareholders, as it has done with previous asset sales.
>
However the transaction is not thought to have been completed so a chunky cash return is not expected on Tuesday.
>
Analysts expect full-year operating profit of around $641million and an update on the acquisition of the Kimpton hotel chain.
>
However the US accounts for 66 per cent of group profit and IHG has been dependent on its continued growth trajectory.
>
But the supply of hotels to the industry has been increasing with construction up 31pc compared to last year particularly at the high end.
>
Ainley said: 'Short term this will help IHG get its pipeline open, medium term it could cause the cycle to roll over.'

[jeffcranbounre] 28/1/2015 18:37

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[bigbertie] 01/12/2014 15:14

nothing seems to be happening on this takeover so I have taken a chance and sold in anticipation of it drifting back in which case I may get back in (other things being equal). does anyone have more info?

[bigbertie] 14/11/2014 10:48

....and just to be clear, IHG have said that of course they will look at any approach which they think is good value for shareholders, but that in the end their shareholders will decide.