Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2019shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | INTERCONTINENTAL HOTELS GROUP PLC /NEW/ |
Entity Central Index Key | 0000858446 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 187,717,720 |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | GB |
Document Annual Report | true |
Document Shell Company Report | false |
Document Transition Report | false |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Trading Symbol | IHG |
Title of 12(b) Security | American Depositary Shares |
Security Exchange Name | NYSE |
Ordinary shares [member] | |
Document Information [Line Items] | |
Trading Symbol | IHG |
Title of 12(b) Security | Ordinary Shares |
Security Exchange Name | NYSE |
Group income statement
Group income statement - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Profit (loss) [abstract] | |||
Revenue from fee business | $ 1,510 | $ 1,486 | $ 1,379 |
Revenue from owned, leased and managed lease hotels | 573 | 447 | 351 |
System Fund revenues | 1,373 | 1,233 | 1,242 |
Reimbursement of costs | 1,171 | 1,171 | 1,103 |
Total revenue | 4,627 | 4,337 | 4,075 |
Cost of sales | (790) | (688) | (554) |
System Fund expenses | (1,422) | (1,379) | (1,276) |
Reimbursed costs | (1,171) | (1,171) | (1,103) |
Administrative expenses | (385) | (415) | (355) |
Share of (losses)/gains of associates and joint ventures | (3) | (1) | 3 |
Other operating income | 21 | 14 | 84 |
Depreciation and amortisation | (116) | (115) | (112) |
Impairment charges | (131) | (18) | |
Operating profit | 630 | 582 | 744 |
Operating profit analysed as: | |||
Operating profit before System Fund and exceptional items | 865 | 832 | 774 |
System Fund | (49) | (146) | (34) |
Operating exceptional items | (186) | (104) | 4 |
Operating profit | 630 | 582 | 744 |
Financial income | 6 | 5 | 4 |
Financial expenses | (121) | (101) | (95) |
Fair value gains/(losses) on contingent purchase consideration | 27 | (4) | |
Profit before tax | 542 | 482 | 653 |
Tax | (156) | (132) | (118) |
Profit for the year from continuing operations | 386 | 350 | 535 |
Attributable to: | |||
Equity holders of the parent | 385 | 349 | 534 |
Non-controlling interest | 1 | 1 | 1 |
Profit loss from continuing operations | $ 386 | $ 350 | $ 535 |
Continuing and total operations: | |||
Basic | $ 2.104 | $ 1.837 | $ 2.767 |
Diluted | $ 2.092 | $ 1.818 | $ 2.753 |
Group statement of comprehensiv
Group statement of comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of comprehensive income [abstract] | |||
Profit for the year | $ 386 | $ 350 | $ 535 |
Items that may be subsequently reclassified to profit or loss: | |||
Gains on valuation of available-for-sale financial assetsb, net of related tax charge of $3m in 2017 | 0 | 0 | 41 |
Fair value gains reclassified to profit on disposal of available-for-sale financial assets | 0 | 0 | (73) |
(Losses)/gains on cash flow hedges, net of related tax credit of $nil (2018: including related tax credit of $1m) | (34) | 5 | 0 |
Costs of hedging | (6) | (1) | 0 |
Hedging losses/(gains) reclassified to financial expenses | 38 | (8) | 0 |
Exchange (losses)/gains on retranslation of foreign operations, net of related tax credit of $3m (2018: including related tax credit of $2m, 2017: net of related tax credit of $1m) | (39) | 44 | (90) |
Total items that may be subsequently reclassified to profit or loss | (41) | 40 | (122) |
Items that will not be reclassified to profit or loss: | |||
Gains/(losses) on equity instruments classified as fair value through other comprehensive incomeb, net of related tax charge of $2m (2018: including related tax charge of $2m) | 10 | (14) | 0 |
Re-measurement (losses)/gains on defined benefit plans, net of related tax credit of $1m (2018: net of related tax charge of $4m, 2017: $nil) | (6) | 8 | (4) |
Deferred tax charge on defined benefit plans arising from significant US tax reform | 0 | 0 | (11) |
Total items that will not be reclassified to profit or loss | 4 | (6) | (15) |
Total other comprehensive (loss)/income for the year | (37) | 34 | (137) |
Total comprehensive income for the year | 349 | 384 | 398 |
Attributable to: | |||
Equity holders of the parent | 348 | 382 | 396 |
Non-controlling interest | 1 | 2 | 2 |
Total comprehensive income for the year | $ 349 | $ 384 | $ 398 |
Group statement of comprehens_2
Group statement of comprehensive income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of comprehensive income [abstract] | |||
Gains on valuation of available-for-sale financial assets, tax | $ 3 | ||
(Losses)/gains on cash flow hedges | $ 0 | $ 1 | |
Exchange (losses)/gains on retranslation of foreign operations, tax | 3 | 2 | 1 |
Gains/(losses) on equity instruments classified as fair value through other comprehensive income | 2 | 2 | |
Re-measurement (losses)/gains on defined benefit plans, related tax credit/(charge) | $ (1) | $ 4 | $ 0 |
Group statement of changes in e
Group statement of changes in equity - USD ($) $ in Millions | Total | IFRS 16 [member] | Equity share capital [member] | Capital redemption reserve [member] | Shares held by employee share trusts [member] | Other reserves [member] | Fair value reserve [member] | Fair value reserve [member]IFRS 9 [member] | Cash flow hedging reserve [member] | Currency translation reserve [member] | Currency translation reserve [member]IFRS 16 [member] | Retained earnings [member] | Retained earnings [member]IFRS 9 [member] | Retained earnings [member]IFRS 16 [member] | IHG shareholders' equity [member] | IHG shareholders' equity [member]IFRS 16 [member] | Non-controlling interests [member] |
Impact of adopting accounting policy | $ (45) | $ 2 | $ (47) | $ (45) | |||||||||||||
Beginning balance (Previously reported [member]) at Dec. 31, 2016 | $ (1,146) | $ 141 | $ 9 | $ (11) | $ (2,860) | $ 111 | $ 466 | $ 990 | $ (1,154) | $ 8 | |||||||
Beginning balance at Dec. 31, 2016 | (1,191) | 141 | 9 | (11) | (2,860) | 111 | 468 | 943 | (1,199) | 8 | |||||||
Profit for the year | Previously reported [member] | 541 | ||||||||||||||||
Profit for the year | 535 | 534 | 534 | 1 | |||||||||||||
Items that may be subsequently reclassified to profit or loss: | |||||||||||||||||
Losses on cash flow hedges | 0 | ||||||||||||||||
Gains on valuation of available-for-sale financial assets | 41 | 41 | 41 | ||||||||||||||
Costs of hedging | 0 | ||||||||||||||||
Fair value gain reclassified to profit on disposal of available-for-sale financial asset | (73) | (73) | (73) | ||||||||||||||
Hedging losses/(gains) reclassified to financial expenses | 0 | ||||||||||||||||
Exchange losses on retranslation of foreign operations | Previously reported [member] | (88) | ||||||||||||||||
Exchange losses on retranslation of foreign operations | (90) | (91) | (91) | 1 | |||||||||||||
Total items that may be subsequently reclassified to profit or loss | (122) | (32) | (91) | (123) | 1 | ||||||||||||
Items that will not be reclassified to profit or loss: | |||||||||||||||||
Gains on equity instruments classified as fair value through other comprehensive income | 0 | ||||||||||||||||
Re-measurement losses on defined benefit plans | (4) | (4) | (4) | ||||||||||||||
Deferred tax charge on defined benefit plans arising from significant US tax reform | (11) | (11) | (11) | ||||||||||||||
Total items that will not be reclassified to profit or loss | (15) | (15) | (15) | ||||||||||||||
Total other comprehensive (loss)/income for the year | (137) | (32) | (91) | (15) | (138) | 1 | |||||||||||
Total comprehensive income for the year | Previously reported [member] | 406 | ||||||||||||||||
Total comprehensive income for the year | 398 | (32) | (91) | 519 | 396 | 2 | |||||||||||
Transfer of treasury shares to employee share trusts | (20) | 20 | |||||||||||||||
Purchase of own shares by employee share trusts | (3) | (3) | (3) | ||||||||||||||
Release of own shares by employee share trusts | 29 | (29) | |||||||||||||||
Equity-settled share-based cost | 29 | 29 | 29 | ||||||||||||||
Tax related to share schemes | 9 | 9 | 9 | ||||||||||||||
Equity dividends paid | (596) | (593) | (593) | (3) | |||||||||||||
Exchange adjustments | 13 | 1 | (14) | ||||||||||||||
Ending balance (Previously reported [member]) at Dec. 31, 2017 | (1,354) | 154 | 10 | (5) | (2,874) | 79 | 377 | 898 | (1,361) | 7 | |||||||
Ending balance at Dec. 31, 2017 | (1,354) | 154 | 10 | (5) | (2,874) | 79 | 377 | 898 | (1,361) | 7 | |||||||
Impact of adopting accounting policy | $ (18) | $ 18 | |||||||||||||||
Profit for the year | Previously reported [member] | 352 | ||||||||||||||||
Profit for the year | 350 | 349 | 349 | 1 | |||||||||||||
Items that may be subsequently reclassified to profit or loss: | |||||||||||||||||
Losses on cash flow hedges | 5 | $ 5 | 5 | ||||||||||||||
Gains on valuation of available-for-sale financial assets | 0 | ||||||||||||||||
Costs of hedging | (1) | (1) | (1) | ||||||||||||||
Hedging losses/(gains) reclassified to financial expenses | (8) | (8) | (8) | ||||||||||||||
Exchange losses on retranslation of foreign operations | Previously reported [member] | 43 | ||||||||||||||||
Exchange losses on retranslation of foreign operations | 44 | 43 | 43 | 1 | |||||||||||||
Total items that may be subsequently reclassified to profit or loss | 40 | (4) | 43 | 39 | 1 | ||||||||||||
Items that will not be reclassified to profit or loss: | |||||||||||||||||
Gains on equity instruments classified as fair value through other comprehensive income | (14) | (14) | (14) | ||||||||||||||
Re-measurement losses on defined benefit plans | 8 | 8 | 8 | ||||||||||||||
Deferred tax charge on defined benefit plans arising from significant US tax reform | 0 | ||||||||||||||||
Total items that will not be reclassified to profit or loss | (6) | (14) | 8 | (6) | |||||||||||||
Total other comprehensive (loss)/income for the year | 34 | (14) | (4) | 43 | 8 | 33 | 1 | ||||||||||
Total comprehensive income for the year | Previously reported [member] | 385 | ||||||||||||||||
Total comprehensive income for the year | 384 | (14) | (4) | 43 | 357 | 382 | 2 | ||||||||||
Transfer of treasury shares to employee share trusts | (19) | 19 | |||||||||||||||
Purchase of own shares by employee share trusts | (3) | (3) | (3) | ||||||||||||||
Release of own shares by employee share trusts | 24 | (24) | |||||||||||||||
Equity-settled share-based cost | 39 | 39 | 39 | ||||||||||||||
Tax related to share schemes | 3 | 3 | 3 | ||||||||||||||
Equity dividends paid | (200) | (199) | (199) | (1) | |||||||||||||
Exchange adjustments | (8) | (1) | 9 | ||||||||||||||
Ending balance (Previously reported [member]) at Dec. 31, 2018 | (1,131) | 146 | 10 | (4) | (2,865) | 47 | (4) | 420 | 1,111 | (1,139) | 8 | ||||||
Ending balance at Dec. 31, 2018 | (1,131) | 146 | 10 | (4) | (2,865) | 47 | (4) | 420 | 1,111 | (1,139) | 8 | ||||||
Profit for the year | 386 | 385 | 385 | 1 | |||||||||||||
Items that may be subsequently reclassified to profit or loss: | |||||||||||||||||
Losses on cash flow hedges | (34) | (34) | (34) | ||||||||||||||
Gains on valuation of available-for-sale financial assets | 0 | ||||||||||||||||
Costs of hedging | (6) | (6) | (6) | ||||||||||||||
Hedging losses/(gains) reclassified to financial expenses | 38 | 38 | 38 | ||||||||||||||
Exchange losses on retranslation of foreign operations | (39) | (39) | (39) | ||||||||||||||
Total items that may be subsequently reclassified to profit or loss | (41) | (2) | (39) | (41) | |||||||||||||
Items that will not be reclassified to profit or loss: | |||||||||||||||||
Gains on equity instruments classified as fair value through other comprehensive income | 10 | 10 | 10 | ||||||||||||||
Re-measurement losses on defined benefit plans | (6) | (6) | (6) | ||||||||||||||
Deferred tax charge on defined benefit plans arising from significant US tax reform | 0 | ||||||||||||||||
Total items that will not be reclassified to profit or loss | 4 | 10 | (6) | 4 | |||||||||||||
Total other comprehensive (loss)/income for the year | (37) | 10 | (2) | (39) | (6) | (37) | |||||||||||
Total comprehensive income for the year | 349 | 10 | (2) | (39) | 379 | 348 | 1 | ||||||||||
Transfer of treasury shares to employee share trusts | (19) | 19 | |||||||||||||||
Purchase of own shares by employee share trusts | (5) | (5) | (5) | ||||||||||||||
Release of own shares by employee share trusts | 23 | (23) | |||||||||||||||
Equity-settled share-based cost | 41 | 41 | 41 | ||||||||||||||
Tax related to share schemes | 4 | 4 | 4 | ||||||||||||||
Equity dividends paid | (722) | (721) | (721) | (1) | |||||||||||||
Transaction costs relating to shareholder returns | (1) | (1) | (1) | ||||||||||||||
Exchange adjustments | 5 | (5) | |||||||||||||||
Ending balance at Dec. 31, 2019 | $ (1,465) | $ 151 | $ 10 | $ (5) | $ (2,870) | $ 57 | $ (6) | $ 381 | $ 809 | $ (1,473) | $ 8 |
Group statement of financial po
Group statement of financial position - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | |||
Goodwill and other intangible assets | $ 1,376 | $ 1,143 | $ 967 |
Property, plant and equipment | 309 | 273 | 250 |
Right-of-use assets | 490 | 513 | 486 |
Investment in associates and joint ventures | 110 | 104 | 141 |
Retirement benefit assets | 3 | ||
Other financial assets | 284 | 260 | 228 |
Derivative financial instruments | 7 | ||
Non-current tax receivable | 28 | 31 | 16 |
Deferred tax assets | 66 | 63 | 78 |
Contract costs | 67 | 55 | 51 |
Contract assets | 311 | 270 | 241 |
Total non-current assets | 3,041 | 2,719 | 2,461 |
Inventories | 6 | 5 | 3 |
Trade and other receivables | 666 | 610 | 549 |
Current tax receivable | 16 | 27 | 101 |
Other financial assets | 4 | 1 | 16 |
Derivative financial instruments | 1 | 1 | |
Cash and cash equivalents | 195 | 704 | 168 |
Contract costs | 5 | 5 | 7 |
Contract assets | 23 | 20 | 17 |
Total current assets | 916 | 1,373 | 861 |
Assets classified as held for sale | 19 | ||
Total assets | 3,976 | 4,092 | 3,322 |
LIABILITIES | |||
Loans and other borrowings | (87) | (104) | (110) |
Lease liabilities | (65) | (55) | (44) |
Trade and other payables | (568) | (616) | (595) |
Deferred revenue | (555) | (572) | (490) |
Provisions | (40) | (10) | (3) |
Current tax payable | (50) | (50) | (64) |
Total current liabilities | (1,365) | (1,407) | (1,306) |
Loans and other borrowings | (2,078) | (1,910) | (1,678) |
Lease liabilities | (595) | (615) | (589) |
Derivative financial instruments | (20) | ||
Retirement benefit obligations | (96) | (91) | (104) |
Trade and other payables | (116) | (125) | (7) |
Deferred revenue | (1,009) | (934) | (867) |
Provisions | (22) | (17) | (5) |
Non-current tax payable | (25) | ||
Deferred tax liabilities | (118) | (124) | (95) |
Total non-current liabilities | (4,054) | (3,816) | (3,370) |
Liabilities classified as held for sale | (22) | ||
Total liabilities | (5,441) | (5,223) | (4,676) |
Net liabilities | (1,465) | (1,131) | (1,354) |
EQUITY | |||
IHG shareholders' equity | (1,473) | (1,139) | (1,361) |
Non-controlling interest | 8 | 8 | 7 |
Total equity | $ (1,465) | $ (1,131) | $ (1,354) |
Group Statements of cash flows
Group Statements of cash flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of cash flows [abstract] | |||
Profit for the year | $ 386 | $ 350 | $ 535 |
Adjustments reconciling profit for the year to cash flow from operations before contract acquisition costs | 582 | 564 | 371 |
Cash flow from operations before contract acquisition costs | 968 | 914 | 906 |
Contract acquisition costs, net of repayments | (61) | (54) | (57) |
Cash flow from operations | 907 | 860 | 849 |
Interest paid | (110) | (87) | (87) |
Interest received | 3 | 2 | 1 |
Contingent purchase consideration paid | (6) | ||
Tax paid on operating activities | (141) | (66) | (147) |
Net cash from operating activities | 653 | 709 | 616 |
Cash flow from investing activities | |||
Purchase of property, plant and equipment | (75) | (46) | (44) |
Purchase of intangible assets | (104) | (112) | (172) |
Investment in associates and joint ventures | (10) | (1) | (47) |
Investment in other financial assets | (9) | (33) | (30) |
Acquisition of businesses, net of cash acquired | (292) | (34) | |
Contingent purchase consideration paid | (2) | (4) | |
Capitalised interest paid | (5) | (5) | (6) |
Loan repayments by associates and joint ventures | 9 | ||
Distributions from associates and joint ventures | 32 | ||
Repayments of other financial assets | 4 | 8 | 20 |
Disposal of equity securities | 75 | ||
Tax paid on disposals | 0 | (2) | (25) |
Net cash from investing activities | (493) | (197) | (220) |
Cash flow from financing activities | |||
Purchase of own shares by employee share trusts | (5) | (3) | (3) |
Dividends paid to shareholders | (721) | (199) | (593) |
Dividend paid to non-controlling interest | (1) | (1) | (3) |
Transaction costs relating to shareholder returns | (1) | ||
Issue of long-term bonds, including effect of currency swaps | 554 | ||
Principal element of lease payments | (59) | (35) | (25) |
Increase/(decrease) in other borrowings | 127 | (268) | 153 |
Proceeds from currency swaps | 3 | ||
Net cash from financing activities | (660) | 51 | (471) |
Net movement in cash and cash equivalents in the year | (500) | 563 | (75) |
Cash and cash equivalents at beginning of the year | 600 | 58 | 117 |
Exchange rate effects | 8 | (21) | 16 |
Cash and cash equivalents at end of the year | $ 108 | $ 600 | $ 58 |
General information
General information | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
General information | General information This document constitutes the Annual Report and Financial Statements in accordance with UK Listing Rules requirements and the Annual Report on Form 20-F The Consolidated Financial Statements of InterContinental Hotels Group PLC (the Group or IHG) for the year ended 31 December 2019 were authorised for issue in accordance with a resolution of the Directors on 17 February 2020. InterContinental Hotels Group PLC (the Company) is incorporated and domiciled in Great Britain and registered in England and Wales. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Significant accounting policies | Accounting policies General information This document constitutes the Annual Report and Financial Statements in accordance with UK Listing Rules requirements and the Annual Report on Form 20-F The Consolidated Financial Statements of InterContinental Hotels Group PLC (the Group or IHG) for the year ended 31 December 2019 were authorised for issue in accordance with a resolution of the Directors on 17 February 2020. InterContinental Hotels Group PLC (the Company) is incorporated and domiciled in Great Britain and registered in England and Wales. Basis of preparation The Consolidated Financial Statements of IHG have been prepared on a going concern basis and under the historical cost convention, except for assets classified as fair value through profit or loss, assets classified as fair value through other comprehensive income and liabilities and derivative financial instruments measured at fair value through profit or loss. The Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as issued by the IASB and in accordance with IFRS as adopted by the European Union (EU) and as applied in accordance with the provisions of the Companies Act 2006. IFRS as adopted by the EU differs in certain respects from IFRS as issued by the IASB. However, the differences have no impact on the Consolidated Financial Statements for the years presented. The impact of adopting new accounting standards is disclosed on pages 146 to 149. Presentational currency The Consolidated Financial Statements are presented in millions of US dollars reflecting the profile of the Group’s revenue and operating profit which are primarily generated in US dollars or US dollar-linked currencies. In the Consolidated Financial Statements, equity share capital, the capital redemption reserve and shares held by employee share trusts are translated into US dollars at the rates of exchange on the last day of the period; the resultant exchange differences are recorded in other reserves. The functional currency of the Parent Company is sterling since this is a non-trading Critical accounting policies and the use of judgements, estimates and assumptions In determining and applying the Group’s accounting policies, management are required to make judgements, estimates and assumptions. An accounting policy is considered to be critical if its selection or application could materially affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Judgements System Fund The Group operates a System Fund (the Fund) to collect and administer cash assessments from hotel owners for the specific purpose of use in marketing, the Guest Reservation System and hotel loyalty programme. Assessments are generally levied as a percentage of hotel revenues. The Fund is not managed to generate a profit or loss for IHG over the longer term, but is managed for the benefit of the IHG System with the objective of driving revenues for the hotels in the System. In relation to marketing and reservation services, the Group’s performance obligation under IFRS 15 ‘Revenue from Contracts with Customers’ is determined to be the continuous performance of the services rather than the spending of the assessments received. Accordingly, assessment fees are recognised as hotel revenues occur, Fund expenses are charged to the Group income statement as incurred and no constructive obligation is deemed to exist under IAS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’. Accordingly, no liability is recognised relating to the balance of unspent funds. No other critical judgements have been made in applying the Group’s accounting policies. Estimates Management consider that critical estimates and assumptions are used for measuring the deferred revenue relating to the loyalty programme and in impairment testing, as discussed in further detail below. Estimates and assumptions are evaluated by management using historical experience and other factors believed to be reasonable based on current circumstances, however actual results could differ. Loyalty The hotel loyalty programme, IHG Rewards Club, enables members to earn points, funded through hotel assessments, during each qualifying stay at an IHG branded hotel and consume points at a later date for free accommodation or other benefits. The Group recognises deferred revenue in an amount that reflects IHG’s unsatisfied performance obligations, valued at the stand-alone selling price of the future benefit to the member. The amount of revenue recognised and deferred is impacted by ‘breakage’. On an annual basis the Group engages an external actuary who uses statistical formulae to assist in the estimate of the number of points that will never be consumed (‘breakage’). Significant estimation uncertainty exists in projecting members’ future consumption activity. Actuarial gains and losses would correspondingly adjust the amount of System Fund revenues recognised and deferred revenue in the Group statement of financial position. At 31 December 2019, deferred revenue relating to the loyalty programme was $1,233m (2018: $1,181m). Based on the conditions existing at the balance sheet date, a one percentage point decrease in the breakage estimate relating to outstanding points would increase this liability by approximately $16m. Impairment testing UK portfolio In 2019, an impairment charge of $81m has been recognised in relation to the UK leased portfolio, triggered by trading disruption as a result of renovations and the re-branding re-branding right-of-use Contingent purchase consideration in relation to the UK portfolio comprises the above-market element of the expected lease payments to the landlord and includes variable rentals which are based on hotel performance. A fair value gain of $38m was recorded in the year which included the impact of a reduction in expected variable rentals payable. Information on the inputs to the fair value calculation is included in note 25. Given the materiality of the items and the fact that the same underlying cash flows have been used to test for the impairment and to measure the fair value of contingent purchase consideration, they have been classified as exceptional items with the net impact being a $43m charge to the Group income statement and an equivalent reduction in net assets, excluding related tax impacts. The sensitivity to the key assumptions is as follows: • a one percentage point decrease in hotel RevPAR growth over the specific projection period would have resulted in further impairment of $23m to the right-of-use • a one percentage point increase in the discount rate used to discount the projected cash flows would have resulted in further impairment of $4m to the right-of-use Kimpton In 2019, an impairment charge of $50m has been recognised in respect of the Kimpton management contract portfolio acquired in 2015. The impairment results from management’s revised expectations regarding future trading which have been revised downwards in line with industry growth forecasts, the rate of hotel exits (‘attrition’) which has increased to reflect past experience, and the cost of retaining hotels within the portfolio. Information on the impairment test performed is included in note 13. The sensitivity to the key assumptions is as follows: • a 10% reduction in projected management fees would have resulted in further impairment of $9m. • a one percentage point increase in the discount rate used to discount the projected management fees would have resulted in further impairment of $7m. • an increase in the assumed attrition rate for 2020 by one hotel would have resulted in further impairment of $3m. Significant accounting policies Basis of consolidation The Consolidated Financial Statements comprise the Financial Statements of the Parent Company and entities controlled by the Group. Control exists when the Group has: • power over an investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee ); • exposure, or rights, to variable returns from its involvement with the investee ; and • the ability to use its power over the investee to affect its returns. All intra-group balances and transactions are eliminated on consolidation. The assets, liabilities and results of those businesses acquired or disposed of are consolidated for the period during which they were under the Group’s control. The Group operates a deferred compensation plan in the US which allows certain employees to make additional provision for retirement, through the deferral of salary with matching company contributions. Employees can draw down on the plan in certain limited circumstances during employment. The assets of the plan are held in a company-owned trust which is not consolidated as the relevant activity of the trust, being the investment of the funds in the trust, is directed by the participating employees of the plan and the company has no exposure to the gains and losses resulting from those investment decisions. The assets of the trust are held solely for the benefit of the participating employees and to pay plan expenses, other than in the case of a company insolvency in which case they can be claimed by the general creditors of the company. At 31 December 2019, the trust had assets with a fair value of $218m (2018: $193m). Foreign currencies Transactions in foreign currencies are translated to functional currency at the exchange rates ruling on the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated to the functional currency at the relevant rates of exchange ruling on the last day of the period. Foreign exchange differences arising on translation are recognised in the Group income statement except on foreign currency borrowings that provide a hedge against a net investment in a foreign operation. These are taken directly to the currency translation reserve until the disposal of the net investment, at which time they are recycled against the gain or loss on disposal. The assets and liabilities of foreign operations, including goodwill, are translated into US dollars at the relevant rates of exchange ruling on the last day of the period. The revenues and expenses of foreign operations are translated into US dollars at average rates of exchange for the period. The exchange differences arising on retranslation are taken directly to the currency translation reserve. On disposal of a foreign operation, the cumulative amount recognised in the currency translation reserve relating to that particular foreign operation is recycled against the gain or loss on disposal. Business combinations and goodwill On the acquisition of a business, identifiable assets acquired and liabilities assumed are measured at their fair value. Contingent liabilities assumed are measured at fair value unless this cannot be measured reliably, in which case they are not recognised but are disclosed in the same manner as other contingent liabilities. The measurement of deferred tax assets and liabilities arising on acquisition is as described in the general principles detailed within the ‘Taxes’ accounting policy note on page 143 with the exception that no deferred tax is provided on taxable temporary differences in connection with the initial recognition of goodwill. The cost of an acquisition is measured as the aggregate of the fair value of the consideration transferred. Contingent purchase consideration is measured at fair value on the date of acquisition, and is re-measured Payments of contingent purchase consideration reduce the balance sheet liability. The portion of each payment relating to the original estimate of the fair value of the contingent purchase consideration on acquisition is reported within cash flow from investing activities in the Group statement of cash flows and the portion of each payment relating to the increase or decrease in the liability since the acquisition date is reported within cash flow from operations. Goodwill is recorded at cost, being the difference between the fair value of the consideration and the fair value of net assets acquired. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses and is not amortised. Goodwill is tested for impairment at least annually by comparing carrying values of cash-generating units with their recoverable amounts. Impairment losses relating to goodwill cannot be subsequently reversed. Transaction costs are expensed and are not included in the cost of acquisition. Intangible assets Brands Externally acquired brands are initially recorded at cost if separately acquired or fair value if acquired as part of a business combination, provided the brands are controlled through contractual or other legal rights, or are separable from the rest of the business, and the fair value can be reliably measured. Brands are amortised over their estimated useful lives (and tested for impairment if there are indicators of impairment) or tested for impairment at least annually if determined to have indefinite lives. The costs of developing internally generated brands are expensed as incurred. Management agreements Management agreements acquired as part of a business combination are initially recorded at the fair value attributed to those contracts on acquisition. The value of management agreements is amortised on a straight-line basis over the contract lives, including any extension periods at the Group’s option. Software Acquired and internally developed software are capitalised on the basis of the costs incurred to acquire and bring to use the specific software. Costs are generally amortised over estimated useful lives of three to five years on a straight-line basis. Internally generated development costs are expensed unless forecast revenues exceed attributable forecast development costs, in which case they are capitalised and amortised over the estimated useful life of the asset. Property, plant and equipment Property, plant and equipment are stated at cost less depreciation and any impairment. Repairs and maintenance costs are expensed as incurred. Land is not depreciated. All other property, plant and equipment are depreciated to a residual value over their estimated useful lives, namely: • buildings – over a maximum of 50 years; and • fixtures, fittings and equipment – three to 25 years. All depreciation is charged on a straight-line basis. Residual value is reassessed annually. Property, plant and equipment are tested for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Assets that do not generate independent cash flows are combined into cash-generating units. If carrying values exceed their estimated recoverable amount, the assets or cash-generating units are written down to the recoverable amount. Recoverable amount is the greater of fair value less costs of disposal and value in use. Value in use is assessed based on estimated future cash flows discounted to their present value using a pre-tax Leases On inception of a contract, the Group assesses whether it contains a lease. A contract contains a lease when it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The right to use the asset and the obligation under the lease to make payments are recognised in the Group statement of financial position as a right-of-use Lease contracts may contain both lease and non-lease non-lease The right-of-use Right-of-use Right-of-use re-measurement The lease liability is initially measured at the present value of the lease payments to be made over the lease term. The lease payments include fixed payments (including ‘in-substance ‘In-substance The lease term includes periods subject to extension options which the Group is reasonably certain to exercise and excludes the effect of early termination options where the Group is not reasonably certain that it will exercise the option. Minimum lease payments include the cost of a purchase option if the Group is reasonably certain it will purchase the underlying asset after the lease term. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for lease payments made. In addition, the carrying amount of lease liabilities is re-measured ‘in-substance Variable lease payments that do not depend on an index or a rate are recognised as an expense in the period over which the event or condition that triggers the payment occurs. In respect of variable leases which guarantee a minimum amount of rent over the lease term, the guaranteed amount is considered to be an ‘in-substance ‘in-substance The Group has opted not to apply the lease accounting model to intangible assets, leases of low-value Sub-leases sub-lessee. Lease payments are presented as follows in the Group statement of cash flows: • short-term lease payments, payments for leases of low-value • payments for the interest element of recognised lease liabilities are included in ‘interest paid’ within cash flows from operating activities; and • payments for the principal element of recognised lease liabilities are presented within cash flows from financing activities. Associates and joint ventures An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the entity, but is not control or joint control over those policies. A joint venture exists when two or more parties have joint control over, and rights to the net assets of, the venture. Joint control is the contractually agreed sharing of control which only exists when decisions about the relevant activities require the unanimous consent of the parties sharing control. In determining the extent of power or significant influence, consideration is given to other agreements between the Group, the investee entity, and the investing partners, including any related management or franchise agreements and the existence of any performance guarantees. Associates and joint ventures are accounted for using the equity method unless the associate or joint venture is classified as held for sale. Under the equity method, the Group’s investment is recorded at cost adjusted by the Group’s share of post-acquisition profits and losses and other movements in the investee’s reserves. When the Group’s share of losses exceeds its interest in an associate or joint venture, the Group’s carrying amount is reduced to $nil and recognition of further losses is discontinued except to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of an associate or joint venture. If there is objective evidence that an associate or joint venture is impaired, an impairment charge is recognised if the carrying amount of the investment exceeds its recoverable amount. Upon loss of significant influence over an associate or joint control of a joint venture, any retained investment is measured at fair value with any difference to carrying value recognised in the Group income statement. Financial assets On initial recognition, the Group classifies its financial assets as being subsequently measured at amortised cost, fair value through other comprehensive income (FVOCI), or fair value through profit or loss (FVTPL). Financial assets which are held to collect contractual cash flows and give rise to cash flows that are solely payments of principal and interest are subsequently measured at amortised cost. Interest on these assets is calculated using the effective interest rate method and is recognised in the Group income statement as financial income. The Group recognises a provision for expected credit losses for financial assets held at amortised cost. Where there has not been a significant increase in credit risk since initial recognition, provision is made for defaults that are possible within the next 12 months. Where there has been a significant increase in credit risk since initial recognition, provision is made for credit losses expected over the remaining life of the asset. The Group has elected to irrevocably designate equity investments as FVOCI when they meet the definition of equity and are not held for trading. Changes in the value of equity investments classified as FVOCI are recorded directly in equity within the fair value reserve and are never recycled to the Group income statement. Dividends from equity investments classified as FVOCI are recognised in the Group income statement as other operating income. Equity instruments classified as FVOCI are not subject to impairment assessment. Financial assets measured at FVTPL include money market funds and other financial assets which do not have a fixed date of repayment. Trade receivables Trade receivables are recorded at their original amount less provision for expected credit losses. The Group has elected to apply the simplified version of the expected credit loss model permitted by IFRS 9 ‘Financial Instruments’ in respect of trade receivables, which involves assessing lifetime expected credit losses on all balances. The Group has established a provision matrix that is based on its historical credit loss experience by region and may be adjusted for specific forward-looking factors. The carrying amount of the receivable is reduced through the use of a provision account and movements in the provision are recognised in the Group income statement within cost of sales. When a previously provided trade receivable is uncollectable, it is written off against the provision. Balances which are more than 180 days past due are considered to be in default and are written off the ledgers but continue to be actively pursued. Adjustments to this policy may be made in specific circumstances. At each reporting date, the Group assesses whether trade receivables are credit-impaired, for example if the customer is in significant financial difficulty. Cash and cash equivalents Cash comprises cash in hand and demand deposits. Cash equivalents are short-term highly liquid investments with an original maturity of three months or less that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash and cash equivalents may include amounts which are subject to regulatory or other contractual restrictions and not available for general use by the Group. Cash balances are classified as other financial assets when subject to a specific charge or contractually ring-fenced for a specific purpose, such that the Group does not control the circumstances or timing of its release. Money market funds Money market funds are held at FVTPL, with distributions recognised in financial income. Bank and other borrowings Bank and other borrowings are initially recognised at the fair value of the consideration received less directly attributable transaction costs. They are subsequently measured at amortised cost. Finance charges, including the transaction costs and any discount or premium on issue, are recognised in the Group income statement using the effective interest rate method. Borrowings are classified as non-current period-end Derivative financial instruments and hedging Derivatives are initially recognised and subsequently re-measured re-measurement Changes in the fair value of derivatives which have either not been designated as hedging instruments or relate to the ineffective portion of hedges are recognised immediately in the Group income statement. Documentation outlining the measurement and effectiveness of any hedging arrangement is maintained throughout the life of the hedge relationship. Interest arising from currency derivatives and interest rate swaps is recorded in either financial income or expenses over the term of the agreement, unless the accounting treatment for the hedging relationship requires the interest to be taken to reserves. Interest paid reported within the Group statement of cash flows includes interest paid on the Group’s bonds, net of the effect of the related derivative financial instruments. Cash flow hedges Financial instruments are classified as cash flow hedges when they hedge exposure to variability in cash flows that are attributable to either a highly probable forecast transaction or a particular risk associated with a recognised asset or liability. Changes in the fair value are recorded in other comprehensive income and the cash flow hedging reserve to the extent that the hedges are effective. When the hedged item is recognised, the cumulative gains and losses on the related hedging instrument are reclassified to the Group income statement, within financial expenses. Net investment hedges Financial instruments are classified as net investment hedges when they hedge the Group’s net investment in foreign operations. Changes in the fair value are recorded in other comprehensive income and the currency translation reserve to the extent that the hedges are effective. The cumulative gains and losses remain in equity until a foreign operation is sold, at which point they are reclassified to the Group income statement. Offsetting of financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is reported in the Group statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liabilities simultaneously. To meet these criteria, the right of set-off Provisions Provisions are recognised when the Group has a present obligation as a result of a past event, it is probable that a payment will be made and a reliable estimate of the amount payable can be made. If the effect of the time value of money is material, the provision is discounted using a current pre-tax In respect of litigation, provision is made when management consider it probable that payment may occur even though the defence of the related claim may still be ongoing through the court process. Taxes Current tax Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from, or paid to, the tax authorities, including interest. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the end of the reporting period. Deferred tax Deferred tax assets and liabilities are recognised in respect of temporary differences between the tax base and carrying value of assets and liabilities including on property, plant and equipment, intangible assets, application fees, contract costs, unrelieved tax losses, unremitted profits from subsidiaries, gains rolled over into replacement assets, and other short-term temporary differences. Judgement is used when assessing the extent to which deferred tax assets, particularly in respect of tax losses, should be recognised. Deferred tax assets are therefore recognised to the extent that it is regarded as probable that there will be sufficient and suitable taxable profits (including the future release of deferred tax liabilities) in the relevant legal entity or tax group against which such assets can be utilised in the future. For this purpose, forecasts of future taxable profits are considered by assessing the Group’s forecast revenue and profit models, taking into account future growth predictions and operating cost assumptions. Accordingly, changes in assumptions to the Group’s forecasts may have an impact on the amount of future taxable profits and therefore the period over which any deferred tax assets might be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the periods in which the asset or liability will be settled, based on rates enacted or substantively enacted at the end of the reporting period. Where deferred tax assets and liabilities arise in the same entity or group of entities and there would be a legal right to offset the assets and liabilities were they to reverse, the assets and liabilities are also offset on the Group statement of financial position. Otherwise, the assets and liabilities are not offset. Retirement benefits Defined contribution plans Payments to defined contribution schemes are charged to the Group income statement as they fall due. Defined benefit plans Plan assets are measured at fair value and plan liabilities are measured on an actuarial basis using the projected unit credit method, discounted at an interest rate equivalent to the current rate of return on a high-quality corporate bond of equivalent currency and term to the plan liabilities. The difference between the value of plan assets and liabilities at the period-end wind-up. The service cost of providing pension benefits to employees, together with the net interest expense or income for the year, is charged to the Group income statement within ‘administrative expenses’. Net interest is calculated by applying the discount rate to the net defined benefit asset or liability, after any asset restriction. Past service costs and gains, which are the change in the present value of the defined benefit obligation for employee service in prior periods resulting from plan amendments, are recognised immediately the plan amendment occurs. Settlement gains and losses, being the difference between the settlement cost and the present value of the defined benefit obligations being settled, are recognised when the settlement occurs. Re-measurements Re-measurement Actuarial valuations are carried out on a regular basis and are updated for material transactions and other material changes in circumstances (including changes in market prices and interest rates) up to the end of the reporting period. Assets held for sale Assets and liabilities are classified as held for sale when their carrying amount will be recovered principally through a sale transaction rather than continuing use and a sale is highly probable and expected to complete within one year. For a sale to be highly probable, management need to be committed to a plan to sell the asset and the asset must be actively marketed for sale at a price that is reasonable in relation to its current fair value. Assets designated as held for sale are held at the lower of carrying amount at designation and fair value less costs to sell. Depreciation and amortisation is not charged against assets classified as held for sale. Disposal of non-current The Group recognises sales proceeds and any related gain or loss on disposal on completion of the sales process. In determining whether the gain or loss should be recorded, the Group considers whether it: • has a continuing managerial involvement to the degree associated with asset ownership; • has transferred the significant risks and rewards associated with asset ownership; and • can reliably measure and will actually receive the proceeds. Revenue recognition Revenue is recognised at an amount that reflects the consideration to which the Group expects to be entitled in exchange for transferring goods or services to a customer. Fee business revenue Under franchise agreements, the Group’s performance obligation is to provide a licence to use IHG’s trademarks and other intellectual property. Franchise royalty fees are typically charged as a percentage of hotel gross rooms revenues and are treated as variable consideration, recognised as the underlying hotel revenues occur. Under management agreements, the Group’s performance obligation is to provide hotel management services and a licence to use IHG’s trademarks and other intellectual property. Base and incentive management fees are typically charged. Base management fees are typically a percentage of total hotel revenues and incentive management fees are generally based on the hotel’s profitability or cash flows. Both are treated as variable consideration. Like franchise fees, base management fees are recognised as the underlying hotel revenues occur. Incentive management fees are recognised over time when it is considered highly probable that the related performance criteria will be met, provided there is no expectation of a subsequent reversal of the revenue. Application and re-licensing Franchise and management agreements also contain a promise to provide technology support a |
Exchange rates
Exchange rates | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Exchange rates | 1. Exchange rates The results of operations have been translated into US dollars at the average rates of exchange for the year. In the case of sterling, the translation rate is $1=£0.78 (2018: $1=£0.75, 2017: $1=£0.78). In the case of the euro, the translation rate is $1=€0.89 (2018: $1=€0.85, 2017: Assets and liabilities have been translated into US dollars at the rates of exchange on the last day of the year. In the case of sterling, the translation rate is $1=£0.76 (2018: $1=£0.78, 2017: $1=£0.74). In the case of the euro, the translation rate is $1=€0.89 (2018: $1=€0.87, 2017: $1=€0.83). |
Segmental information
Segmental information | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Segmental information | 2. Segmental information The Group has four • Americas; • EMEAA; • Greater China; and • Central. Central functions include technology, sales and marketing, finance, human resources and corporate services; Central revenue arises principally from technology fee income. No operating segments have been aggregated to form these reportable segments. Management monitors the operating results of these reportable segments for the purpose of making decisions about resource allocation and performance assessment. Each of the geographical regions is led by its own Chief Executive Officer who reports to the Group Chief Executive Officer. The System Fund is not viewed as being part of the Group’s core operations as it is not managed to generate a profit or loss for IHG over the longer term. As such, its results are not regularly reviewed by the Chief Operating Decision Maker (CODM) and it does not constitute an operating segment under IFRS 8. Similarly, reimbursements of costs are not reported to the CODM and so are not included within the reportable segments. Segmental performance is evaluated based on operating profit or loss and is measured consistently with operating profit or loss in the Group Financial Statements, excluding System Fund and exceptional items. Group financing activities, fair value gains/(losses) on contingent purchase consideration and income taxes are managed on a Group basis and are not allocated to reportable segments. Revenue Year ended 31 December 2019 2018 2017 Americas 1,040 1,051 999 EMEAA 723 569 457 Greater China 135 143 117 Central 185 170 157 Revenue from reportable segments 2,083 1,933 1,730 System Fund revenues 1,373 1,233 1,242 Reimbursement of costs 1,171 1,171 1,103 Total revenue 4,627 4,337 4,075 Profit Year ended 31 December 2019 2018 2017 Americas (see below) 700 673 648 EMEAA 217 206 175 Greater China 73 70 53 Central (125 ) (117 ) (102 ) Operating profit from reportable segments 865 832 774 System Fund (49 ) (146 ) (34 ) Operating exceptional items (note 6) (186 ) (104 ) 4 Operating profit 630 582 744 Net finance costs (115 ) (96 ) (91 ) Fair value gains/(losses) on contingent purchase consideration 27 (4 ) — Profit before tax 542 482 653 Tax (156 ) (132 ) (118 ) Profit for the year 386 350 535 All items above relate to continuing operations. Operating profit from reportable segments includes business interruption insurance proceeds of $10m in 2019, relating to the Americas region, which is included in ‘other operating income’ in the Group income statement. Assets 31 December 2019 $m 2018 Americas 1,784 1,656 EMEAA a 978 738 Greater China 136 110 Central 772 755 Segment assets 3,670 3,259 Unallocated assets: Derivative financial instruments 1 8 Tax receivable 44 58 Deferred tax assets 66 63 Cash and cash equivalents 195 704 Total assets 3,976 4,092 a Includes assets classified as held for sale of $19m (2018: Liabilities 31 December 2019 2018 Americas (971 ) (995 ) EMEAA a (398 ) (386 ) Greater China (80 ) (61 ) Central (206 ) (225 ) Segment liabilities (1,655 ) (1,667 ) Unallocated liabilities: Loyalty and co-brand (1,339 ) (1,291 ) Loans and other borrowings (2,165 ) (2,014 ) Derivative financial instruments (20 ) — Tax payable (50 ) (50 ) Deferred tax liabilities (118 ) (124 ) Deferred and contingent purchase consideration b (94 ) (77 ) Total liabilities (5,441 ) (5,223 ) a Includes liabilities classified as held for sale of $22m (2018: b Excludes UK portfolio which is included in EMEAA. 2018 has been restated accordingly. Other segmental information Year ended 31 December 2019 Americas $m EMEAA $m Greater China $m Central $m Group $m Capital expenditure (page 153 57 71 — 137 265 Non-cash Depreciation and amortisation a 44 25 5 42 116 Share-based payments cost 9 4 2 13 28 Share of losses/(gains) of associates and joint ventures 9 (6 ) — — 3 Impairment charges 50 81 — — 131 Year ended 31 December 2018 Americas Restated $m EMEAA Restated Greater Restated Central Restated Group Restated Capital expenditure (page 153 74 33 2 142 251 Non-cash Depreciation and amortisation a 46 17 7 45 115 Share-based payments cost 8 4 3 12 27 Share of losses/(gains) of associates and joint ventures 6 (5 ) — — 1 Year ended 31 December 2017 Americas Restated EMEAA Restated Greater Restated Central Restated Group Restated Capital expenditure 120 26 2 202 350 Non-cash Depreciation and amortisation a 42 15 5 50 112 Share-based payments cost 6 4 3 8 21 Share of losses/(gains) of associates and joint ventures 1 (4 ) — — (3 ) Impairment charge 18 — — — 18 a Included in the $ 116 115 112 82 86 78 34 29 34 54 (2018: $49m, 2017: $41m) of depreciation and amortisation was recorded within System Fund expenses. Reconciliation of capital expenditure Year ended 31 December 2019 Americas $m EMEAA $m Greater China $m Central $m Group $m Capital expenditure per management reporting 57 71 — 137 265 Goodwill — 4 — — 4 Contract acquisition costs (27 ) (35 ) — — (62 ) Timing differences and other adjustments 4 1 — (4 ) 1 Additions per the Group 34 41 — 133 208 Comprising additions to: Goodwill and other intangible assets — 4 — 104 108 Property, plant and equipment 19 29 — 29 77 Investment in associates and joint ventures 14 — — — 14 Other financial assets 1 8 — — 9 34 41 — 133 208 Year ended 31 December 2018 Americas Restated EMEAA Restated Greater Restated Central Restated Group Restated Capital expenditure per management reporting 74 33 2 142 251 Contract acquisition costs (32 ) (26 ) — — (58 ) Timing differences and other adjustments 1 — — — 1 Additions per the Group 43 7 2 142 194 Comprising additions to: Intangible assets — — — 112 112 Property, plant and equipment 13 2 2 30 47 Investment in associates and joint ventures 3 — — — 3 Other financial assets 27 5 — — 32 43 7 2 142 194 Geographical information Year ended 31 December 2019 $m 2018 2017 Revenue United Kingdom 265 151 74 United States 1,957 1,950 1,845 China 214 222 201 Rest of World 818 781 713 3,254 3,104 2,833 System Fund (note 33 1,373 1,233 1,242 4,627 4,337 4,075 For the purposes of the above table, hotel and reimbursable revenues are United Kingdom, revenue relating to an individual country is separately disclosed when it represents 10 31 December 2019 $m 2018 Restated Non-current United Kingdom 184 205 United States 1,632 1,643 Rest of World 847 510 2,663 2,358 For the purposes of the above table, non-current right-of-use non-current non-current non-current 10 total non-current |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Revenue | 3. Revenue Disaggregation of revenue The following table presents Group revenue disaggregated by type of revenue stream and by reportable segment: Year ended 31 December 2019 Americas EMEAA Greater $m Central $m Group $m Franchise and base management fees 840 247 87 — 1,174 Incentive management fees 13 90 48 — 151 Central revenue — — — 185 185 Revenue from fee business 853 337 135 185 1,510 Revenue from owned, leased and managed lease hotels 187 386 — — 573 1,040 723 135 185 2,083 System Fund revenues (note 3 3 1,373 Reimbursement of costs 1,171 Total revenue 4,627 Year ended 31 December 2018 Americas EMEAA Greater Central Group Franchise and base management fees 835 227 94 — 1,156 Incentive management fees 18 93 49 — 160 Central revenue — — — 170 170 Revenue from fee business 853 320 143 170 1,486 Revenue from owned, leased and managed lease hotels 198 249 — — 447 1,051 569 143 170 1,933 System Fund revenues (note 3 3 1,233 Reimbursement of costs 1,171 Total revenue 4,337 Year ended 31 December 2017 Americas EMEAA Greater Central Group Franchise and base management fees 795 204 73 — 1,072 Incentive management fees 16 90 44 — 150 Central revenue — — — 157 157 Revenue from fee business 811 294 117 157 1,379 Revenue from owned, leased and managed lease hotels 188 163 — — 351 999 457 117 157 1,730 System Fund revenues (note 33 1,242 Reimbursement of costs 1,103 Total revenue 4,075 Contract balances 2019 $m 2018 Trade receivables (note 18 514 474 Contract assets 334 290 Deferred revenue (1,564 ) (1,506 ) A trade receivable is recorded when the Group has issued an invoice and has an unconditional right to receive payment. In respect of franchise fees, base and incentive management fees, Central revenue and revenues from owned, leased and managed lease hotels, the invoice is typically issued as the related performance obligations are satisfied, as described on page 144 Contract assets (including performance guarantees) Contract assets are recorded in respect of key money payments; the difference, if any, between the face and market value of loans made to owners; and the value of payments under performance guarantees. 2019 $m 2018 At 1 January 290 258 Costs paid 64 58 Recognised as a deduction to revenue (22 ) (19 ) Repayments (1 ) (2 ) Exchange and other adjustments 3 (5 ) At 31 December 334 290 Analysed as: Current 23 20 Non-current 311 270 334 290 At 31 December 2019, the amount of performance guarantees included within trade and other payables was $2m (2018: $3m) and the maximum payout remaining under such guarantees was $85m (2018: $42m). Deferred revenue Deferred revenue is recognised when payment is received before the related performance obligation is satisfied. The main categories of deferred revenue relate to the Loyalty programme, co-branding re-licensing Loyalty programme $m Other co-brand fees $m Application & re-licensing fees $m Other $m Total $m At 1 January 2018 1,057 88 163 49 1,357 Acquisition of businesses — — — 8 8 Increase in deferred revenue 540 — 36 67 643 Recognised as revenue (416 ) (11 ) (23 ) (47 ) (497 ) Exchange and other adjustments — — (1 ) (4 ) (5 ) At 31 December 2018 1,181 77 175 73 1,506 Acquisition of businesses — — — 2 2 Increase in deferred revenue 533 — 26 64 623 Recognised as revenue (481 ) (11 ) (25 ) (49 ) (566 ) Exchange and other adjustments — — (4 ) 3 (1 ) At 31 December 2019 1,233 66 172 93 1,564 At 31 December 2019 Analysed as: Current 476 11 25 43 555 Non-current 757 55 147 50 1,009 1,233 66 172 93 1,564 At 31 December 2018 Analysed as: Current 491 11 23 47 572 Non-current 690 66 152 26 934 1,181 77 175 73 1,506 The table on the previous page does not include amounts which were received and recognised as revenue in the same Loyalty programme revenues, shown gross in the table on the previous page, are presented net of the corresponding redemption cost in the Group income statement. Other deferred revenue includes guest deposits received by owned, leased and managed lease hotels. Transaction price allocated to remaining performance obligations The Group has applied the practical expedient in IFRS 15 not to disclose the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as at the end of the reporting period for all amounts where the Group has a right to consideration in an amount that corresponds directly with the value to the customer of the Group’s performance completed to date (including franchise and management fees). Amounts received and not yet recognised related to performance obligations that were unsatisfied at 31 December 2019 are as follows: 2019 2018 Expected to be recognised in: Loyalty and co-brand $m Other $m Total $m Loyalty and co-brand Other Total Less than one year 487 68 555 502 70 572 Between one and two years 292 34 326 257 31 288 Between two and three years 176 30 206 158 26 184 Between three and four years 115 27 142 106 22 128 Between four and five years 79 27 106 75 20 95 More than five years 150 79 229 160 79 239 1,299 265 1,564 1,258 248 1,506 Contract costs Movements in contract costs, typically developer commissions, are as follows: 2019 $m 2018 At 1 January 60 58 Costs incurred 19 9 Amortisation (7 ) (7 ) At 31 December 72 60 Analysed as: Current 5 5 Non-current 67 55 72 60 |
Staff costs and Directors' emol
Staff costs and Directors' emoluments | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Staff costs and Directors' emoluments | 4. Staff costs and Directors’ emoluments 2019 2018 2017 Staff costs Wages and salaries 1,982 1,956 1,868 Social security costs 131 127 106 Pension and other post-retirement benefits: 27 3 19 5 64 63 61 2,180 2,165 2,040 Analysed as: Costs borne by IHG a 735 708 645 Costs borne by the System Fund b 313 347 339 Costs reimbursed 1,132 1,110 1,056 2,180 2,165 2,040 a Includes $9m (2018: $21m, 2017: $13m) classified as exceptional relating to the comprehensive efficiency programme. In 2018, included $15m classified as exceptional relating to termination of the US funded Inter-Continental Hotels Pension Plan. b Includes $8m (2018: $21m, 2017: $9m) relating to the comprehensive efficiency programme. 2019 2018 2017 Average number of employees, including part-time employees Employees whose costs are borne by IHG: Americas 2,170 2,225 2,149 EMEAA 5,227 3,255 2,267 Greater China 339 324 294 Central 1,900 1,794 1,948 9,636 7,598 6,658 Employees whose costs are borne by the System Fund 4,800 5,214 5,555 Employees whose costs are reimbursed 22,207 22,518 22,577 36,643 35,330 34,790 2019 $m 2018 2017 Directors’ emoluments Base salaries, fees, performance payments and benefits 6.4 7.1 4.9 LOGO More detailed information on the emoluments, pensions, share awards and shareholdings 96 1 09 |
Auditor's remuneration paid to
Auditor's remuneration paid to Ernst & Young LLP | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Auditor's remuneration paid to Ernst & Young LLP | 5. Auditor’s remuneration paid to Ernst & Young LLP 2019 $m 2018 2017 Audit of the Financial Statements a 3.0 3.3 3.0 Audit of subsidiaries 3.2 2.9 2.2 Audit-related assurance services 0.2 0.2 0.2 Other assurance services 1.3 1.3 1.0 Tax compliance — — 0.1 Other non-audit 0.1 0.1 0.2 7.8 7.8 6.7 a Includes $nil (2018: $0.4m, 2017: $0.5m) of additional fees for specific procedures performed in relation to the implementation of new accounting standards. Audit fees in respect of the pension scheme were not material. |
Exceptional items
Exceptional items | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Exceptional items | 6. Exceptional items 2019 $m 2018 2017 Operating exceptional items : Administrative expenses: Acquisition and integration costs (7 ) (15 ) (15 ) Litigation (28 ) (18 ) — Reorganisation costs (20 ) (56 ) (36 ) Pension settlement cost — (15 ) — (55 ) (104 ) (51 ) Other operating income and expenses: Gain on disposal of equity securities measured at fair value (note 17 — — 73 — — 73 Impairment charges: Goodwill (note 13) (49 ) — — Management agreements (note 13 (50 ) — — Right-of-use assets (note 15) (32 ) — — Associates (note 16 — — (18 ) (131 ) — (18 ) Total operating exceptional items (186 ) (104 ) 4 Fair value gains on contingent purchase consideration (note 25) 38 — — Exceptional items before tax (148 ) (104 ) 4 Tax : Tax on exceptional items 20 22 (2 ) Exceptional tax — 5 87 Total tax (note 8) 20 27 85 Operating exceptional items analysed as: Americas (62 ) (36 ) 37 EMEAA (109 ) (12 ) (4 ) Greater China — (1 ) — Central (15 ) (55 ) (29 ) (186 ) (104 ) 4 Acquisition and integration costs Relates to the acquisition s Litigation In 2019, primarily represents management’s best estimate of a settlement in respect of a lawsuit filed against the Group in the Americas region, together with the cost of an arbitration award made against the Group in the EMEAA region. In 2018, primarily related to a material settlement agreed in respect of a lawsuit filed against the Group in the Americas region, together with associated legal fees. Reorganisation costs In September 2017, the Group launched a comprehensive efficiency programme to fund a series of new strategic initiatives to drive an acceleration in IHG’s future growth. The programme is centred around strengthening the Group’s organisational structure to redeploy resources to leverage scale in the highest opportunity markets and segments. The programme was completed in 2019. The cost includes consultancy fees of $ 6 25 , 2017: $24m ) and severance costs of $ 8 18 , 2017: $8m ). An additional $ 28 47 , 2017: $9m ) has been charged to the System Fund. Pension settlement cost Arose from the termination of the US funded Inter-Continental Hotels Pension Plan (see note 27 Tax on exceptional items In 201 9 2018: $ 11m , 2017: $13m), a $6m deferred tax credit in respect of litigation costs (2018: $5m current tax credit), a $1m deferred tax charge representing the net tax impact of the right-of-use asset impairment and the fair value gain on contingent purchase consideration, a $13m deferred tax credit in relation to the management agreement impairment and a $2m prior year deferred tax charge relating to a 2014 disposal. Additionally, in 2018 there was a $6m tax credit ($5m current tax and $1m deferred tax) arising from the US pension settlement, a $2m current tax credit in respect of acquisition and integration costs (2017: deferred tax credit $6m) and a $2m prior year current tax charge on the 2017 Additionally in 2017 there was a $7m deferred tax credit in respect of the impairment charge relating to the InterContinental Barclay associate. Exceptional t In 2018, related $5m regard to impacts re-measurement $32m current tax charge and All items above relate to continuing operations. LOGO The above items are treated as exceptional by reason |
Finance costs
Finance costs | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Finance costs | 7. Finance costs 2019 $m 2018 2017 Financial income Financial income on deposits and money market funds 3 2 1 Interest income on loans and other assets 3 3 3 6 5 4 Financial expenses Interest expense on bonds and syndicated facility 78 61 58 Interest expense on lease liabilities 41 39 39 Capitalised interest (5 ) (5 ) (6 ) Unwind of discount on deferred purchase consideration a 1 1 — Other charges b 6 5 4 121 101 95 a Fair value gains/(losses) on contingent purchase consideration have been disclosed on the face of the Group income statement. The 2018 comparatives have been restated accordingly. b Other charges comprise bank charges and non-bank interest expense. During the year, $13m (2018: $14m, 2017: $7m) was payable to the IHG Rewards Club loyalty programme relating to interest on the accumulated balance of cash received in advance of the consumption of points awarded. The expense and corresponding System Fund interest income are eliminated within financial expenses. C apitalised interest relates The deferred purchase consideration relates to the Regent acquisition (see note 25). |
Tax
Tax | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Tax | 8. Tax Tax on profit 2019 $m 2018 2017 Income tax UK corporation tax at 19.00% (2018: 19.00%, 2017: 19.25%): Current period 5 10 10 Adjustments in respect of prior periods 13 4 (2 ) 18 14 8 Foreign tax: Current period 154 95 210 Benefit of tax reliefs on which no deferred tax previously recognised (2 ) (1 ) (13 ) Adjustments in respect of prior periods (11 ) (13 ) 2 141 81 199 Total current tax 159 95 207 Deferred tax: Origination and reversal of temporary differences 11 39 (8 ) Changes in tax rates and tax laws a 2 1 (56 ) Adjustments to estimated recoverable deferred tax assets b (2 ) (2 ) (9 ) Adjustments in respect of prior periods (14 ) (1 ) (16 ) Total deferred tax (3 ) 37 (89 ) Total income tax charge for the year 156 132 118 Further analysed as tax relating to: Profit before exceptional items c 176 159 203 Exceptional items: Tax on exceptional items (note 6) (20 ) (22 ) 2 Exceptional tax (note 6) — (5 ) (87 ) 156 132 118 a In 2017, predominantly reflects a change in US tax rates following significant US tax reforms. b Represents a reassessment off-balance c Includes $113m (2018: $93m, 2017: $157m) in respect of US taxes All items above relate to continuing operations. Total a Before exceptional items and System Fund b 2019 % 2018 2017 2019 % 2018 2017 Reconciliation of tax charge UK corporation tax at standard rate 19.0 19.0 19.3 19.0 19.0 19.3 Tax credits (0.8 ) (0.5 ) (0.5 ) (0.6 ) (0.3 ) (0.5 ) System Fund c 1.1 5.0 0.9 (0.5 ) (0.5 ) (0.4 ) Impairment charges 1.7 — — — — — Other permanent differences 1.3 0.6 0.8 0.8 0.3 0.6 Non-recoverable foreign taxes d 3.2 0.7 0.3 2.4 0.5 0.3 Net effect of different rates of tax in overseas businesses e 6.7 4.6 14.6 5.5 3.7 13.9 Effects of changes in tax rates resulting from significant US tax reform — — (8.7 ) — — — Release of provision for taxation on unremitted earnings following significant US tax reform — — (7.8 ) — — — Transition tax liability arising from significant US tax reform — — 4.8 — — — Effect of other changes in tax rates and tax laws (0.4 ) 0.3 0.3 (0.3 ) 0.2 0.3 Benefit of tax reliefs on which no deferred tax previously recognised (0.4 ) (0.4 ) (1.9 ) (0.3 ) (0.3 ) (1.8 ) Effect of adjustments to estimated recoverable deferred tax assets (0.4 ) 0.1 (1.4 ) (0.3 ) 0.1 (1.3 ) Adjustment to tax charge in respect of prior periods (2.2 ) (2.0 ) (2.6 ) (1.9 ) (1.0 ) (1.1 ) 28.8 27.4 18.1 23.8 21.7 29.3 a Calculated in relation to total profits including exceptional items and System Fun d b Calculated in relation to profits excluding exceptional items and System Fund earnings. c The System Fund is d In 2018, IHG recognised a benefit in respect of foreign tax credits in the US that were carried back against 2017 tax. In 2019, this carry back benefit is not available which has led to an increase in irrecoverable tax by 1.8 percentage points on the underlying rate before exceptional items and System Fund. These credits are disclosed within unrecognised deferred tax. e Before exceptional items and System Fund includes 4.9 ercentage p oints 4.2 percentage points , percentage points) driven by the relatively high US federal tax rate. A reconciliation between total tax rate and tax rate before exceptional items and System Fund is shown below: 2019 2018 Restated 2017 Restated Profit $m Tax Rate Profit Tax Rate Profit Tax Rate Group income statement 542 156 28.8 482 132 27.4 653 118 18.1 Adjust for: Exceptional items (note 6) 148 20 104 27 (4 ) 85 System Fund 49 — 146 — 34 — Other — — — — — (3 ) 739 176 23.8 732 159 21.7 683 200 29.3 LOGO Information concerning Non-GAAP s 55 to 59 Tax paid Total net tax paid during the year of $141m (2018: $68m, 2017: $172m) comprises $141m (2018: $66m, 2017: $147m) paid in respect of operating activities and $nil (2018: $2m, 2017: $25m) paid in respect of investing activities. A reconciliation of tax paid to the total tax charge in the Group 2019 2018 2017 Current tax charge in the Group (159 ) (95 ) (207 ) Current tax credit in the Group 2 1 — Current tax credit taken directly to equity 4 8 12 Total current tax charge (153 ) (86 ) (195 ) Movements to tax contingencies within the Group a 3 (4 ) (3 ) Timing differences of cash tax paid and foreign exchange differences 9 22 26 Tax paid per cash flow (141 ) (68 ) (172 ) a Tax contingency movements are included within the current tax charge but do not impact cash tax paid in the year. Current tax Within current tax payable is $33m (2018: $29m) in respect of uncertain tax positions. The calculation of the Group’s total tax charge involves consideration of applicable tax laws and regulations in many jurisdictions throughout the world. From time to time, the Group is subject to tax audits and uncertainties in these jurisdictions. The issues involved can be complex and disputes may take a number of years to resolve. Where the interpretation of local tax law is not clear, management relies on judgement and accounting estimates to ensure all uncertain tax positions are adequately provided for in the Group Financial Statements. This may involve consideration of some or all of the following factors: • s • p • e • a The largest single contingency item within the current tax payable balance does not exceed $9m (2018: $8m). Deferred tax Property, Other Application fees and contract costs $m Deferred gains on loan notes $m Deferred gains on investments $m Losses $m Employee benefits $m Undistributed earnings of subsidiaries $m Other short-term temporary differences a Restated $m Total Restated At 1 January 2018 (98 ) (2 ) 25 (34 ) (54 ) 40 20 — 86 (17 ) Group income statement (26 ) (8 ) 4 (1 ) (2 ) (4 ) — (2 ) 2 (37 ) Assets of businesses acquired 4 (11 ) — — — — — — 10 3 Group statement of comprehensive income — — — — — — (2 ) — (2 ) (4 ) Group statement of changes in equity — — — — — — — — (5 ) (5 ) Exchange and other adjustments — — — — — (1 ) — — — (1 ) At 31 December 2018 (120 ) (21 ) 29 (35 ) (56 ) 35 18 (2 ) 91 (61 ) Group income statement — 1 (2 ) 1 (2 ) (9 ) — 2 12 3 Assets of businesses acquired — — — — — — — — 2 2 Group statement of comprehensive income — — — — — — 1 — (1 ) — Exchange and other adjustments 1 1 — — — 1 1 — — 4 At 31 December 2019 (119 ) (19 ) 27 (34 ) (58 ) 27 20 — 104 (52 ) a Primarily relates to provisions, accruals, share-based payments, right-of-use assets, lease liabilities and contingent purchase consideration. Deferred gains on investments represent tax which would crystallise upon a sale of a related joint venture, associate or other equity investment. Deferred gains on loan notes represent tax which is expected to fall due for payment in 2025 (2018: 2025). The deferred tax asset recognised in respect of losses of $27m (2018: $35m) is wholly in respect of revenue losses. A deferred tax asset of $4 m This deferred tax asset has been recognised on the basis of the future expected performance of the entity in question. The closing balance is further analysed by key territory as follows: Property, plant, equipment and software $m Other $m Application fees and contract costs $m Deferred Deferred gains on investments $m Losses $m Employee benefits $m Undistributed earnings of subsidiaries $m Other short-term temporary differences $m Total $m UK 6 5 (1 ) — — 21 4 — 20 55 US (125 ) (18 ) 33 (34 ) (58 ) 1 16 — 74 (111 ) Other — (6 ) (5 ) — — 5 — — 10 4 (119 ) (19 ) 27 (34 ) (58 ) 27 20 — 104 (52 ) The analysis of the deferred tax balance after considering the offset of assets and liabilities within entities where there is a legal right to do so is as follows: 2019 $m 2018 Analysed as: Deferred tax assets 66 63 Deferred tax liabilities (118 ) (124 ) (52 ) (61 ) The Group does not recognise deferred tax assets if it cannot anticipate being able to offset them against future profits or gains. The total unrecognised deferred tax position is as follows: Gross Unrecognised 2019 $m 2018 2019 $m 2018 Revenue losses 413 448 65 67 Capital losses 541 516 95 90 Total losses 954 964 160 157 Foreign tax credits 13 — 13 — Leases 25 25 7 7 Other a 2 24 1 7 994 1,013 181 171 a Primarily relates to costs incurred in prior years for which relief has not been obtained. There is no expiry date to any of the above unrecognised assets other than for the losses and foreign tax credits as shown in the table below: Gross Unrecognised 2019 $m 2018 2019 $m 2018 Expiry date: 2020 2 — — — 2021 31 28 6 6 2022 10 10 2 2 2023 2 1 — — 2024 4 4 1 — 2025 91 92 20 21 After 2025 24 46 17 3 No deferred tax liability has been recognised in respect of $0.9bn (2018: $0.8bn) of taxable temporary differences relating to subsidiaries (comprising undistributed earnings and net inherent gains) because the Group is in a position to control the timing of the reversal of these temporary differences and it is probable that such differences will not reverse in the foreseeable future. Tax risks, policies and governance LOGO Information concerning the Group’s tax governance can be Factors that may affect the future tax charge Many factors will affect the Group’s future tax rate, the key ones being future legislative developments, future profitability of underlying subsidiaries and tax uncertainties. There are many potential future changes to worldwide taxation systems as a result of the potential adoption by individual territories of recommendations of the OECD’s Base Erosion and Profit Shifting project, and other similar initiatives being driven by the OECD, governments and tax authorities. The Group continues to monitor activity in this area. At the current time, the exact detail of the United Kingdom’s exit from the European Union remains unknown. Based upon the Group’s profile and areas that have been publicly discussed, the Group does not anticipate the exit to cause a material impact on its future underlying effective tax rate. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Dividends | 9. Dividends 2019 cents per share 2018 2017 2019 $m 2018 2017 Paid during the year: Final (declared for previous year) 78.1 71.0 64.0 139 130 127 Interim 39.9 36.3 33.0 72 69 62 Special (note 29) 262.1 — 202.5 510 — 404 380.1 107.3 299.5 721 199 593 Proposed (not recognised as a liability at 31 December): Final 85.9 78.1 71 156 141 135 The final dividend of 85.9 |
Earnings per ordinary share
Earnings per ordinary share | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Earnings per ordinary share | 10. Earnings per ordinary share Basic earnings per ordinary share is calculated by dividing the profit for the year available for IHG equity holders by the weighted average number of ordinary shares, excluding investment in own shares, in issue during the year. Diluted earnings per ordinary share is calculated by adjusting basic earnings per ordinary share to reflect the notional exercise of the weighted average number of dilutive ordinary share awards outstanding during the year. Adjusted earnings per ordinary share is disclosed in order to show performance undistorted by exceptional items and changes in the fair value of contingent purchase consideration, to give a more meaningful comparison of the Group’s performance. Additionally, earnings attributable to the System Fund are excluded from the calculation of adjusted earnings per ordinary share, as IHG has an agreement with the IHG Owners Association to spend Fund income for the benefit of hotels in the IHG System such that the Group does not make a gain or loss from operating the Fund over the longer term. IHG also records an interest charge on the outstanding cash balance relating to the IHG Rewards Club programme. These interest payments are recognised as interest income for the Fund and interest expense for IHG. The Fund also benefits from the capitalisation of interest related to the development of the next-generation Guest Reservation System. As the Fund is included in the Group income statement, these amounts are included in reported Group net financial expenses. Given that all results related to the Fund are excluded from the calculation of adjusted earnings per ordinary share, these interest amounts are deducted from profit available for Continuing and total operations 2019 2018 2017 Basic earnings per ordinary share Profit available for equity holders ($m) 385 349 534 Basic weighted average number of ordinary shares (millions) 183 190 193 Basic earnings per ordinary share (cents) 210.4 183.7 276.7 Diluted earnings per ordinary share Profit available for equity holders ($m) 385 349 534 Diluted weighted average number of ordinary shares (millions) 184 192 194 Diluted earnings per ordinary share (cents) 209.2 181.8 275.3 Adjusted earnings per ordinary share Profit available for equity holders ($m) 385 349 534 Adjusting items: System Fund revenues and expenses ($m) 49 146 34 Interest attributable to the System Fund ($m) (18 ) (19 ) (13 ) Tax attributable to the System Fund ($m) — — 3 Operating exceptional items ($m) (note 6) 186 104 (4 ) Change in fair value of contingent purchase consideration ($m) (note 25) a (27 ) 4 — Tax on exceptional items ($m) (note 6) (20 ) (22 ) 2 Exceptional tax ($m) (note 6) — (5 ) (87 ) Adjusted earnings ($m) 555 557 469 Basic weighted average number of ordinary shares (millions) 183 190 193 Adjusted earnings per ordinary share (cents) 303.3 293.2 243.0 Adjusted diluted earnings per ordinary share Adjusted earnings ($m) 555 557 469 Diluted weighted average number of ordinary shares (millions) 184 192 194 Adjusted diluted earnings per ordinary share (cents) 301.6 290.1 241.8 a Adjusted earnings per ordinary share for 2018 has been restated to exclude the change in fair value of contingent purchase consideration. 2019 2018 2017 Diluted weighted average number of ordinary shares is calculated as: Basic weighted average number of ordinary shares 183 190 193 Dilutive potential ordinary shares 1 2 1 184 192 194 LOGO Information concerning Non-GAAP |
Acquisition of businesses
Acquisition of businesses | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Acquisition of businesses | 11. Acquisition of businesses Six Senses On 12 February 2019, the Group acquired a 100% ownership interest in Six Senses Hotels Resorts Spas (Six Senses). Six Senses is a leading operator of top - Six Senses contributed revenue of $38m and an operating loss of $7m for the period between the date of acquisition and the balance sheet date. The results of Six Senses are included in the EMEAA and Greater China reportable segments. If the acquisition had taken place at , there would have been no material difference to reported Group revenue and operating profit for the year ended . The fair values of the identifiable assets acquired and liabilities assumed, and the purchase consideration, have been finalised and reflect facts and circumstances that existed at the date of acquisition: $m Identifiable intangible assets: Brands 189 Management agreements 45 Right-of-use 19 Other non-current 8 Trade and other receivables 12 Cash and cash equivalents 7 Other current assets 1 Trade and other payables (14 ) Lease liabilities (19 ) Other liabilities (2 ) Net identifiable assets acquired 246 Goodwill 58 Total purchase consideration 304 Comprising: Cash paid on acquisition, including working capital settlement 299 Contingent pur chase a 5 304 a Payable upon certain conditions being met relating to a pipeline property. The range of possible outcomes is $ The goodwill is attributable to the global growth opportunities identified for the acquired business. The full At the date of acquisition, the fair value of trade receivables was $8m, with a corresponding carrying value of $10m. The difference between the fair value and the carrying amount reflects the expected credit loss. No contingent liabilities were recognised as a result of the acquisition. UK portfolio – acquisition of additional hotels On 14 February 2019, following on from the UK portfolio deal completed in 2018 to operate 10 UK hotels under long-term leases from Covivio (see below), the Group added a further two hotels to the portfolio bringing the total hotels in the UK portfolio to 12. The total purchase two ho tels purchase . The contingent purchase consideration has been revalued as at 31 December 2019, ( ) The two additional hotels contributed revenue of $15m and an operating profit year December Assets acquired an d liabilities assumed $ income , and a right -of-use asset of $6m offs et by an equal Acquisitions completed in 2018 Regent On 1 July 2018, the Group completed the acquisition of a 51% controlling interest in an agreement with Formosa International Hotels Corporation (FIH) to acquire the Regent Hotels and Resorts brand and associated management agreements (Regent). The Group acquired 51% of the issued share capital of Regent Hospitality Worldwide, Inc (RHW), 100% of the issued share capital of Regent International Hotels Limited and 100% of the issued share capital of Regent Berlin GmbH. Put and call options exist over the remaining 49% shareholding in RHW which are exercisable in a phased manner from 2026. As the decision-making powers related to the remaining shares are not substantive in driving RHW’s returns and FIH do not share in any costs associated with the future development of the Regent brand, it has been determined that the Group has a present ownership interest in the remaining shares. As such, RHW has been accounted for as 100% owned with no non-controlling The total purchase consideration was $88m, comprising $13m paid on acquisition, $22m of deferred purchase purchase The purchase has ( ) The fair value of the net assets acquired was $53m, including brands of $57m and management agreements of $6m. Goodwill recognised was $35m. UK portfolio On 25 July 2018, the Group completed a deal to operate nine hotels under long-term leases from Covivio (formerly Foncière des Régions) which operated under the Principal and De Vere Hotels brands. An additional leased hotel was added to the portfolio on 13 November 2018 bringing the total to 10 at 31 December 2018. The total purchase consideration was $62m, comprising $9m paid on acquisition, a working capital refund of $3m and $56m of contingent purchase T purchase has been revalued as at 31 December 2019, ( ) . The fair value of the net assets acquired was $14m, including property, plant and equipment of $25m and a deferred tax asset of $14m, less deferred revenue of $8m, a stamp duty liability of $14m and net working capital of $6m. Following adoption of IFRS 16, a was Goodwill, initially recognised as $48m, was Goodwill and the right-of-use asset were subsequently impaired during 2019, ( ) Cash flows relating to acquisitions 2019 2018 Cash paid on acquisition, including working capital settlement 299 22 Settlement of stamp duty liability 3 14 Less: cash and cash equivalents acquired (7 ) (2 ) Less: working capital settlement received in year following acquisition (3 ) — Net cash outflow arising on acquisitions 292 34 |
Assets and liabilities classifi
Assets and liabilities classified as held for sale | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Assets and liabilities classified as held for sale | 12. Assets and liabilities classified as held for sale One hotel, the Holiday Inn Melbourne Airport, which is included in the EMEAA business segment, is classified as held for sale at 31 December 2019. During the year, the Group entered into an agreement to sell its interest in the hotel for $2m. The sale and assignment of the lease is expected to complete in early 2020. On reclassification as held for sale there was no change to the carrying value. 2019 Assets and liabilities classified as held for sale Assets classified as held for sale: Property, plant and equipment 3 Right-of-use 15 Trade and other receivables 1 19 Liabilities classified as held for sale: Trade and other payables (2 ) Lease liabilities (20 ) (22 ) |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Goodwill and other intangible assets | 13. Goodwill and other intangible assets Goodwill Brands Software Management Other Total Cost At 1 January 2018 377 193 745 71 13 1,399 Acquisition of businesses (note 11) 83 58 — 6 — 147 Additions — — 107 — 5 112 Capitalised interest — — 5 — — 5 Disposals — — (72 ) — — (72 ) Exchange and other adjustments (5 ) (1 ) (4 ) — — (10 ) At 31 December 2018 455 250 781 77 18 1,581 Acquisition of businesses (note 11) 70 189 — 45 — 304 Additions 4 — 98 — 6 108 Capitalised interest — — 5 — — 5 Disposals — — (22 ) — — (22 ) Exchange and other adjustments — — 2 — (1 ) 1 At 31 December 2019 529 439 864 122 23 1,977 Amortisation and impairment At 1 January 2018 (140 ) — (281 ) (7 ) (4 ) (432 ) Provided — — (36 ) (3 ) (1 ) (40 ) System Fund expense — — (37 ) — — (37 ) Disposals — — 67 — — 67 Exchange and other adjustments (2 ) — 6 — — 4 At 31 December 2018 (142 ) — (281 ) (10 ) (5 ) (438 ) Provided — — (35 ) (3 ) (2 ) (40 ) System Fund expense — — (46 ) — (1 ) (47 ) Impairment charge s (49 ) — — (50 ) — (99 ) Disposals — — 22 — — 22 Exchange and other adjustments 1 — — — — 1 At 31 December 2019 (190 ) — (340 ) (63 ) (8 ) (601 ) Net book value At 31 December 2019 339 439 524 59 15 1,376 At 31 December 2018 313 250 500 67 13 1,143 At 1 January 2018 237 193 464 64 9 967 Goodwill and brands Brands Brands relate to the acquisitions of Kimpton ( ) ( ) ( ) Allocation of goodwill and brands to CGUs The Group’s cash-generating units (CGUs) reflect the Group’s geographical regions, differentiated where material between franchised and managed operations, together with the UK portfolio. The carrying value of goodwill and indefinite life brands were allocated to CGUs for year-end impairment testing purposes as follows: 2019 2018 Goodwill Brands Goodwill Brands CGU Americas Managed 95 289 69 203 Americas Franchised 37 — 37 — EMEAA – Europe Managed 48 46 29 13 EMEAA – Europe Franchised 10 — 10 — EMEAA – rest of region 140 88 113 23 Greater China 9 16 7 11 UK portfolio 49 — — — Allocated to CGUs 388 439 265 250 Unallocated a — — 48 — 388 439 313 250 Less: UK portfolio impairment (49 ) — — — Net book value at 31 December 339 439 313 250 a The UK portfolio goodwill remained unallocated at 31 December 2018 pending completion of the portfolio acquisition in early 2019. Impairment testing other than the UK portfolio The pre-tax pre-tax The terminal growth rates and discount rates used, which are considered to be key assumptions, are as follows: 2019 2018 Terminal Pre-tax Terminal Pre-tax Americas Managed 1.9 9.6 2.0 10.5 Americas Franchised 1.9 8.6 2.0 9.6 EMEAA – Europe Managed 1.5 8.9 2.0 11.4 EMEAA – Europe Franchised 1.5 7.9 2.0 10.5 EMEAA – rest of region 3.3 11.6 3.5 13.4 Greater China 2.5 10.8 2.5 12.3 Impairment was not required at either 31 December 2019 or 31 December 2018. Given the contingency factor applied to the cash flow projections and the significant amounts by which the recoverable amounts of the CGUs exceed their carrying amounts, management have determined that impairment charges would not arise from reasonably possible changes in the key assumptions. UK portfolio For impairment testing of the UK portfolio, which is reported within the EMEAA reportable segment, each hotel is deemed to be a CGU. The 12 individual hotels are treated as a group for impairment testing of goodwill and the IFRS 16 right-of-use asset, as neither of these assets can be allocated to individual hotels other than on an arbitrary basis. The right-of-use ‘in-substance The UK portfolio has experienced trading disruption in the year as a result of renovations and re-branding of these hotels and increasingly challenging trading conditions in 2019. Management has reassessed its short and medium-term forecasts which assume that some disruption continues into 2020, and that hotels see progressive trading improvements when the renovation and re - 40 The same underlying cash flows are used to measure the fair value of the contingent purchase consideration liability, which was reduced by $38m in the year (see note 25) resulting in a corresponding gain in gain The IFRS 16 lease accounting for the UK portfolio is set out in note 15. Software Software includes $288m relating to the development of the next-generation Guest Reservation System with Amadeus. Of this amount , i yet being Phase 2 P hase being amortised o ver 10 , with nine . Substantially all software additions are internally developed. Management agreements Management agreements relate to contracts recognised at fair value on acquisition. The impairment charge of $50m relates to the Kimpton management contract portfolio acquired in 2015 and results from revised expectations regarding future trading, the rate of hotel exits (‘attrition’) and the cost of retaining hotels in the portfolio. The net book value tested for impairment includes related contract assets. The recoverable amount is based on value in use calculations using management fee projections based on near-term industry projected growth rates for the US upper upscale sector and a long-term stabilised growth rate of 2.0%. The projected income flows have been discounted at a rate of 8.0% (2018: 9.0%). The sensitivity of the value in use calculations to changes in key assumptions is disclosed on page 1 40 At 31 December 2019, the net book value and remaining amortisation period of the most significant acquired management agreements were: Net book value Remaining Kimpton 10 20 Six Senses (note 11) 44 30 The weighted average remaining amortisation period for all management agreements 26 years (2018: 25 years). |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Property, plant and equipment | 1 4 Land and Fixtures, Total Cost At 1 January 2018 205 449 654 Acquisition of businesses (note 11) — 26 26 Additions 8 39 47 Fully depreciated assets written off (11 ) (167 ) (178 ) Disposals — (29 ) (29 ) Exchange and other adjustments (3 ) (4 ) (7 ) At 31 December 2018 199 314 513 Acquisition of businesses (note 11) 1 1 2 Additions 9 68 77 Transfers to assets classified as held for sale (note 12) — (12 ) (12 ) Fully depreciated assets written off (2 ) (60 ) (62 ) Disposals — (6 ) (6 ) Exchange and other adjustments — 2 2 At 31 December 2019 207 307 514 Depreciation and impairment At 1 January 2018 (78 ) (326 ) (404 ) Provided (6 ) (34 ) (40 ) System Fund expense — (8 ) (8 ) Fully depreciated assets written off 11 167 178 Disposals — 25 25 Exchange and other adjustments 1 8 9 At 31 December 2018 (72 ) (168 ) (240 ) Provided (3 ) (35 ) (38 ) System Fund expense — (2 ) (2 ) Transfers to assets classified as held for sale (note 12) — 9 9 Fully depreciated assets written off 2 60 62 Disposals — 4 4 At 31 December 2019 (73 ) (132 ) (205 ) Net book value At 31 December 2019 134 175 309 At 31 December 2018 127 146 273 At 1 January 2018 127 123 250 The Group’s property, plant and equipment mainly comprises buildings and leasehold improvements on 26 open hotels (2018: but also offices and computer hardware, throughout the world. The table below analyses the net book value of the Group’s property, plant and equipment by operating segment at 31 December 2019: Americas EMEAA Greater Central Total Land and buildings 120 1 — 13 134 Fixtures, fittings and equipment 43 55 — 77 175 163 56 — 90 309 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | |
Leases | 15. Leases Right-of-use Property Other Total Cost At 1 January 2018 740 10 750 Additions and other re-measurements 19 1 20 Acquisition of businesses (note 11) 51 — 51 Terminations (8 ) (6 ) (14 ) Exchange and other adjustments (10 ) — (10 ) At 31 December 2018 792 5 797 Additions and other re-measurements 39 1 40 Acquisition of businesses (note 11) 25 — 25 Transfers to assets classified as held for sale (note 12) (23 ) — (23 ) Terminations (15 ) (1 ) (16 ) Exchange and other adjustments 4 — 4 At 31 December 2019 822 5 827 Depreciation and impairment At 1 January 2018 (257 ) (7 ) (264 ) Provided (34 ) (1 ) (35 ) System Fund expense (4 ) — (4 ) Terminations 8 6 14 Exchange and other adjustments 5 — 5 At 31 December 2018 (282 ) (2 ) (284 ) Provided (37 ) (1 ) (38 ) System Fund expense (5 ) — (5 ) Impairment charge (32 ) — (32 ) Transfers to assets classified as held for sale (note 12) 8 — 8 Terminations 14 1 15 Exchange and other adjustments (1 ) — (1 ) At 31 December 2019 (335 ) (2 ) (337 ) Net book value At 31 December 2019 487 3 490 At 31 December 2018 510 3 513 At 1 January 2018 483 3 486 The Group’s leased assets mainly comprise hotels and offices. Leases contain a wide range of different terms and conditions. The term of property leases ranges from 1-99 t op right-of-use asset net book value Many of the Group’s property leases contain extension or early termination options, which are used for operational flexibility. Two of the Group’s top ten leases contain material extension options which are not included in the calculation of the lease asset and liability as neither of these extensions would take effect before 2031. The value of the undiscounted rental payments relating to these two leases and not included in the value of the lease asset and liability is $525m. Lease liabilities Total lease liabilities are analysed as follows: Denominated in the following currencies: 2019 2018 US d 514 528 Sterling 52 61 Euros 43 29 Other 51 52 660 670 Analysed as: Current 65 55 Non-current 595 615 660 670 Amounts recognised in profit or loss The following amounts were recognised as expense/(income) in the year: 2019 2018 2017 Depreciation of right-of-use assets 38 35 34 System Fund depreciation of right-of-use assets 5 4 5 Expense relating to variable lease payments 58 48 30 Expense relating to short-term leases and low-value assets 3 3 2 Income from sub-leasing right-of-use assets (2 ) (2 ) (2 ) Impairment charge 32 — — Recognised in operating profit 134 88 69 Interest on lease liabilities 41 39 39 Total recognised in the Group income statement 175 127 108 Amounts recognised in the Group As restated for IFRS 16, total cash paid during the year relating to leases of $159m (2018: $132m, 2017: $87m) comprises $100m (2018: $97m, 2017: $62m) paid in respect of operating activities and $59m (2018: $35m , ) paid in respect of financing activities. Variable lease payments Variable lease payments are payable under certain of the Group’s hotel leases and arise where the Group is committed to making additional lease payments that are contingent on the performance of the hotels . The UK portfolio and two German hotel leases include variable lease payments where rentals are linked to the performance of the hotels by way of reductions in rentals in the event that lower than target cash flows are generated by the hotels. In the event that rent reductions are not applicable, the Group’s exposure to this type of rental payment in excess of amounts reflected in the measurement of lease liabilities is as follows: • UK portfolio: £46m per annum over the remaining lease term of 24 years, • German hotels: €16m per annum over the next six for thereafter Additional rentals, which are uncapped, are also payable in respect of these hotels and are calculated as a percentage of the profit earned by the hotels. The UK and German leases also contain guarantees that the Group will fund any shortfalls in lease payments up to annual and cumulative caps. There are a limited number of options for the Group to top up the guaranteed amount in the event the guarantee is utilised beyond a certain level. Although there are scenarios in which rent reductions would apply such that no rent would be payable, management consider the likelihood of these occurring to be remote. As such, the cumulative guaranteed amount is judged to be an ‘in-substance right-of-use right-of-use , 2017: $1m) was charged to the income statement and total lease payments of $26m (2018: $3m) were charged against the lease liability. The right-of-use by $32m during the year (see note 13) and rental payments of $17m (2018: $3m) were charged against the lease liability in respect of this portfolio. Exposure to future cash outflows At 31 December 2019, the Group was committed 3m (2018: $1m) relating to leases that have not yet commenced. These will be recorded as a d The maturity analysis of lease liabilities is n The undiscounted future cash flows receivable from sub-leased ( 2018: 3m, 2017: $4m ) |
Investment in associates and jo
Investment in associates and joint ventures | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Investment in associates and joint ventures | 16 Associates Joint Total Cost At 1 January 2018 151 27 178 Additions 3 — 3 Share of (losses)/gains (6 ) 5 (1 ) Dividends and distributions (5 ) (32 ) (37 ) Exchange (3 ) — (3 ) At 31 December 2018 140 — 140 Additions 14 — 14 Share of (losses)/gains (3 ) — (3 ) Dividends (7 ) — (7 ) Exchange 1 — 1 At 31 December 2019 145 — 145 Impairment At 1 January 2018 (37 ) — (37 ) Exchange 1 — 1 At 31 December 201 8 (36 ) — (36 ) Exchange 1 — 1 At 31 December 2019 (35 ) — (35 ) Net book value At 31 December 2019 110 — 110 At 31 December 2018 104 — 104 At 1 January 2018 114 27 141 Barclay associate The Group held one 111 East 48th Street Holdings, LLC ‘Barclay associate’) which owns InterContinental New York Barclay (the hotel), a hotel managed by the Group. The hotel reopened for trading in April 2016 following a major renovation. The investment is classified as an associate and equity accounted. Whilst the Group has the ability to exercise significant influence through certain decision rights, approval rights relating to the hotel’s operating and capital budgets rest solely with the 80.1% majority member. The Group’s ability to receive cash dividends is dependent on the hotel generating sufficient income to satisfy specified owner returns. In March 2017, the Group invested $ 43 100 Impairment charges of $18m in 2017, related to the Barclay associate , 10-year Summarised financial information in respect of the Barclay associate is set out below: 31 December 31 December Non-current 515 529 Current assets 75 70 Current liabilities (22 ) (17 ) Non-current (323 ) (319 ) Net assets 245 263 Group share of reported net assets at 19.9 49 52 Adjustments to reflect capitalised costs, and additional rights and obligations under the shareholder agreement 4 7 Carrying amount 53 59 12 months to 12 months to Revenue 108 103 Loss from continuing operations and total comprehensive loss for the period (17 ) (13 ) Group’s share of loss for the period, including the cost of funding owner returns (10 ) (8 ) Other associates and joint ventures The summarised aggregated financial information for individually immaterial associates and joint ventures is set out below. These are mainly investments in entities that own hotels which the Group manages. Associates Joint ventures Total 2019 2018 2017 2019 2018 2017 2019 2018 2017 Share of gains Operating profits before exceptional items 7 2 6 — 5 1 7 7 7 During 2018, the Group received a distribution of $32m from a joint venture following the sale of the hotel owned by the joint venture. |
Other financial assets
Other financial assets | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Other financial assets | 17. Other financial assets 2019 $m 2018 Equity securities : Quoted equity shares 8 8 Unquoted equity shares 125 108 133 116 Restricted funds: Shortfall reserve deposit 25 25 Ring-fenced amounts to satisfy insurance claims: Cash 11 12 Money market funds 16 16 Bank accounts pledged as security 41 40 Other 5 2 98 95 Trade deposits and loans a 57 50 288 261 Analysed as: Current 4 1 Non-current 284 260 288 261 a Includes $3m (2018: $nil) measured at fair value through profit or loss. Equity securities Equity securities are measured at fair value through other comprehensive income and mainly comprise strategic investments in entities that own hotels which the Group manages. The fair value of the most significant investments at 31 December 2019 together with the dividend income received in 2019 is as follows: 2019 Fair value $m Dividend income a Investment in entity which owns: InterContinental The Willard Washington DC 36 1 InterContinental San Francisco 31 2 InterContinental Grand Stanford Hong Kong 23 1 a Reported within ‘other operating income’ in the Group income statement. On 13 December 2017, the sale of Avendra, LLC (Avendra) to Aramark Services, Inc., resulted in the Group receiving cash proceeds of $75m from its 6.29% interest in Avendra and the recording of a $73m exceptional gain in the Group income statement (see note 6 Restricted funds The Amounts ring-fenced to satisfy insurance claims are principally held in the Group’s Captive, which is a regulated entity. Further disclosures are included in note 21. The bank accounts pledged as security (£31m) are subject to a charge in favour of the members of the UK unfunded pension arrangement (see note 27 ) . trustees’ agreement and updated actuarial valuations. The bank accounts will continue to be pledged as security until the date at which the UK unfunded pension liabilities have been fully discharged , unless other wise agreed with the trustees Trade deposits and loans Trade deposits and loans include deposits of $66m (2018: $66m) made to a hotel owner in connection with a portfolio of management agreements. The deposits are non-interest-bearing Credit risk Restricted funds are held with bank counterparties which are rated at least A+ based on Standard and Poor’s ratings. Trade deposits and loans are not past due. The maximum exposure to credit risk of other financial assets at the end of the reporting period by geographic region is as follows: 2019 2018 Americas 169 162 EMEAA 81 68 Greater China 38 31 288 261 |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Trade and other receivables | 18 2019 2018 Current Trade receivables 514 474 Other receivables 37 27 Prepayments 114 108 R eceivables from associates 1 1 666 610 Trade and other receivables are held at amortised cost. Trade receivables are non-interest-bearing 30 days Expected credit losses The ageing of trade and other receivables, excluding prepayments, at the end of the reporting period is: 2019 2018 Gross $m Credit loss allowance $m Net $m Gross Credit loss Net Not past due 400 (3 ) 397 356 (1 ) 355 Past due 1 to 30 days 74 (3 ) 71 71 (1 ) 70 Past due 31 to 90 56 (5 ) 51 52 (2 ) 50 Past due more than 90 days 40 (7 ) 33 34 (7 ) 27 570 (18 ) 552 513 (11 ) 502 Trade and other receivables over 180 days past due are written off, but continue to be actively pursued. The credit risk relating to balances not past due is not deemed to be significant. The movement in the allowance for expected lifetime credit losses of trade and other receivables during the year is as follows: 2019 2018 2017 At 1 January (11 ) (77 ) (69 ) Adjustment arising on adoption of IFRS 9 a — 67 — Provided (20 ) (28 ) (15 ) Amounts written back — — 2 Amounts written off 14 26 6 Exchange adjustments (1 ) 1 (1 ) At 31 December (18 ) (11 ) (77 ) a IFRS 9 was applied from 1 January 2018. Under the transition method chosen, comparative information was not restated. Credit risk The Group trades only with recognised, creditworthy third parties. It is the Group’s policy that all customers who wish to trade on credit terms are subject to credit verification procedures . The maximum exposure to credit risk for trade and other receivables, excluding prepayments, at the end of the reporting period by geographic region is as follows: 2019 2018 Americas 359 325 EMEAA 141 125 Greater China 52 52 552 502 |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Cash and cash equivalents | 19 2019 2018 Cash at bank and in hand 160 202 Short-term deposits — 158 Money market funds 35 76 Repurchase agreements — 268 Cash and cash equivalents as recorded in the Group 195 704 Bank overdrafts (note 22 (87 ) (104 ) Cash and cash equivalents as recorded in the Group 108 600 Cash at bank and in hand includes bank balances of $95m (2018: $106m) which are matched by bank overdrafts of $87m (2018: $104m) under the Group’s cash pooling arrangements. Under these arrangements, each pool contains a number of bank accounts with the same financial institution and the Group pays interest on net overdraft balances within each pool. The cash pools are used for day-to-day Short-term deposits , money market funds and repurchase agreements are highly liquid investments with an original maturity of three months or less. At 31 December 2019, $6m (2018: $nil) is restricted for use on capital expenditure in the UK portfolio and therefore not available for wider use by the Group. An additional $16m (2018: $2m) is held within countries from which funds are not currently able to be repatriated to the Group’s central treasury company. Details of the credit risk on cash and cash equivalents is included in note 24. |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Trade and other payables | 20 2019 2018 Current Trade payables 90 132 Other tax and social security payable 42 44 Other payables 97 94 Contingent purchase consideration 1 7 Accruals 338 339 568 616 Non-current Other payables 3 1 Deferred purchase consideration 23 22 Contingent purchase consideration 90 102 116 125 Deferred purchase consideration relates to the acquisition of Regent and contingent purchase consideration relates to the acquisitions of Regent, the UK portfolio and Six Senses (see note 25). |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Provisions | 21 Security i $m Litigation $m Insurance reserves $m Total $m At 1 January 2018 5 3 — 8 Reclassification from other trade and other payables — — 25 25 (Released)/provided (2 ) (1 ) 7 4 Utilised (3 ) — (7 ) (10 ) At 31 December 2018 — 2 25 27 Provided — 30 13 43 Utilised — — (8 ) (8 ) At 31 December 2019 — 32 30 62 2019 $m 2018 Analysed as: Current 40 10 Non-current 22 17 62 27 Litigation The litigation provision, which mainly relates to amounts charged during the year as described in note 6, is expected to be utilised within 12 months. There are certain indemnities and claims that the Group will be able to pursue in relation to these matters, although it is not practicable to quantify the amounts at this point in time. Insurance reserves The Group self-insures certain risks relating to its corporate operations and owned and leased properties, and also acts as third-party insurer for certain risks of its managed hotels. The insurance reserves held mainly relate to general liability, workers compensation, US medical and employment practices liability insurances. The amounts are based on reserves held principally in the Group’s captive insurance company, SCH Insurance Company (SCHIC), and are established using independent actuarial assessments wherever possible, or a reasonable assessment based on past claims experience. Over and above the actuarially determined reserves, the Group is potentially exposed to claims with individual caps which do not exceed $4m for periods prior to 2011 and up to $25m i n Amounts utilised within the reserves are paid to a third-party insurer for subsequent settlement with the claimant. In order to protect the third-party insurer against the solvency risk of SCHIC, the Group has outstanding letters of credit (see note 31 In respect of the managed hotels, the Group received insurance premiums : m, 2017: $9m) and incurred claims expense of $18m (2018: $10 m, 2017: $9m). Insurance premiums earned are included in Central revenue. |
Loans and other borrowings
Loans and other borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Loans and other borrowings | 22 2019 2018 Current Non-current Total Current Non-current Total Unsecured bank loans — 125 125 — — — £400m 3.875% bonds 2022 — 528 528 — 509 509 £300m 3.75% bonds 2025 — 399 399 — 385 385 £350m 2.125% bonds 2026 — 462 462 — 447 447 €500m 2.125% bonds 2027 — 564 564 — 569 569 — 2,078 2,078 — 1,910 1,910 Bank overdrafts 87 — 87 104 — 104 Total loans and other borrowings 87 2,078 2,165 104 1,910 2,014 Denominated in the following currencies: Sterling 2 1,389 1,391 — 1,341 1,341 US dollars 82 125 207 94 — 94 Euros 1 564 565 8 569 577 Other 2 — 2 2 — 2 87 2,078 2,165 104 1,910 2,014 Unsecured bank loans Unsecured bank loans are borrowings under the Group’s Syndicated and Bilateral Facilities. Amounts are classified as non-current The Syndicated Facility comprises a $1,275m five-year revolving credit facility maturing in March 2022. The Bilateral Facility comprises a $75m revolving credit facility maturing in March 2022. The Bilateral Facility contains the same terms and covenants as the Syndicated Facility (see note 24 A variable rate of interest is payable on amounts drawn under both facilities, which was 2.42% £400m 3.875% bonds 2022 The 3.875% fixed interest sterling bonds were issued on 28 November 2012 and are repayable in full on 28 November 2022 £300m 3.75% bonds 2025 The 3.75 14 August 2015 14 August 2025 99.014 £350m 2.125% bonds 2026 The 2.125 24 August 2026 99.45 €500m 2.125% bonds 2027 The 2.125 15 May 2027 99.53 24 Bank overdrafts Bank overdrafts are matched by equivalent amounts of cash and cash equivalents under the Group’s cash pooling arrangements (see note 19 Facilities provided by banks 2019 2018 Utilised Unutilised Total Utilised Unutilised Total Committed 125 1,225 1,350 — 1,350 1,350 Uncommitted — 54 54 — 53 53 125 1,279 1,404 — 1,403 1,403 2019 $m 2018 Unutilised facilities expire: Within one year 54 53 After two but before five years 1,350 1,350 1,404 1,403 Utilised facilities are calculated based on actual drawings and may not agree to the carrying value of loans held at amortised cost. |
Net debt
Net debt | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Net debt | 23. Net debt 2019 2018 Cash and cash equivalents 195 704 Loans and other borrowings – current (87 ) (104 ) – non-current (2,078 ) (1,910 ) Lease liabilities – current (65 ) (55 ) – non-current (595 ) (615 ) – classified as held for sale (note 12) (20 ) — Derivative financial instruments hedging debt values (note 24) (15 ) 15 Net debt (2,665 ) (1,965 ) Movement in net debt Net (decrease)/increase in cash and cash equivalents, net of overdrafts (500 ) 563 Add back cash flows in respect of other components of net debt: Principal element of lease payments 59 35 Issue of long-term bonds, including effect of currency swaps — (554 ) (Increase)/decrease in other borrowings (127 ) 268 (Increase)/decrease in net debt arising from cash flows (568 ) 312 Non-cash Lease obligations (43 ) (27 ) Increase in accrued interest (7 ) (3 ) Acquisition of businesses (note 11) (25 ) (51 ) Exchange and other adjustments (57 ) 57 (Increase)/decrease in net debt (700 ) 288 Net debt at beginning of the year (1,965 ) (2,253 ) Net debt at end of the year (2,665 ) (1,965 ) LOGO Information concerning Non-GAAP can be found in the Strategic Report on pages 55 to 59. Loans and other borrowings (excluding bank overdrafts), lease liabilities, and currency swaps comprise the liabilities included in the financing activities section of the Group statement of cash flows and their movements are analysed as follows: At 1 January Financing Exchange Acquisition Other At 31 December Unsecured bank loans — 127 (2 ) — — 125 Lease liabilities 670 (59 ) 1 25 43 680 £400m 3.875% bonds 2022 509 — 18 — 1 528 £300m 3.75% bonds 2025 385 — 13 — 1 399 £350m 2.125% bonds 2026 447 — 15 — — 462 €500m 2.125% bonds 2027 569 — (12 ) — 7 564 2,580 68 33 25 52 2,758 Currency swaps (7 ) — — — 27 20 2,573 68 33 25 79 2,778 At 1 January Financing Exchange Acquisition Other At 31 December Unsecured bank loans 262 (268 ) 3 — 3 — Lease liabilities 633 (35 ) (6 ) 51 27 670 £400m 3.875% bonds 2022 538 — (30 ) — 1 509 £300m 3.75% bonds 2025 406 — (23 ) — 2 385 £350m 2.125% bonds 2026 472 — (26 ) — 1 447 €500m 2.125% bonds 2027 — 559 9 — 1 569 2,311 256 (73 ) 51 35 2,580 Currency swaps: Exchange of principal — (5 ) — — (2 ) (7 ) Initial fee received — 3 — — (3 ) — — (2 ) — — (5 ) (7 ) 2,311 254 (73 ) 51 30 2,573 |
Financial risk management and d
Financial risk management and derivative financial instruments | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Financial risk management and derivative financial instruments | 24. Financial risk management and derivative financial instruments Overview The Group is exposed to financial risks that arise in relation to underlying business activities. These risks include: market risk, liquidity risk, credit risk and capital risk. There are Board approved policies in place to manage these risks. Treasury activities to manage these risks may include money market investments, repurchase agreements, spot and forward foreign exchange instruments, currency swaps, interest rate swaps and forward rate agreements. Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises: foreign exchange risk and interest rate risk. Financial instruments affected by market risk include loans and other borrowings, cash and cash equivalents, Foreign exchange risk The US dollar is the predominant currency of the Group’s revenue and cash flows. Movements in foreign exchange rates can affect the Group’s reported profit, net liabilities and its interest cover. The most significant exposures of the Group are in currencies that are freely convertible. The Group’s reported debt has an exposure to borrowings held in sterling and euros. The Group holds its bond debt in sterling which is the primary currency of shareholder returns and to minimise exchange risk in its holding companies. US dollars are also borrowed to reflect the predominant trading currency and to act as a net investment hedge of US dollar denominated assets. The Group transacted currency swaps in 2018 at the same time as the €500m 2.125% bonds were issued in November 2018 in order to swap the bonds’ proceeds and interest flows into sterling (see page 183). From time to time, the Group hedges a portion of forecast foreign currency income by taking out forward exchange contracts. There were no such contracts in place at either 31 December 2019 or 31 December 2018. Interest rate risk The Group is exposed to interest rate risk in relation to its fixed and floating rate borrowings. The Group’s policy requires a minimum of 50% fixed rate debt over the next 12 months. With the exception of overdrafts, 94% of borrowings were fixed rate debt at 31 December 2019 (2018: 100%). If required, the Group uses interest rate swaps to manage interest rate risk. The Group designates interest rate swaps as cash flow hedges. No interest rate swaps were used to manage interest rate exposure during 2019, 2018, or 2017. Derivative financial instruments Derivatives are recorded in the Group statement of financial position at fair value ( see 5 ) follows Hedging instrument Hedged risk Hedge classification 2019 2018 Currency swaps Foreign exchange Cash flow hedge (20 ) 7 Short-dated foreign exchange swaps Foreign exchange Net investment hedge 1 1 (19 ) 8 Analysed as: Non-current — 7 Current assets 1 1 Non-current liabilities (20 ) — (19 ) 8 The carrying amount of currency swaps of ( ) loss ) ), loss ) Details of the credit risk on derivative financial instruments are included on page 185. Cash flow hedges The currency swaps were transacted at the same time as the €500m 2.125% bonds were issued in November 2018 . with interest % payable on the s The change in the fair value of hedging instruments used to measure hedge ineffectiveness in the period mirrors that of the hypothetical derivative (hedged item) and was $30m (2018: $9m). Hedge ineffectiveness may occur due to any opening fair value of the hedging instrument, or a change in the credit risk of the Group or counterparty. There was no ineffectiveness in 2019 or 2018. Amounts recognised in the cash flow hedging reserve are analysed in note 2 9 Net investment hedges The Group designates the following as net investment hedges of its foreign operations, being the net assets of certain Group subsidiaries with a US dollar functional currency: • Borrowings under the Syndicated and Bilateral Facilities; and • Short-dated foreign exchange swaps. The designated risk is the spot foreign exchange risk and interest on these financial instruments is taken through financial income or expense. S are used teste d for effectiveness . There is an economic relationship between the hedged item and the hedging instrument as the net investment creates a translation risk that will match the foreign exchange risk on the USD borrowing. The Group has established a hedge ratio of 1:1 as the underlying risk of the hedging instrument is identical to the hedged risk component. The change in value of hedging instruments recognised in the currency translation reserve through other comprehensive income was $2m loss (2018: $21m loss). There wa Interest and foreign exchange risk sensitivities The following table shows the impact of a general strengthening in the US dollar against sterling and euro on the Group’s profit before tax and net liabilities, and the impact of a rise in US dollar, euro and sterling interest rates on the Group’s profit before tax. The impact of the strengthening in the euro against sterling on net liabilities is also shown, as this impacts the fair value of the currency swaps. 2019 2018 2017 a $m Increase/(decrease) in profit before tax Sterling: US dollar exchange rate 5¢ fall 4.0 4.1 4.0 Euro: US dollar exchange rate 5¢ fall (2.6 ) (2.4 ) (2.1 ) US dollar interest rates 1% increase (1.6 ) (0.9 ) (2.9 ) Sterling interest rates 1% increase 0.6 5.5 0.3 Decrease/(increase) in net liabilities Sterling: US dollar exchange rate 5¢ fall 39.9 25.9 44.1 Euro: US dollar exchange rate 5¢ fall 24.1 23.8 (4.1 ) Sterling: euro exchange rate 5¢ fall 33.0 31.9 — a As the change in sensitivities due to adoption of IFRS 16 is insignificant, 2017 has not been restated. The impact of a weakening in the US dollar or a fall in interest rates would be the reverse of the above values. Interest rate sensitivities include the impact of hedging and are calculated based on the year-end Liquidity risk Group policy ensures sufficient liquidity is maintained to meet all foreseeable medium-term cash requirements and provide headroom against unforeseen obligations. Cash and cash equivalents are ( see note 19 Medium and long-term borrowing requirements are met through committed bank facilities and bonds as detailed in note 22 The Syndicated and Bilateral Facilities contain two Covenants are monitored on a ‘frozen GAAP’ basis excluding the impact of IFRS 16. The Group has been in compliance with all of the financial covenants in its loan documents throughout the year and expects to continue to have significant headroom for the foreseeable future. The following are the undiscounted contractual cash flows of financial liabilities, including interest payments. The payment profile of contingent purchase Less than 1 year $m Between 1 and 2 years $m Between 2 and 5 years $m More than 5 years $m Total $m 31 December 2019 Non-derivative Bank overdrafts 87 — — — 87 Unsecured bank loans 125 — — — 125 £400m 3.875% bonds 2022 21 21 548 — 590 £300m 3.75% bonds 2025 15 15 45 411 486 £350m 2.125% bonds 2026 10 10 29 482 531 €500m 2.125% bonds 2027 12 12 36 597 657 Lease liabilities 97 116 193 3,451 3,857 Trade and other payables (excluding deferred and contingent purchase consideration) 567 1 1 1 570 Deferred and contingent purchase consideration 3 20 19 120 162 Derivative financial liabilities: Forward foreign exchange contracts (1 ) — — — (1 ) Currency swaps hedging €500m 2.125% bonds 2027 outflows 20 20 61 627 728 Currency swaps hedging €500m 2.125% bonds 2027 inflows (12 ) (12 ) (36 ) (597 ) (657 ) Less than Restated Between Restated Between Restated More than Restated Total Restated 31 December 2018 Non-derivative Bank overdrafts 104 — — — 104 £400m 3.875% bonds 2022 20 20 550 — 590 £300m 3.75% bonds 2025 14 14 43 412 483 £350m 2.125% bonds 2026 10 10 28 475 523 €500m 2.125% bonds 2027 6 12 37 621 676 Lease liabilities 93 93 226 3,479 3,891 Trade and other payables (excluding deferred and contingent purchase consideration) 609 — 1 — 610 Deferred and contingent purchase consideration 7 8 37 262 314 Derivative financial liabilities: Forward foreign exchange contracts (1 ) — — — (1 ) Currency swaps hedging €500m 2.125% bonds 2027 outflows 20 20 58 625 723 Currency swaps hedging €500m 2.125% bonds 2027 inflows (6 ) (12 ) (37 ) (621 ) (676 ) Credit risk Cash and cash equivalents and derivatives Credit risk on cash and cash equivalents is minimised by operating a policy on the investment of surplus cash that generally restricts counterparties to those with a BBB credit rating or better or those providing adequate security. The Group uses long-term credit ratings from Standard and Poor’s, Moody’s and Fitch Ratings as a basis for setting its counterparty limits. In order to manage the Group’s credit risk exposure, the treasury function sets counterparty exposure limits using metrics including credit ratings, the relative placing of credit default swap pricings, tier 1 capital and share price volatility of the relevant counterparty. The Group’s cash and cash equivalents held in money market funds was invested in funds with a AAA credit rating at 31 December 2019. Exposure to credit risk The Group’s exposure to credit risk arises from default of the counterparty, with the maximum exposure equal to the carrying amount of each financial asset, including derivative financial instruments. Expected credit losses Cash at bank and in hand, short-term deposits, trade and other receivables and those other financial assets which are classified and measured at amortised cost are subject to the expected credit loss model requirements of IFRS 9. With the exception of trade and other receivables (see note 18) the expected credit loss is considered to be immaterial. Capital risk management The Group manages its capital to ensure that it will be able to continue as a going concern. The capital structure consists of net debt, issued share capital and reserves totalling $1,192m at 31 December 2019 (2018: $826m restated). The structure is managed to maintain an investment grade credit rating, to provide ongoing returns to shareholders and to service debt obligations, whilst maintaining maximum operational flexibility. A key characteristic of IHG’s managed and franchised business model is that it is highly cash generative, with a high return on capital employed. Surplus cash is either reinvested in the business, used to repay debt or returned to shareholders. The Group’s debt is monitored on the basis of a cash flow leverage ratio, being net debt divided by EBITDA, with the objective of maintaining an investment grade credit rating. |
Classification and measurement
Classification and measurement of financial instruments | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Classification and measurement of financial instruments | Accounting classification 2019 $m 2018 Restated Financial assets Financial assets measured at fair value through other comprehensive income: Equity securities (note 1 7 133 116 Financial assets measured at fair value through profit or loss: Money market funds: Cash and cash equivalents (note 19) 35 76 Other financial assets (note 17) 16 16 Other financial assets (note 17) 3 — Derivative financial instruments (note 24) 1 8 55 100 Financial assets measured at amortised cost: Cash and cash equivalents (note 19) 160 628 Other financial assets (note 17) 136 129 Trade and other receivables, excluding prepayments (note 18) 552 502 848 1,259 Financial liabilities Financial liabilities measured at fair value through profit or loss: Contingent purchase consideration (note 20) (91 ) (109 ) Derivative financial instruments (note 24) (20 ) — (111 ) (109 ) Financial liabilities measured at amortised cost: Loans and other borrowings (note 22) (2,165 ) (2,014 ) Trade and other payables, excluding deferred and contingent purchase consideration (note 20) (570 ) (610 ) Deferred purchase consideration (note 20) (23 ) (22 ) (2,758 ) (2,646 ) Right of offset Other than in relation to cash pooling arrangements (see note 19), there are no financial instruments with a significant fair value subject to enforceable master netting arrangements and other similar agreements that are not offset in the Group statement of financial position. Fair values – hierarchy and valuation techniques Fair value hierarchy The following table provides the carrying value, fair value and position in the fair value measurement hierarchy of the Group’s financial assets and liabilities. Financial assets and financial liabilities measured at amortised cost are only included if their carrying amount is not a reasonable approximation of fair value. 2019 2018 Restated Fair value Fair value Carrying Level 1 Level 2 Level 3 Total $m Carrying Level 1 Level 2 Level 3 Total Assets Equity securities 133 8 — 125 133 116 8 — 108 116 Derivative financial instruments 1 — 1 — 1 8 — 8 — 8 Money market funds 51 51 — — 51 92 92 — — 92 Trade deposits and loans 3 — — 3 3 — — — — — Liabilities Derivative financial instruments (20 ) — (20 ) — (20 ) — — — — — Contingent purchase consideration (91 ) — — (91 ) (91 ) (109 ) — — (109 ) (109 ) Deferred purchase consideration (23 ) (24 ) — — (24 ) (22 ) (22 ) — — (22 ) £400m 3.875% bonds 2022 (528 ) (567 ) — — (567 ) (509 ) (543 ) — — (543 ) £300m 3.75% bonds 2025 (399 ) (435 ) — — (435 ) (385 ) (399 ) — — (399 ) £350m 2.125% bonds 2026 (462 ) (465 ) — — (465 ) (447 ) (417 ) — — (417 ) €500m 2.125% bonds 2027 (564 ) (601 ) — — (601 ) (569 ) (566 ) — — (566 ) There were no transfers between Level 1 and Level 2 fair value measurements during the year and no transfers into and out of Level 3. Valuation techniques Quoted equity securities, money market funds and bonds The fair value of quoted equity shares, money market funds and the bonds is based on their quoted market price. Unquoted equity shares Unquoted equity securities are fair valued using the International Private Equity and Venture Capital Valuation Guidelines either by applying an average price-earnings (P/E) ratio for a competitor group to the earnings generated by the investment or by reference to share of net assets if the investment is currently loss-making or a recent property valuation is available. The average P/E ratio for the year was 23.2 (2018: 19.9) and a non-marketability wa The significant unobservable inputs used to determine the fair value of the shares are the P/E ratio, non-marketability five non-marketability Derivative financial instruments Derivatives are fair valued using discounted future cash flows, taking into consideration exchange rates prevailing on the last day of the reporting period and interest rates from observable swap curves. Currency swaps are measured at the present value of future cash flows estimated and discounted back based on quoted forward exchange rates and the applicable yield curves derived from quoted interest rates. Adjustments for credit risk use observable credit default swap spreads. Deferred purchase consideration Deferred purchase consideration ar o payable in 2024. The discount rate applied is based on observable US corporate bond rates of similar term to the expected payment dates. Contingent purchase consideration Regent $66m (2018: $55m) Comprises the present value of the expected amounts payable on exercise of the put and call options to acquire the remaining 49% shareholding in Regent (see note 11). The amount payable on exercise of the options is based on the annual trailing revenue of RHW (see page 136) in the year preceding exercise, with a floor applied. The options are exercisable in a phased manner from 2026 to 2033. The value of the contingent purchase consideration is subject to periodic reassessment as interest rates and RHW revenue expectations change. The range of possible outcomes remains unchanged from the date of acquisition at $ At 31 December 2019, it is assumed that $39m will be paid in 2026 to acquire an additional 25% of RHW with the remaining 24% acquired in 2028 for $42m. This assumes that the options will be exercised at the earliest permissible date which is consistent with the assumption made on acquisition. The amount recognised in the financial statements is the discounted value of the total expected amount payable of $81m. The discount rate applied is based on observable US corporate bond rates of similar term to the expected payment dates. The significant unobservable inputs used to determine the fair value of the contingent purchase consideration are the projected trailing revenues of RHW and the date of exercising the options. If the annual trailing revenue of RHW were to exceed the floor by 10%, the amount of the contingent purchase consideration recognised in the Group Financial Statements would increase by $7m (2018: $5m). If the date for exercising the options is assumed to be 2033, the amount of the undiscounted contingent purchase consideration would be $86m (2018: $86m). UK portfolio $20m (2018: $54m) Comprises the present value of the above-market element of the expected lease payments to Covivio (see note 11). The above-market assessment is determined by comparing the expected lease payments as a percentage of forecast hotel operating profit (before depreciation and rent) with market metrics, on a hotel by hotel basis. There is no floor to the amount payable and no maximum amount. Market rents were initially determined with assistance of professional third-party advisors. The fair value is subject to periodic reassessment A fair value adjustment of $ 38m was recognised in the year, resulting in a reduction to the value of the liability arising mainly from a reduction in expected future rentals payable. Forecast base rentals have been discounted at 9.25% based on the CBRE prime freehold regional yield benchmark, adjusted to reflect rental growth, the leasehold nature of the assets and variable rental structure. Forecast profit share rentals have been discounted at 9.7% based on the Group’s cost of capital, adjusted upwards to reflect the higher degree of variability inherent in the profit share rentals. The significant unobservable inputs used to determine the fair value of the contingent purchase consideration are the projected lease payments and the discount rates used. The impact of changes in these assumptions is detailed on page 1 40 Six Senses $5m (2018: $nil) It is expected that $5m will be payable upon certain conditions being met relating to a project to open a pipeline property, currently expected to be paid in 2021. If the conditions are not met, no amounts will be paid. The impact of discounting is not material. Level 3 reconciliation The following table reconciles the movements in the fair values of financial instruments classified as Level 3 during the year: Other financial Contingent purchase assets consideration $m $m At 1 January 2018 117 — Additions 4 — Acquisition of businesses (note 11) — (109 ) Disposals (1 ) — Valuation losses recognised in other comprehensive income (10 ) — Contingent purchase consideration paid, included in net cash from investing activities — 4 Change in fair value — (4 ) Exchange and other adjustments (2 ) — At 31 December 2018 108 (109 ) Additions 8 — Acquisition of businesses (note 11) 1 (15 ) Disposals (1 ) — Valuation gains recognised in other comprehensive income 12 — Contingent purchase consideration paid: Included in net cash from operating activities — 6 Included in net cash from investing activities — 2 Change in fair value (of which $38m is recorded within exceptional items) — 27 Exchange and other adjustments — (2 ) At 31 December 2019 128 (91 ) |
Reconciliation of profit for th
Reconciliation of profit for the year to cash flow from operations before contract acquisition costs | 12 Months Ended |
Dec. 31, 2019 | |
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Reconciliation of profit for the year to cash flow from operations before contract acquisition costs | 2 6 2019 2018 2017 Profit for the year 386 350 535 Adjustments for: Net financial expenses 115 96 91 Fair value (gains)/losses on contingent purchase consideration (27 ) 4 — Income tax charge (note 8) 156 132 118 Depreciation and amortisation 116 115 112 System Fund depreciation and amortisation 54 49 41 Impairment charges (note 6) 131 — 18 Other operating exceptional items (including System Fund) (note 6) 83 151 (13 ) Share-based payments cost 42 38 27 Dividends from associates and joint ventures (note 1 6 7 5 4 Increase in trade and other receivables (50 ) (43 ) (71 ) Increase in contract costs (11 ) (3 ) (5 ) Increase in deferred revenue 57 141 43 (Decrease)/increase in trade and other payables (63 ) 11 38 Utilisation of provisions, net of charge (note 2 1 7 (6 ) — Retirement benefit contributions, net of costs (3 ) (12 ) (1 ) Cash flows relating to exceptional items (55 ) (137 ) (44 ) Contract assets deduction in revenue 21 19 17 Other items 2 4 (4 ) Total adjustments 582 564 371 Cash flow from operations before contract acquisition costs 968 914 906 |
Retirement benefits
Retirement benefits | 12 Months Ended |
Dec. 31, 2019 | |
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Retirement benefits | 2 7 UK Since 6 August 2014, UK retirement and death in service benefits are provided for eligible employees by the IHG UK Defined Contribution Pension Plan. Members, including those who have been auto-enrolled since 1 September 2013, are provided with defined contribution arrangements under this plan; benefits are based on each individual member’s personal account. The plan is HM Revenue and Customs registered and governed by an independent trustee, assisted by professional advisers as and when required. The overall operation of the plan is subject to the oversight of The Pensions Regulator. The former defined benefit plan, the InterContinental Hotels UK Pension Plan, was wound up on 21 July 2015 following the completion of the buy-out and transfer of the defined benefit obligations to Rothesay Life on 31 October 2014. Residual defined benefit obligations remain in respect of additional benefits provided to members of an unfunded pension arrangement (UK plan) who were affected by lifetime or annual allowances under the former defined benefit arrangements. Accrual under this arrangement ceased with effect from 1 July 2013 and a cash-out offer in 2014 resulted in the extinguishment of approximately 70% of the unfunded pension obligations. The Company meets the benefit payment obligations of the remaining members as they fall due. A charge over certain ring-fenced bank accounts totalling $ 7 US During 2018, the Group completed a termination of the US funded Inter-Continental Hotels Pension Plan (the Plan), which involved certain qualifying members receiving lump-sum cash-out payments of $ 20 The Group continues to maintain the unfunded Inter-Continental Hotels Non-qualified Pension Plans (US plans) and unfunded Inter-Continental Hotels Corporation Postretirement Medical, Dental, Vision and Death Benefit Plan (US post-retirement plan), both of which are defined benefit plans. Both plans are closed to new members. A Retirement Committee, comprising senior Company employees and assisted by professional advisors as and when required, has responsibility for oversight of the plans. Other The Group also operates a number of smaller pension schemes outside the UK, the most significant of which is a defined contribution scheme in the US; there is no material difference between the pension costs of, and contributions to, these schemes. Defined benefit obligation Fair value of plan assets Net defined benefit liability/(asset) 2019 2018 2017 2019 2018 2017 2019 2018 2017 $m $m $m $m $m $m $m $m $m At 91 250 244 — (152 ) (148 ) 91 98 96 Recognised in profit or loss Interest expense/(income) 3 6 9 — (2 ) (5 ) 3 4 4 Administration costs — — — — — 1 — — 1 Exceptional item: settlement loss — 14 — — 1 — — 15 — 3 20 9 — (1 ) (4 ) 3 19 5 Recognised in other comprehensive income Actuarial loss/(gain) arising from changes in: Demographic assumptions (1 ) — (1 ) — — — (1 ) — (1 ) Financial assumptions 9 (14 ) 9 — — — 9 (14 ) 9 Experience adjustments (1 ) (3 ) 2 — — — (1 ) (3 ) 2 Return on plan assets — — — — 8 (9 ) — 8 (9 ) Re-measurement loss/(gain) 7 (17 ) 10 — 8 (9 ) 7 (9 ) 1 Exchange adjustments 1 (1 ) 2 — — — 1 (1 ) 2 8 (18 ) 12 — 8 (9 ) 8 (10 ) 3 Other Company contributions — — — (6 ) (16 ) (6 ) (6 ) (16 ) (6 ) Benefits paid (6 ) (11 ) (15 ) 6 11 15 — — — Settlement payments — (150 ) — — 150 — — — — (6 ) (161 ) (15 ) — 145 9 (6 ) (16 ) (6 ) At 96 91 250 — — (152 ) 96 91 98 Comprising: UK unfunded plan 26 24 29 — — — 26 24 29 US unfunded plans 48 45 51 — — — 48 45 51 US funded plan — — 146 — — (152 ) — — (6 ) US unfunded post-retirement plans 22 22 24 — — — 22 22 24 96 91 250 — — (152 ) 96 91 98 Defined benefit obligation Fair value of plan assets Net defined benefit liability/(asset) 2019 2018 2017 2019 2018 2017 2019 2018 2017 $m $m $m $m $m $m $m $m $m Movement in asset restriction At 1 January — — — — 3 — — 3 — Recognised in other comprehensive income — — — — (3 ) 3 — (3 ) 3 At 31 December — — — — — 3 — — 3 At 31 December 2017, there was a net defined benefit liability of $ 101 comprised of a net retirement benefit asset of $ 3 (after the asset restriction of $3m ) and a retirement benefit obligation of $ 104 For the years ended 31 December 2018 and 31 December 2017, the total amount of re-measurement gains and losses recorded in other comprehensive income, including the movement in the asset restriction, were a gain of $12m and a loss of $4m respectively. Assumptions The principal financial assumptions used by the actuaries to determine the defined 2019 2018 2017 % % % UK plan only: Pension increases 2.7 3.2 3.2 Inflation rate 2.7 3.2 3.2 Discount rate: UK plan 2.1 3.0 2.6 US plan s 2.9 3.9 3.3 US post-retirement plan 2.9 4.0 3.3 US Healthcare cost trend rate assumed for the next year: Pre-65 (ultimate rate reached in 2028) 6.7 7.1 7.7 Post - 7.1 7.6 8.7 Ultimate rate that the cost rate trends to 4.5 4.5 4.5 Mortality is the most significant demographic assumption. The current assumptions for the UK are based on the S2PA ‘light’ year of birth tables with projected mortality improvements using the CMI_2018 model and a 1.25% per annum long-term trend and a smoothing parameter (‘s-kappa’) with age rated down by 0.7 and 2.3 years for pensioners and 0.5 and 2.6 years for non-pensioners, male and female respectively. In the US, the current assumptions use rates from the Pri-2012 Mortality Study and Generationally Projected with Scale MP-2019 mortality tables. The assumptions used for life expectancy at retirement age are as follows: UK US 2019 2018 2017 2019 2018 2017 Years Years Years Years Years Years Current pensioners at 65 a – male 24 24 24 21 21 21 – female 26 26 26 23 23 23 Future pensioners at 65 b – male 25 25 25 22 22 22 – female 28 28 28 24 24 24 a Relates to assumptions based on longevity (in years) following retirement at the end of the reporting period. b Relates to assumptions based on longevity (in years) relating to an employee retiring in 203 7 . The assumptions allow for expected increases in longevity. Sensitivities A one - m A one percentage point increase in assumed healthcare costs trend rate would increase the accumulated post-employment benefit obligations at 31 December 2019 by $1.7m (2018: $1.7m, 2017 : Future payments Company payments are expected to be $6m in 2020. The estimated future benefit payments are: 2019 2018 $m $m Within one year 6 5 Between one and five years 22 23 More than five years 36 38 64 66 Average duration The average duration of the pensions obligations is: 2019 2018 Years Years UK plan 18.0 19.5 US plans 9.3 9.2 US post-retirement plan 9.8 9.6 |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2019 | |
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Share-based payments | 2 8 Annual Performance Plan Under the IHG Annual Performance Plan (APP), eligible employees (including Executive Directors) can receive all or part of their bonus in the form of deferred shares and/or receive one-off The number of shares is calculated by dividing a specific percentage of the participant’s annual performance-related award by the middle market quoted prices on the three consecutive dealing days immediately preceding the date of grant. A number of executives participated in the APP during the year and conditional rights over 217,122 (2018: 175,944, 2017: 234,918) shares were awarded to participants. In 2019 this number included 86,126 (2018: 48,771, 2017: 79,471) shares awarded as part of recruitment terms or for one-off The plan rules for the APP were approved by shareholders at the AGM on 2 May 2014, and apply to awards made in respect of the 2015 and subsequent financial years. The plan rules contain substantially the same terms as the superseded plan rules. Long Term Incentive Plan The Long Term Incentive Plan (LTIP) allows Executive Directors and eligible employees to receive conditional share awards, which normally have a vesting period of three years. Performance-related awards: Awards to the Executive Directors, and some awards to other eligible employees, are granted subject to the achievement of performance conditions set by the Remuneration Committee, which are normally measured over the vesting period. Restricted stock units: Awards to eligible employees are granted subject to continued employment. Awards are normally made annually and, except in exceptional circumstances, will not exceed three times salary for eligible employees. The plan provides for the grant of ‘nil cost options’ to participants as an alternative to conditional share awards. During the year, conditional rights over 826,313 (2018: 784,119, 2017: 805,045) shares were awarded to employees under the plan, comprising 286,746 (2018: 257,240, 2017: 280,458) performance-related awards and 539,567 (2018: 526,879, 2017: 524,587) restricted stock units. The 2015-17 LOGO More detailed information on the performance measures for awards to Executive Directors is shown in the Directors’ Remuneration Report on pages 96 to 109. The Group recognised a cost of $28m (2018: $27m, 2017: $21m) in operating profit and $1m (2018: $1m, 2017: $2m) within exceptional administrative expenses related to equity-settled share-based payment transactions during the year, net of $12m (2018: $11m, 2017: $6m) borne by The Group also recognised a cost of $2m (2018: $nil, 2017: $nil) in operating profit related to cash-settled share-based payment transactions. No consideration was received in respect of ordinary shares issued under option schemes during 2019, 2018 or 2017. The Group uses separate option pricing models and assumptions depending on the plan. The following table sets out information about awards granted in 2019, 2018 and 2017: APP LTIP Binomial valuation model Monte Carlo Simulation and 2019 2018 2017 2019 2018 2017 Weighted average share price 4,597.0p 4,645.0p 3,781.0p 4,850.0p 4,774.0p 4,300.0p Expected dividend yield n/a n/a n/a 2.16 % 2.27 % 2.05 % Risk-free interest rate 0.72 % 0.84 % 0.10 % Volatility a 19 % 25 % 24 % Term (years) 3.0 3.0 3.0 3.0 3.0 3.0 a The expected volatility was determined by calculating the historical volatility of the Company’s share price corresponding to the expected life of the share award. Movements in the awards outstanding under the schemes are as follows: APP LTIP Number of shares Performance-related Number of shares Restricted Outstanding at 1 January 2017 685 4,201 449 Granted 235 280 525 Vested (263 ) (928 ) — Share capital consolidation (21 ) — — Lapsed or cancelled (20 ) (1,160 ) (58 ) Outstanding at 31 December 2017 616 2,393 916 Granted 176 257 527 Vested (199 ) (702 ) — Lapsed or cancelled (2 ) (860 ) (142 ) Outstanding at 31 December 2018 591 1,088 1,301 Granted 217 287 540 Vested (276 ) (293 ) (422 ) Share capital consolidation (21 ) — — Lapsed or cancelled (15 ) (387 ) (144 ) Outstanding at 31 December 201 9 496 695 1,275 Fair value of awards granted during the year (cents) 2019 5,888.7 4,985.6 5,862.1 2018 6,066.2 4,748.7 5,966.0 2017 4,959.3 4,133.2 5,251.0 Weighted average remaining contract life (years) At 31 December 2019 1.1 1.3 1.2 At 31 December 2018 1.0 0.8 1.2 At 31 December 2017 1.2 0.6 1.7 The above awards do not vest until the performance and service conditions have been met. The weighted average share price at the date of exercise for share awards vested during the year was 4,584.8p (2018: 4,583.8p). The closing share price on 31 December 2019 was 5,208.0p and the range during the year was 4,092.0p to 5,738.0p. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2019 | |
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Equity | 2 9 Equity share capital Number Nominal Share Equity Allotted, called up and fully paid At 1 January 2017 (ordinary shares of 18 318 / 329 p each) 206 48 93 141 Share capital consolidation (9 ) — — — Exchange adjustments — 5 8 13 At 31 December 2017 (ordinary shares of 19 17 / 21 p each) 197 53 101 154 Exchange adjustments — (3 ) (5 ) (8 ) At 31 December 2018 (ordinary shares of 19 17 / 21 p each) 197 50 96 146 Share capital consolidation (10 ) — — — Exchange adjustments — 2 3 5 At 31 December 2019 (ordinary shares of 20 340 399 187 52 99 151 The authority given to the Company at the AGM held on 3 May 2019 to purchase its own shares was still valid at 31 December 2019. A resolution to renew the authority will be put to shareholders at the AGM on 7 May 20 20 The Company no longer has an authorised share capital. On 21 February 2017, the Group announced a $400m return of funds to shareholders by way of a special dividend and share consolidation. On 5 May 2017, shareholders approved the share consolidation on the basis of 45 new ordinary shares of 19 17 21 every 47 existing ordinary shares of 18 318 329 on 8 May 2017. The special dividend was paid to shareholders on 22 May 2017. The dividend and share consolidation had the same economic effect as a share repurchase at fair value, therefore previously reported earnings per share ha d In October 2018, the Group announced a $500m return of funds to shareholders by way of a special dividend and share consolidation. On 11 January 2019, shareholders approved the share consolidation on the basis of 19 new ordinary shares of 20 340 399 every 20 existing ordinary shares of 19 17 21 on 14 January 2019 and resulted in the consolidation of 10m shares. The special dividend was paid on 29 January 2019 at a cost of $ 510 previously has been At 31 December 201 9 comprising 20 340 399 The nature and purpose of the other reserves shown in the Group statement of changes in equity on pages 134 136 Capital redemption reserve This reserve maintains the nominal value of the equity share capital of the Company when shares are repurchased or cancelled. Shares held by employee share trusts Comprises $ 4.9 3.6 5.4 Other reserves Comprises the merger and revaluation reserves previously recognised under UK GAAP, together with the reserve arising as a consequence of the Group’s capital reorganisation in June 2005. The revaluation reserve relates to the previous revaluations of property, plant and equipment which were included at deemed cost on adoption of IFRS. Following the change in presentational currency to the US dollar in 2008, this reserve also includes exchange differences arising on retranslation to period-end Fair value reserve This reserve records movements in the value of financial assets measured at fair value through other comprehensive income. Cash flow hedging reserve The cash flow hedging reserve is analysed as follows: Cash flow hedging reserve Value of Costs of Total $m $m $m At 1 January 2018 — — — Costs of hedging deferred and recognised in other comprehensive income — (1 ) (1 ) Change in fair value of currency swaps recognised in other comprehensive income 4 — 4 Reclassified from other comprehensive income to profit or loss – included in financial expenses (8 ) — (8 ) Deferred tax 1 — 1 At 31 December 2018 (3 ) (1 ) (4 ) Costs of hedging deferred and recognised in other comprehensive income — (6 ) (6 ) Change in fair value of currency swaps recognised in other comprehensive income (34 ) — (34 ) Reclassified from other comprehensive income to profit or loss – included in financial expenses 38 — 38 At 31 December 2019 1 (7 ) (6 ) V C Amounts reclassified from other comprehensive income to financial expenses comprise $8m (2018: $ 1 m) net interest payable on the currency swaps and an exchange loss 9m gain ) offsets gain/ 500 Currency translation reserve This reserve records the movement in exchange differences arising from the translation of foreign operations and exchange differences on foreign currency borrowings and derivative financial instruments that provide a hedge against net investments in foreign operations. On adoption of IFRS, cumulative exchange differences were deemed to be $nil as permitted by IFRS 1. The fair value of derivative financial instruments designated as hedges of net investments in foreign operations outstanding at 31 December 2019 was $ 1 m asset 1 nil Treasury shares During 2019, 0.8 0.8 0.9 0.3 0.4 5.7 6.8 7.6 1.6 1.7 2.0 Non-controlling A non-controlling Non-controlling |
Capital and other commitments
Capital and other commitments | 12 Months Ended |
Dec. 31, 2019 | |
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Capital and other commitments | 30. Capital and other commitments 2019 2018 $m $m Contracts placed for expenditure not provided for in the Group Financial Statements: Property, plant and equipment a 52 46 Intangible assets 7 7 Key money 135 83 194 136 a 2018 included a commitment to spend $33 m on the acquired UK portfolio (see note 11) within two and a half years of the acquisition date. A loan facility of $5m (2018: $5m) has also been made available to a hotel owner; this was undrawn at 31 December 2019. The Group has also committed to invest a further $ m (2018: $ nil) in one of its associates. |
Contingencies and guarantees
Contingencies and guarantees | 12 Months Ended |
Dec. 31, 2019 | |
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Contingencies and guarantees | 3 1 Security incidents In 2016, the Group was notified of (a) a security incident at a number of Kimpton hotels that resulted in unauthorised access to guest payment card data, and (b) security incidents at a number of IHG branded hotels including the installation of malware on servers that processed payment cards used at restaurants and bars of 12 IHG managed properties, together the Security Incidents. The Group has now reached agreement with the impacted card networks on the amount of assessments payable and the total amount of $ 3m has now been settled under the Group’s insurance programmes. The Group may also be exposed to investigations regarding compliance with applicable State and Federal data security standards, and legal action from individuals and organisations impacted by the Security Incidents. Due to the general nature of the regulatory inquiries received and class action filings to date, other than described below, it is not practicable to make a reliable estimate of the possible financial effects of any such claims on the Group at this time. These contingent liabilities are potentially recoverable under the Group’s insurance programmes, although specific agreement will need to be reached with the relevant insurance providers at the time any claim is made. To date, four lawsuits have been filed against IHG entities relating to the Security Incidents. One of these has been withdrawn and a settlement has been agreed in respect of another with an expected total payment of less than $ 2m, all of which is expected to be paid under the Group’s insurance programmes. Litigation From time to time, the Group is subject to legal proceedings the ultimate outcome of each being always subject to many uncertainties inherent in litigation. In particular, the Group is currently subject to the claims listed under ‘Legal proceedings’ on page 236. The Group has also given warranties in respect of the disposal of certain of its former subsidiaries. It is the view of the Directors that, other than to the extent that liabilities have been provided for in these Group Financial Statements (see note 21), it is not possible to quantify any loss to which these proceedings or claims under these warranties may give rise, however, as at the date of reporting, the Group does not believe that the outcome of these matters will have a material effect on the Group’s financial position. Other At 31 December 2019, the Group had outstanding letters of credit of $33m (2018: $29m) mainly relating to the Group’s Captive. The letters of credit do not have set expiry dates, but are reviewed and a mended In limited cases, the Group may guarantee bank loans made to facilitate third-party ownership of hotels under IHG management or franchise agreements. These contracts are treated as insurance contracts as IHG is insuring the bank against default by the hotel, with a liability only being recognised in the event that a payout becomes probable (see note 21). At 31 December 2019, there were guarantees of $ 55m in place (2018: $43m). At 31 December 2019, the Group had no other contingent liabilities (2018: $ nil |
Related party disclosures
Related party disclosures | 12 Months Ended |
Dec. 31, 2019 | |
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Related party disclosures | 3 2 2019 2018 2017 $m $m $m Total compensation of key management personnel Short-term employment benefits 15.8 18.2 21.3 Contributions to defined contribution pension plans 0.5 0.5 0.6 Equity compensation benefits 12.1 13.0 10.2 Termination benefits — — 1.9 28.4 31.7 34.0 There were no other transactions with key management personnel during the years ended 31 December 2019, 2018 or 2017. Key management personnel comprises the Board and Executive Committee. Related party disclosures for associates and joint ventures are as follows: Associates Joint ventures Total 2019 2018 2017 2019 2018 2017 2019 2018 2017 $m $m $m $m $m $m $m $m $m Revenue from associates and joint ventures 10 9 8 — 1 1 10 10 9 Other amounts owed by associates and joint ventures 3 1 2 — — — 3 1 2 Amounts owed to associates and joint ventures (4 ) (2 ) — — — — (4 ) (2 ) — In addition, loans both to and from the Barclay associate of $237m (2018: $237m) are offset in accordance with the provisions of IAS 32 and presented net in the Group statement of financial position. Interest payable and receivable under the loans is equivalent (average interest rate of 2.1% in 2019 (2018: 2.7%)) and presented net in the Group income statement. |
System Fund
System Fund | 12 Months Ended |
Dec. 31, 2019 | |
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System Fund | 3 3 System Fund revenues comprise: 2019 2018 2017 $m $m $m Assessment fees and contributions received from hotels 1,036 979 934 Loyalty programme revenues a 337 254 308 1,373 1,233 1,242 a Loyalty programme revenue is shown net of the cost of point redemptions. System Fund expenses include: 2018 2017 2019 R tated R tated $m $m $m Marketing 461 427 405 Payroll costs (note 4) 313 347 339 Depreciation and amortisation 54 49 41 |
Group companies
Group companies | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Group companies | 3 4 In accordance with Section 409 of the Companies Act 2006, a full list of entities in which the Group has an interest of greater than or equal to 20 Fully owned subsidiaries “IHG Management” d.o.o. Beograd (j) 24th Street Operator Sub, LLC (g) (k) 36th Street IHG Sub, LLC (g) (k) 426 Main Ave LLC (g) (k) 46 Nevins Street Associates, LLC (g) (k) 2250 Blake Street Hotel, LLC (g) (k) Allegro Management LLC (g) (k) Alpha Kimball Hotel LLC (g) (k) American Commonwealth Assurance Co. Ltd. (m) Asia Pacific Holdings Limited (n) Barclay Operating Corp. (cj) BHMC Canada Inc. (o) BHR Holdings B.V. (p) BHR Pacific Holdings, Inc. (k) BHTC Canada Inc. (o) Blythswood Square Glasgow Hotel OpCo Ltd (n) BOC Barclay Sub LLC (g) (cj) Bristol Oakbrook Tenant Company (k) Café Biarritz (n) Cambridge Lodging LLC (g) (k) Capital Lodging LLC (g) (k) CF Irving Owner, LLC (g) (k) CF McKinney Owner, LLC (g) (k) CF Waco Owner, LLC (g) (k) Compañia Inter-Continental De Hoteles El Salvador SA (n) Crowne Plaza LLC (g) (k) Cumberland Akers Hotel LLC (g) (k) Dunwoody Operations, Inc. (k) Edinburgh George Street Hotel OpCo Ltd (n) Edinburgh IC Limited (s) EVEN Real Estate Holding LLC (g) (k) General Innkeeping Acceptance Corporation (b) (l) Grand Central Glasgow Hotel OpCo Limited (n) Guangzhou SC Hotels Services Ltd. (t) H.I. (Ireland) Limited (u) H.I. Soaltee Management Company Ltd (ac) HI Sugarloaf, LLC (g) (ci) Hale International Ltd. (v) HC International Holdings, Inc. (w) HH France Holdings SAS (x) HH Hotels (EMEA) B.V. (p) HH Hotels (Romania) SRL (y) HIM (Aruba) NV (z) Hoft Properties LLC (g) (k) Holiday Hospitality Franchising, LLC (g) (k) Holiday Inn Mexicana S.A. de C.V. (ab) Holiday Inns (China) Ltd (ac) Holiday Inns (Chongqing), Inc. (l) Holiday Inns (Courtalin) Holdings SAS (x) Holiday Inns (Courtalin) SAS (x) Holiday Inns (England) Limited (n) Holiday Inns (Germany), LLC (g) (l) Holiday Inns (Guangzhou), Inc. (l) Holiday Inns (Jamaica) Inc. (l) Holiday Inns (Middle East) Limited (ac) Holiday Inns (Philippines), Inc. (l) Holiday Inns (Saudi Arabia), Inc. (l) Holiday Inns (Thailand) Ltd. (ac) Holiday Inns (UK), Inc. (l) Holiday Inns Crowne Plaza (Hong Kong), Inc. (l) Holiday Inns Holdings (Australia) Pty Ltd (aa) Holiday Inns Inc. (k) Holiday Inns Investment (Nepal) Ltd. (ac) Holiday Inns of America (UK) Limited (n) Holiday Inns of Belgium N.V. (ad) Holiday Pacific Equity Corporation (k) Holiday Pacific LLC (g) (k) Holiday Pacific Partners, LP (k) Hotel InterContinental London (Holdings) Limited (n) Hotel Inter-Continental London Limited (n) Hoteles Y Turismo HIH SRL (n) IC Hotelbetriebsfuhrungs GmbH (ae) IC Hotels Management (Portugal) Unipessoal, Lda (af) IC International Hotels Limited Liability IHC Buckhead, LLC (g) (ci) IHC Edinburgh (Holdings) (n) IHC Hopkins (Holdings) Corp. (k) IHC Hotel Limited (n) IHC Inter-Continental (Holdings) Corp. (k) IHC London (Holdings) (n) IHC May Fair (Holdings) Limited (n) IHC May Fair Hotel Limited IHC M-H (Holdings) Corp. (k) IHC Overseas (U.K.) Limited (n) IHC UK (Holdings) Limited (n) IHC United States (Holdings) Corp. (b) (k) IHC Willard (Holdings) Corp. (k) IHG (Marseille) SAS (x) IHG (Myanmar) Ltd (ah) IHG (Thailand) Limited (aj) IHG Bangkok Ltd (v) IHG Brasil Administracao de Hoteis e Servicos Ltda (ak) IHG Civ Holding Co-Investment Fund, LLC (g) (k) IHG Civ Holding Main Fund, LLC (g) (k) IHG Commission Services SRL (co) IHG Community Development, LLC (g) (ci) IHG de Argentina SA (al) IHG ECS (Barbados) SRL (co) IHG Franchising Brasil Ltda (bd) IHG Franchising DR Corporation (k) IHG Franchising, LLC (g) (k) IHG Hotels (New Zealand) Limited (an) IHG Hotels Limited (n) IHG Hotels Management (Australia) Pty Limited ( b IHG Hotels Nigeria Limited (ao) IHG Hotels South Africa (Pty) Limited (ap) IHG International Partnership (n) IHG Istanbul Otel Yönetim Limited Sirketi (bx) IHG Japan (Management) LLC (ar) IHG Japan (Osaka) LLC (ar) IHG Management (Maryland) LLC (g) (as) IHG Management (Netherlands) B.V. (p) IHG Management MD Barclay Sub LLC (g) (cj) IHG Management SL d.o.o (bo) IHG Mexico Operaciones SA de CV (ab) IHG Orchard Street Member, LLC (g) (k) IHG Peru SRL (dd) IHG PS Nominees Limited (n) IHG Sermex SA de CV (ab) IHG Systems Pty Ltd ( b IHG Szalloda Budapest Szolgaltato Kft. (at) IND East Village SD Holdings, LLC InterContinental Berlin Service Company GmbH (au) InterContinental (Branston) 1 Limited (c) (n) InterContinental (PB) 1 InterContinental (PB) 3 Limited (n) InterContinental Brasil Administracao de Hoteis Ltda (q) Inter-Continental D.C. Operating Corp. (k) Inter-Continental Florida Investment Corp. (k) Inter-Continental Florida Partner Corp. (k) InterContinental Gestion Hotelera S.L. (by) Inter-Continental Hospitality Corporation (k) InterContinental Hotel Berlin GmbH (au) InterContinental Hotel Düsseldorf GmbH (av) Inter-Continental Hoteleira Limitada (aw) Inter-Continental Hotels (Montreal) Operating Corp. (ax) Inter-Continental Hotels (Montreal) Owning Corp. (ax) InterContinental Hotels (Puerto Rico) Inc. (az) Inter-Continental Hotels (Singapore) Pte. Ltd. (ai) Inter-Continental Hotels Corporation (k) Inter-Continental Hotels Corporation de Venezuela C.A. (ba) Intercontinental Hotels Corporation Limited ( b InterContinental Hotels Group (Asia Pacific) Pte Ltd (ai) InterContinental Hotels Group (Australia) Pty Limited InterContinental Hotels Group (Canada) Inc. (o) InterContinental Hotels Group (España) SA (by) InterContinental Hotels Group (Greater China) Limited (ac) InterContinental Hotels Group (India) Pvt. Ltd (aq) InterContinental Hotels Group (Japan) Inc. (l) InterContinental Hotels Group (New Zealand) Limited (an) InterContinental Hotels Group (Shanghai) Ltd. (bb) InterContinental Hotels Group Customer Services Limited (n) InterContinental Hotels Group do Brasil Limitada InterContinental Hotels Group Healthcare Trustee Limited (n) InterContinental Hotels Group Operating Corp. (e) (k) InterContinental Hotels Group Resources, LLC (b) (k) InterContinental Hotels Group Services Company (n) InterContinental Hotels Italia, S.r.L. (be) InterContinental Hotels Limited (a) (n) InterContinental Hotels Management GmbH (bf) InterContinental Hotels Nevada Corporation (ck) Inter-Continental Hotels of San Francisco Inc. (k) Inter-Continental IOHC (Mauritius) Limited (bg) InterContinental Management AM LLC (cm) InterContinental Management Bulgaria EOOD (bp) InterContinental Management France SAS (x) InterContinental Management Poland sp. z.o.o (cn) InterContinental Overseas Holdings, LLC (k) KG Benefits LLC (g) (k) KG Gift Card Inc. (bz) KG Liability LLC (g) (k) KG Technology, LLC (g) (k) KHP Washington Operator LLC (g) (k) KHRG 11th Avenue Hotel LLC (g) (k) KHRG 851 LLC (g) (k) KHRG Aertson LLC (g) (k) KHRG Alexis, LLC (g) (k) KHRG Allegro, LLC (g) (k) KHRG Argyle, LLC KHRG Austin Beverage Company, LLC KHRG Baltimore, LLC KHRG Born LLC KHRG Boston Hotel, LLC KHRG Bozeman LLC KHRG Canary LLC KHRG Cayman LLC KHRG Cayman Employer Ltd. KHRG Dallas LLC (g) (k) KHRG Dallas Beverage Company LLC (k) KHRG DC 1731 LLC (g) (k) KHRG DC 2505 LLC (g) (k) KHRG Employer, LLC (g) (k) KHRG Goleta LLC (g) (k) KHRG Gray LLC (g) (k) KHRG Gray U2 LLC (g) (k) KHRG Huntington Beach LLC (g) (k) KHRG Key West LLC (g) (k) KHRG King Street, LLC (g) (k) KHRG La Peer LLC (g) (k) KHRG Miami Beach LLC (g) (k) KHRG Muse LLC (g) (k) KHRG New Orleans LLC (g) (k) KHRG NPC LLC (g) (k) KHRG Palladian LLC (g) (k) KHRG Palomar Phoenix LLC (g) (k) KHRG Philly Monaco LLC (g) (k) KHRG Pittsburgh LLC (g) (k) KHRG Porsche Drive LLC (g) (k) KHRG Reynolds LLC (g) (k) KHRG Riverplace LLC (g) (k) KHRG Sacramento LLC (g) (k) KHRG Savannah LLC (g) (k) KHRG Schofield LLC (g) (k) KHRG SFD LLC (g) (k) KHRG SF Wharf LLC (g) (k) KHRG SF Wharf U2 LLC (g) (k) KHRG South Beach LLC (g) (k) KHRG State Street LLC (g) (k) KHRG Sutter LLC (g) (k) KHRG Sutter Union LLC (g) (k) KHRG Taconic LLC (g) (k) KHRG Tariff LLC (g) (k) KHRG Texas Hospitality, LLC (g) (k) KHRG Texas Operations, LLC (g) (k) KHRG Tryon LLC (g) (k) KHRG Vero Beach, LLC (g) (k) KHRG Vintage Park LLC (g) (k) KHRG VZ Austin LLC (g) (k) KHRG Wabash LLC (g) (k) KHRG Westwood, LLC (g) (k) KHRG Wilshire LLC (g) (k) Kimpton Hollywood Licenses LLC (g) (k) Kimpton Hotel & Restaurant Group, LLC (g) (k) Kimpton Phoenix Licenses Holdings LLC (g) (k) Louisiana Acquisitions Corp. (k) Luxury Resorts and Spas (France) SAS (dc) Manchester Oxford Street Hotel OpCo Limited (n) Mercer Fairview Holdings LLC (g) (k) Met Leeds Hotel OpCo Limited (n) MH Lodging LLC (g) (k) Oxford Spires Hotel OpCo Limited (n) Oxford Thames Hotel OpCo Limited (n) PML Services LLC Pollstrong Limited Powell Pine, Inc. Priscilla Holiday of Texas, Inc. PT Regent Indonesia bh PT SC Hotels & Resorts Indonesia Raison d’Etre Holdings (BVI) Limited Raison d’Etre Services (BVI) Limited Raison d’Etre Spas Sweden AB Regent Asia Pacific Hotel Management Ltd Regent Asia Pacific Management Ltd Regent Berlin GmbH Regent International Hotels Ltd Resort Services International (Cayo Largo) L.P. Roxburghe Hotel Edinburgh OpCo Limited Russell London Hotel OpCo Limited SBS Maryland Beverage Company LLC SC Hotels International Services, Inc. SC Leisure Group Limited SC NAS 2 Limited SC Quest Limited SC Reservations (Philippines) Inc. SCH Insurance Company SCIH Branston 3 Semiramis for training of Hotel Personnel and Hotel Management SAE SF MH Acquisition LLC Six Continents Holdings Limited Six Continents Hotels de Colombia SA Six Continents Hotels International Limited Six Continents Hotels, Inc. Six Continents International Holdings B.V. Six Continents Investments Limited Six Continents Limited Six Continents Overseas Holdings Limited Six Continents Restaurants Limited SixCo North America, Inc. Six Senses America IP LLC (k) Six Senses Capital Pte. Ltd (cr) Six Senses North America Management LLC (k) SLC Sustainable Luxury Cyprus Limited Solamar Lodging LLC Southern Pacific Hotel Corporation (BVI) Ltd. Southern Pacific Hotels Properties Limited SPHC Group Pty Ltd. SPHC Management Ltd. St David’s Cardiff Hotel OpCo Limited Sustainable Luxury Holdings (BVI) Limited Sustainable Luxury Hospitality (Thailand) Limited Sustainable Luxury Lanka Pvt. Ltd Sustainable Luxury Maldives Private Limited Sustainable Luxury Management (Thailand) Limited Sustainable Luxury Mauritius Limited Sustainable Luxury Operations (Thailand) Ltd Sustainable Luxury Services (BVI) Limited Sustainable Luxury Singapore Private. Limited Sustainable Luxury UK Limited Sustainable Luxury USA Limited Sustainable Luxury Vietnam Company Limited The Grand Central Hotel Glasgow Limited The Met Hotel Leeds Limited The Principal Edinburgh George Street Limited The Principal London Limited The Principal Manchester Limited The Principal York Limited The Roxburghe Hotel Edinburgh Limited Universal de Hoteles SA White Shield Insurance Company Limited Wotton House Hotel OpCo Limited York Station Road Hotel OpCo Limited Subsidiaries where the effective interest is less than 100% IHG ANA Hotels Group Japan LLC (74.66%) (ar) IHG ANA Hotels Holdings Co., Ltd. (66%) (ar) Regent Hospitality Worldwide, Inc. (51%) (bt) Sustainable Luxury Holdings (Thailand) Limited (49%) (cu) World Trade Centre Montreal Hotel Corporation (74.11%) (bl) Associates, joint ventures and other 111 East 48th Street Holdings LLC (19.9%) (g) (h) (k) Alkoer, S. de R.L. de C.V. (50%) (h) (cg) BCRE IHG 180 Orchard Holdings LLC (49%) (g) (cf) Beijing Orient Express Hotel Co., Ltd. (16.24%) (bm) Blue Blood (Tianjin) Equity Investment Carr Clark SWW Subventure, LLC (26.67%) (g) (ca) Carr Waterfront Hotel, LLC (11.46%) (g) (h) (ca) China Hotel Investment Limited (30.05%) (i) (am) Desarrollo Alkoer Irapuato S. de R.L. de C.V. (50%) (cg) Desarrollo Alkoer Saltillo S. de R.L. de C.V. (50%) (cg) Desarrollo Alkoer Silao S. de R.L. de C.V. (50%) (cg) EDG Alpharetta EH LLC (0%) (d) (h) (r) Gestion Hotelera Gestel, C.A. (50%) (c) (h) (ba) Groups360 LLC (13.15%) (h) H.I. Soaltee Hotel Company Private Ltd (33.4%) (br) Hotel JV Services LLC (17.8%) (c) (g) (cb) Inter-Continental Hotels Saudi Arabia Limited (40%) NF III Seattle, LLC (25%) (g) (cc) Nuevas Fronteras S.A. ( 23.66 Panacon (33.33%) (ce) President Hotel & Tower Co Ltd. (30%) (bu) Sustainable Luxury Gravity Global Private Limited (51%) (h) (de) SURF-Samui Pte. Ltd (49%) (ay) Tianjin ICBCI IHG Equity Investment Fund Management Co., Limited (21.04%) (bv) Key (a) Directly owned by InterContinental Hotels Group PLC (b) Ordinary shares and preference shares (c) Ordinary A and ordinary B shares (d) 8% cumulative preference shares (e) 1/4 vote ordinary shares and ordinary shares (f) Ordinary shares, 5% cumulative preference shares and 7% cumulative preference shares (g) The entities do not have share capital and are governed by an operating agreement (h) Accounted for as associates and joint ventures due to IHG’s decision-making rights contained in the partnership agreement (i) Accounted for as an other financial asset due to IHG being unable to exercise significant influence over the financial and operating policy decisions of the entity Registered addresses (j) Krunska 73, Beograd, 11000, Serbia (k) 251 Little Falls Drive, Wilmington, DE 19808, USA (l) 2908 Poston Avenue, Nashville, TN 37203, USA (m) Clarendon House, 2 Church Street, Hamilton HM11, Bermuda (n) Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK (o) 199 Bay Street, Suite 2800, Commerce Court West, Toronto, ON M5L 1A9, Canada (p) Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands (q) Alameda Jau 536, Suite 3s-A, 01420-000 Sao Paulo, Brazil (r) 20200 W Dixie Highway, Suite #908, Miami, FL 33180, USA (s) Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, UK (t) Building 4, No. 13 Xiao Gang Zhong Ma Road, Zhuhai District, Guangzhou, Guangdong, P.R. China (u) 29 Earlsfort Terrace, Dublin 2, D02 AY28, Ireland (v) Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands (w) Wilmington Trust SP Services, Inc. 1105 North Market Street, Suite 1300, Wilmington, DE 19801, USA (x) 31–33 rue Mogador – 75009 Paris, France (y) Bucharest, 1st District, 50–52 Buzesti St, 83 module, 11 floor, Romania (z) 230 J E Irausquin Boulevard, Palm Beach, Aruba (aa) Level 11, 20 Bond Street, Sydney NSW 2000, Australia (ab) Ontario # 1050, Col. Providencia. Guadalajara, Jalisco CP 44630, Mexico (ac) Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong (ad) Rond Punt Schumanplein 11, 1040 Brussels, Belgium (ae) QBC 4 – Am Belvedere 4, 1100, Vienna, Austria (af) Avenida da Republica, no 52 – 9, 1069 – 211, Lisbon, Portugal (ag) 24, Rusakovskaya Str., Moscow 107014, Russian Federation (ah) 10 Bo Yar Zar Street, Kyaukkone Yankin Township, Yangon, Myanmar (ai) 230 Victoria Street, #13-00 Bugis Junction Towers, 188024, Singapore (aj) 973 President Tower, 7th Floor, Units 7A, 7B, 7C, 7D, 7I, 7F, 7G and 7H, Ploenchit Road, Khwaeng Lumpini, Khet Pathumwan, Bangkok Metropolis, 10330, Thailand (ak) Alameda Jau 536, Suite 3S-B, 01420-000 Sao Paulo, Brazil (al) Avenida Cordoba 1547, piso 8, oficina A, Buenos Aires, Argentina (am) The Phoenix Centre, George Street, Belleville St. Michael, Barbados (an) Level 10, Commerce Street, Auckland Central, Auckland 1000, New Zealand (ao) 1, Murtala Muhammed Drive, Ikoyi, Lagos, Nigeria (ap) Central Office Park Unit 4, 257 Jean Avenue, Centurion 0157, South Africa (aq) 11th Floor, Building No. 10, Tower C, DLF Phase-II, DLF Cyber City, Gurgaon, Haryana-122002, India (ar) 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan (as) HIQ Corporate Services Inc., 715 St. Paul Street, Baltimore, MD 21202, USA (at) 1052 Budapest, Apáczai Csere János u. 12–14, Hungary (au) Budapester Str. 2, 10787 Berlin, Germany (av) Koenigsallee 59, D-40215, Dusseldorf, Germany (aw) Alameda Jau 536, Suite 3S-E, 01420-000 São Paulo, Brazil (ax) InterContinental Montreal, 360 St. Antoine Street West, Montreal, Quebec H2Y 3X4, Canada (ay) 168 Robinson Road, #12-01, (az) 361 San Francisco Street Penthouse, San Juan, PR 00901, Puerto Rico (ba) Hotel Tamanaco Inter-Continental, Final Av. Ppal, Mercedes, Caracas, Venezuela (bb) 22nd Floor, Citigroup Tower, No. 33 Huayuanshiqiao Road, Pudong, Shanghai, P.R. China (bc) Alameda Jau 536, Suite 3S-C, 01420-000 São Paulo, Brazil (bd) Alameda Jau 536, Suite 3S-D, 01420-000 São Paulo, Brazil (be) Viale Monte Nero n.84, 20135 Milano, Italy (bf) Thurn-und-Taxis-Platz 6 – 60313 Frankfurt am Main, Germany (bg) JurisTax Services Ltd, Level 12, NeXTeracom Tower II, Ebene, Mauritius (bh) Menara Impreium 22nd Floor, Suite D, JI. HR. Rasuna Said Kav.1, Guntur Sub-district, Setiabudi District, South Jakarta 12980, Indonesia (bi) 150 South Champlain Street, Burlington, VT 05401, USA (bj) Calle 49, Sur 45 A 300 Of 1102 Envigado Antioquia, Colombia (bk) Suite B, Ground Floor, Regal House, Queensway, Gibraltar (bl) Suite 2500, 1000 De La Gauchetiere St. West, Montreal QC H3B 0A2, Canada (bm) Room 311, Building 1, No 6 East Wen Hua Yuan Road, Beijing Economy and Technology Development Zone, Beijing, P.R.China (bn) Room N306, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China (bo) Cesta v Mestni log 1, 1000 Ljubljana, Slovenia (bp) 37A Professor Fridtjof Nansen Street, 5th Floor, District Sredets, Sofia, 1142, Bulgaria (bq) C/o Holiday Inn & Suites, Cnr Waigani Drive & Wards Road, Port Moresby, National Capital District, Papua New Guinea (br) Tahachal, Kathmandu, Nepal (bs) Madinah Road, Jeddah, P.O Box 9456, Post Code 21413, Jeddah, Saudi Arabia (bt) Maples Corporate Services Ltd. – PO Box 309, Ugland House, Grand Cayman – KY-1104, Cayman Islands (bu) 971, 973 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Thailand (bv) Room R316, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China (bw) 14th Floor, South China Building, 1-3 Wyndham Street, Hong Kong (bx) Eski Büyükdere Cd. Park Plaza No:14 K:4 Maslak – Sarıyer, Istanbul, Turkey (by) Paseo de la Castellana 49, 28046 Madrid, Spain (bz) 2710 Gateway Oaks Drive, Suite 150N, Sacramento, CA 95833-3505, USA (ca) Carr Hospitality, LLC, 1455 Pennsylvania Avenue, NW, Suite 100, Washington, DC 20004, USA (cb) 2711 Centerville Road, Suite 400, Wilmington, DE 19805, USA (cc) 2000 Monarch Tower, 3424 Peachtree Road, N.E., Atlanta, GA 30326, USA (cd) Moreno 809 2 Piso, Buenos Aires, Argentina (ce) Pan-American (cf) Brack Capital Real Estate Ltd., 885 Third Avenue, 24th Floor, New York, NY 10022, USA (cg) Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico (ch) Ground Floor, Al Kamel Law Building, Plot 52-b, Banks Area, Six of October City, Egypt (ci) 40 Technology Pkwy South, #300 Norcross GA 30092, USA (cj) 80 State Street, Albany NY 12207-2543, USA (ck) 2215-B Renaissance Drive, Las Vegas, NV 89119, USA (cl) 11003 Onion Creek Court, Austin, TX 78747, USA (cm) 23/6 D. Anhaght Str., Yerevan, 0069, Armenia (cn) Generation Park Z – ul. Towarowa 28, 00-839 Warsaw, Poland (co) Suite 1, Ground Floor, The Financial Services Centre, Bishops Court Hill, St. Michael, Barbados, BB14004 (cp) Brumby Centre, Lot 42, Jalan Muhibbah, 87000 Labuan F.T., Malaysia (cq) Charlottenstrasse 49, Berlin, 10117, Germany (cr) Trident Corporate Services (Singapore) Pte. Limited, 96 Robinson Road, #16-01 SIF Building, 068899, Singapore (cs) ATS Services Limited, Capital Center, 9th Floor, 2-4 Arch. Makarios III Ave., 1065 Nicosia, Cyprus (ct) Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands (cu) 57, 9th Floor, Park Ventures Ecoplex, Unit 902-904, Wireless Road, Limpini, Pathum Wan Bangkok 10330, Thailand (cv) No. 9/5 Thambiah Ave, Colombo 7, Sri Lanka (cw) Premier Chambers, M.Lux Lodge, 1st Floor, Orchid Magu, Male, Republic of Maldives (cx) Venture Corporate Services (Mauritius) Ltd, Level 3, Tower 1, Nexteracom Towers, Cybercity, Ebene, Mauritius (cy) Berg Kaprow Lewis LLP, 35 Ballards Lane, DX 57284 Finchley 2, London, N3 1XW, UK (cz) Corporation Service Company, 1180 Ave. Of the Americas, New York 10036, USA (da) PDD Building, 162 Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam (db) Grevgatan 13, 11453 Stockholm, Sweden (dc) 95 Blvd. Berthier, 75017 Paris, France (dd) Bernardo Montengudo 201, 15076, Lima, Peru (de) B-11515 Bhikaj Cama Place, New Delhi, South Delhi, India, 110066 |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Basis of preparation | Basis of preparation The Consolidated Financial Statements of IHG have been prepared on a going concern basis and under the historical cost convention, except for assets classified as fair value through profit or |
The impact of adopting new accounting standards | The impact of adopting new accounting standards is disclosed on pages 146 to 149. |
Presentational currency | Presentational currency The Consolidated Financial Statements are presented in millions of US dollars reflecting the profile of the Group’s revenue and operating profit which are primarily generated in US dollars or US dollar-linked currencies. In the Consolidated Financial Statements, equity share capital, the capital redemption reserve and shares held by employee share trusts are translated into US dollars at the rates of exchange on the last day of the period; the resultant exchange differences are recorded in other reserves. The functional currency of the Parent Company is sterling since this is a non-trading |
Critical accounting policies and the use of judgements, estimates and assumptions | Critical accounting policies and the use of judgements, estimates and assumptions In determining and applying the Group’s accounting policies, management are required to make judgements, estimates and assumptions. An accounting policy is considered to be critical if its selection or application could materially affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Judgements System Fund The Group operates a System Fund (the Fund) to collect and administer cash assessments from hotel owners for the specific purpose of use in marketing, the Guest Reservation System and hotel loyalty programme. Assessments are generally levied as a percentage of hotel revenues. The Fund is not managed to generate a profit or loss for IHG over the longer term, but is managed for the benefit of the IHG System with the objective of driving revenues for the hotels in the System. In relation to marketing and reservation services, the Group’s performance obligation under IFRS 15 ‘Revenue from Contracts with Customers’ is determined to be the continuous performance of the services rather than the spending of the assessments received. Accordingly, assessment fees are recognised as hotel revenues occur, Fund expenses are charged to the Group income statement as incurred and no constructive obligation is deemed to exist under IAS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’. Accordingly, no liability is recognised relating to the balance of unspent funds. No other critical judgements have been made in applying the Group’s accounting policies. Estimates Management consider that critical estimates and assumptions are used for measuring the deferred revenue relating to the loyalty programme and in impairment testing, as discussed in further detail below. Estimates and assumptions are evaluated by management using historical experience and other factors believed to be reasonable based on current circumstances, however actual results could differ. Loyalty The hotel loyalty programme, IHG Rewards Club, enables members to earn points, funded through hotel assessments, during each qualifying stay at an IHG branded hotel and consume points at a later date for free accommodation or other benefits. The Group recognises deferred revenue in an amount that reflects IHG’s unsatisfied performance obligations, valued at the stand-alone selling price of the future benefit to the member. The amount of revenue recognised and deferred is impacted by ‘breakage’. On an annual basis the Group engages an external actuary who uses statistical formulae to assist in the estimate of the number of points that will never be consumed (‘breakage’). Significant estimation uncertainty exists in projecting members’ future consumption activity. Actuarial gains and losses would correspondingly adjust the amount of System Fund revenues recognised and deferred revenue in the Group statement of financial position. At 31 December 2019, deferred revenue relating to the loyalty programme was $1,233m (2018: $1,181m). Based on the conditions existing at the balance sheet date, a one percentage point decrease in the breakage estimate relating to outstanding points would increase this liability by approximately $16m. Impairment testing UK portfolio In 2019, an impairment charge of $81m has been recognised in relation to the UK leased portfolio, triggered by trading disruption as a result of renovations and the re-branding re-branding right-of-use Contingent purchase consideration in relation to the UK portfolio comprises the above-market element of the expected lease payments to the landlord and includes variable rentals which are based on hotel performance. A fair value gain of $38m was recorded in the year which included the impact of a reduction in expected variable rentals payable. Information on the inputs to the fair value calculation is included in note 25. Given the materiality of the items and the fact that the same underlying cash flows have been used to test for the impairment and to measure the fair value of contingent purchase consideration, they have been classified as exceptional items with the net impact being a $43m charge to the Group income statement and an equivalent reduction in net assets, excluding related tax impacts. The sensitivity to the key assumptions is as follows: • a one percentage point decrease in hotel RevPAR growth over the specific projection period would have resulted in further impairment of $23m to the right-of-use • a one percentage point increase in the discount rate used to discount the projected cash flows would have resulted in further impairment of $4m to the right-of-use Kimpton In 2019, an impairment charge of $50m has been recognised in respect of the Kimpton management contract portfolio acquired in 2015. The impairment results from management’s revised expectations regarding future trading which have been revised downwards in line with industry growth forecasts, the rate of hotel exits (‘attrition’) which has increased to reflect past experience, and the cost of retaining hotels within the portfolio. Information on the impairment test performed is included in note 13. The sensitivity to the key assumptions is as follows: • a 10% reduction in projected management fees would have resulted in further impairment of $9m. • a one percentage point increase in the discount rate used to discount the projected management fees would have resulted in further impairment of $7m. • an increase in the assumed attrition rate for 2020 by one hotel would have resulted in further impairment of $3m. |
Basis of consolidation | Basis of consolidation The Consolidated Financial Statements comprise the Financial Statements of the Parent Company and entities controlled by the Group. Control exists when the Group has: • power over an investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee ); • exposure, or rights, to variable returns from its involvement with the investee ; and • the ability to use its power over the investee to affect its returns. All intra-group balances and transactions are eliminated on consolidation. The assets, liabilities and results of those businesses acquired or disposed of are consolidated for the period during which they were under the Group’s control. The Group operates a deferred compensation plan in the US which allows certain employees to make additional provision for retirement, through the deferral of salary with matching company contributions. Employees can draw down on the plan in certain limited circumstances during employment. The assets of the plan are held in a company-owned trust which is not consolidated as the relevant activity of the trust, being the investment of the funds in the trust, is directed by the participating employees of the plan and the company has no exposure to the gains and losses resulting from those investment decisions. The assets of the trust are held solely for the benefit of the participating employees and to pay plan expenses, other than in the case of a company insolvency in which case they can be claimed by the general creditors of the company. At 31 December 2019, the trust had assets with a fair value of $218m (2018: $193m). |
Foreign currencies | Foreign currencies Transactions in foreign currencies are translated to functional currency at the exchange rates ruling on the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated to the functional currency at the relevant rates of exchange ruling on the last day of the period. Foreign exchange differences arising on translation are recognised in the Group The assets and liabilities of foreign operations, including goodwill, are translated into US dollars at the relevant rates of exchange ruling on the last day of the period. The revenues and expenses of foreign operations are translated into US dollars at average rates of exchange for the period. The exchange differences arising on retranslation are taken directly to the currency translation reserve. On disposal of a foreign operation, the cumulative amount recognised in the currency translation reserve relating to that particular foreign operation is recycled against the gain or loss on disposal. |
Business combinations and goodwill | Business combinations and goodwill On the acquisition of a business, identifiable assets acquired and liabilities assumed are measured at their fair value. Contingent liabilities assumed are measured at fair value unless this cannot be measured reliably, in which case they are not recognised but are disclosed in the same manner as other contingent liabilities. The measurement of deferred tax assets and liabilities arising on acquisition is as described in the general principles detailed within the ‘Taxes’ accounting policy note on page 143 with the exception that no deferred tax is provided on taxable temporary differences in connection with the initial recognition of goodwill. The cost of an acquisition is measured as the aggregate of the fair value of the consideration transferred. Contingent purchase consideration is measured at fair value on the date of acquisition, and is re-measured Payments of contingent purchase consideration reduce the balance sheet liability. The portion of each payment relating to the original estimate of the fair value of the contingent purchase consideration on acquisition is reported within cash flow from investing activities in the Group statement of cash flows and the portion of each payment relating to the increase or decrease in the liability since the acquisition date is reported within cash flow from operations. Goodwill is recorded at cost, being the difference between the fair value of the consideration and the fair value of net assets acquired. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses and is not amortised. Goodwill is tested for impairment at least annually by comparing carrying values of cash-generating units with their recoverable amounts. Impairment losses relating to goodwill cannot be subsequently reversed. Transaction costs are expensed and are not included in the cost of acquisition. |
Intangible assets | Intangible assets Brands Externally acquired brands are initially recorded at cost if separately acquired or fair value if acquired as part of a business combination, provided the brands are controlled through contractual or other legal rights, or are separable from the rest of the business, and the fair value can be reliably measured. Brands are amortised over their estimated useful lives (and tested for impairment if there are indicators of impairment) or tested for impairment at least annually if determined to have indefinite lives. The costs of developing internally generated brands are expensed as incurred. Management agreements Management agreements acquired as part of a business combination are initially recorded at the fair value attributed to those contracts on acquisition. The value of management agreements is amortised on a straight-line basis over the contract lives, including any extension periods at the Group’s option. Software Acquired and internally developed software are capitalised on the basis of the costs incurred to acquire and bring to use the specific software. Costs are generally amortised over estimated useful lives of three to five years on a straight-line basis. Internally generated development costs are expensed unless forecast revenues exceed attributable forecast development costs, in which case they are capitalised and amortised over the estimated useful life of the asset. |
Property, plant and equipment | Property, plant and equipment Property, plant and equipment are stated at cost less depreciation and any impairment. Repairs and maintenance costs are expensed as incurred. Land is not depreciated. All other property, plant and equipment are depreciated to a residual value over their estimated useful lives, namely: • b over a maximum • f All depreciation is charged on a straight-line basis. Residual value is reassessed Property, plant and equipment are tested for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Assets that do not generate independent cash flows are combined into cash-generating units. If carrying values exceed their estimated recoverable amount, the assets or cash-generating units are written down to the recoverable amount. pre-tax Group |
Leases | Leases On inception of a contract, the Group assesses whether it contains a lease. A contract contains a lease when it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The right to use the asset and the obligation under the lease to make payments are recognised in the Group statement of financial position as a right-of-use Lease contracts may contain both lease and non-lease non-lease The right-of-use Right-of-use Right-of-use re-measurement The lease liability is initially measured at the present value of the lease payments to be made over the lease term. The lease payments include fixed payments (including ‘in-substance ‘In-substance The lease term includes periods subject to extension options which the Group is reasonably certain to exercise and excludes the effect of early termination options where the Group is not reasonably certain that it will exercise the option. Minimum lease payments include the cost of a purchase option if the Group is reasonably certain it will purchase the underlying asset after the lease term. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for lease payments made. In addition, the carrying amount of lease liabilities is re-measured ‘in-substance Variable lease payments that do not depend on an index or a rate are recognised as an expense in the period over which the event or condition that triggers the payment occurs. In respect of variable leases which guarantee a minimum amount of rent over the lease term, the guaranteed amount is considered to be an ‘in-substance ‘in-substance The Group has opted not to apply the lease accounting model to intangible assets, leases of low-value Sub-leases sub-lessee. Lease payments are presented as follows in the Group statement of cash flows: • short-term lease payments, payments for leases of low-value • payments for the interest element of recognised lease liabilities are included in ‘interest paid’ within cash flows from operating activities; and • payments for the principal element of recognised lease liabilities are presented within cash flows from financing activities. |
Associates and joint ventures | Associates and joint ventures An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the entity, but is not control or joint control over those policies. A joint venture exists when two or more parties have joint control over, and rights to the net assets of, the venture. Joint control is the contractually agreed sharing of control which only exists when decisions about the relevant activities require the unanimous consent of the parties sharing control. In determining the extent of power or significant influence , e Associates and joint ventures are accounted for using the equity method unless the associate or joint venture is classified as held for sale. Under the equity method, the Group’s investment is recorded at cost adjusted by the Group’s share of post-acquisition profits and losses and other movements in the investee’s reserves. When the Group’s share of losses exceeds its interest in an associate or joint venture, the Group’s carrying amount is reduced to $nil and recognition of further losses is discontinued except to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of an associate or joint venture. If there is objective evidence that an associate or joint venture is impaired, an impairment charge is recognised if the carrying amount of the investment exceeds its recoverable amount. Upon loss of significant influence over an associate or joint control of a joint venture, any retained investment is measured at fair value with any difference to carrying value recognised in the Group |
Financial assets | Financial assets On initial recognition, the Group classifies its financial assets as being subsequently measured at amortised cost, fair value through other comprehensive income (FVOCI), or fair value through profit or loss (FVTPL). Financial assets which are held to collect contractual cash flows and give rise to cash flows that are solely payments of principal and interest are subsequently measured at amortised cost. Interest on these assets is calculated using the effective interest rate method and is recognised in the Group income statement as financial income. The Group recognises a provision for expected credit losses for financial assets held at amortised cost. Where there has not been a significant increase in credit risk since initial recognition, provision is made for defaults that are possible within the next 12 months. Where there has been a significant increase in credit risk since initial recognition, provision is made for credit losses expected over the remaining life of the asset. The Group has elected to irrevocably designate equity investments as FVOCI when they meet the definition of equity and are not held for trading. Changes in the value of equity investments classified as FVOCI are recorded directly in equity within the fair value reserve and are never recycled to the Group income statement. Dividends from equity investments classified as FVOCI are recognised in the Group income statement as other operating income. Equity instruments classified as FVOCI are not subject to impairment assessment. Financial assets measured at FVTPL include money market funds and other financial assets which do not have a fixed date of repayment. |
Trade receivables | Trade receivables Trade receivables are recorded at their original amount less provision for expected credit losses. The Group has elected to apply the simplified version of the expected credit loss model permitted by IFRS 9 ‘Financial Instruments’ in respect of trade receivables, which involves assessing lifetime expected credit losses on all balances. The Group has established a provision matrix that is based on its historical credit loss experience by region and may be adjusted for specific forward-looking factors. The carrying amount of the receivable is reduced through the use of a provision account and movements in the provision are recognised in the Group income statement within cost of sales. When a previously provided trade receivable is uncollectable, it is written off against the provision. Balances which are more than 180 At each reporting date, the Group assesses whether trade receivables are credit-impaired, for example if the customer is in significant financial difficulty. |
Cash and cash equivalents | Cash and cash equivalents Cash comprises cash in hand and demand deposits. Cash equivalents are short-term highly liquid investments with an original maturity of three months or less that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash and cash equivalents may include amounts which are subject to regulatory or other contractual restrictions and not available for general use by the Group. Cash balances are classified as other financial assets when subject to a specific charge or contractually ring-fenced for a specific purpose, such that the Group does not control the circumstances or timing of its release. |
Money market funds | Money market funds Money market funds are held at FVTPL |
Bank and other borrowings | Bank and other borrowings Bank and other borrowings are initially recognised at the fair value of the consideration received less directly attributable transaction costs. They are subsequently measured at amortised cost. Finance charges, including the transaction costs and any discount or premium on issue, are recognised in the Group Borrowings are classified as non-current period-end |
Derivative financial instruments and hedging | Derivative financial instruments and hedging Derivatives are initially recognised and subsequently re-measured re-measurement Changes in the fair value of derivatives which have either not been designated as hedging instruments or relate to the ineffective portion of hedges are recognised immediately in the Group Documentation outlining the measurement and effectiveness of any hedging arrangement is maintained throughout the life of the hedge relationship. Interest arising from currency derivatives and interest rate swaps is recorded in either financial income or expenses over the term of the agreement, unless the accounting treatment for the hedging relationship requires the interest to be taken to reserves. Interest paid reported within the Group statement of cash flows includes interest paid on the Group’s bonds, net of the effect of the related derivative financial instruments. Cash flow hedges Financial instruments are classified as cash flow hedges when they hedge exposure to variability in cash flows that are attributable to either a highly probable forecast transaction or a particular risk associated with a recognised asset or liability. Changes in the fair value are recorded in other comprehensive income and the cash flow hedging reserve to the extent that the hedges are effective. When the hedged item is recognised, the cumulative gains and losses on the related hedging instrument are reclassified to the Group income statement, within financial expenses. Net investment hedges Financial instruments are classified as net investment hedges when they hedge the Group’s net investment in foreign operations. Changes in the fair value are recorded in other comprehensive income and the currency translation reserve to the extent that the hedges are effective. The cumulative gains and losses remain in equity until a foreign operation is sold, at which point they are reclassified to the Group income statement. |
Offsetting of financial assets and financial liabilities | Offsetting of financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is reported in the Group statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liabilities simultaneously. To meet these criteria, the right of set-off |
Provisions | Provisions Provisions are recognised when the Group has a present obligation as a result of a past event, it is probable that a payment will be made and a reliable estimate of the amount payable can be made. If the effect of the time value of money is material, the provision is discounted using a current pre-tax In respect of litigation, provision is made when management consider it probable that payment may occur even though the defence of the related claim may still be ongoing through the court process. |
Taxes | Taxes Current tax Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from, or paid to, the tax authorities, including interest. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the end of the reporting period. |
Deferred tax | Deferred tax Deferred tax assets and liabilities are recognised in respect of temporary differences between the tax base and carrying value of assets and liabilities including on property, plant and equipment, intangible assets, application fees, contract costs, unrelieved tax losses, unremitted profits from subsidiaries, gains rolled over into replacement assets, and other short-term temporary differences. Judgement is used when assessing the extent to which deferred tax assets, particularly in respect of tax losses, should be recognised. Deferred tax assets are therefore recognised to the extent that it is regarded as probable that there will be sufficient and suitable taxable profits (including the future release of deferred tax liabilities) in the relevant legal entity or tax group against which such assets can be utilised in the future. For this purpose, forecasts of future taxable profits are considered by assessing the Group’s forecast revenue and profit models, taking into account future growth predictions and operating cost assumptions. Accordingly, changes in assumptions to the Group’s forecasts may have an impact on the amount of future taxable profits and therefore the period over which any deferred tax assets might be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the periods in which the asset or liability will be settled, based on rates enacted or substantively enacted at the end of the reporting period. Where deferred tax assets and liabilities arise in the same entity or group of entities and there would be a legal right to offset the assets and liabilities were they to reverse, the assets and liabilities are also offset on the Group statement of financial position. Otherwise |
Retirement benefits | Retirement benefits Defined contribution plans Payments to defined contribution schemes are charged to the Group Defined benefit plans Plan assets are measured at fair value and plan liabilities are measured on an actuarial basis using the projected unit credit method, discounted at an interest rate equivalent to the current rate of return on a high-quality corporate bond of equivalent currency and term to the plan liabilities. The difference between the value of plan assets and liabilities at the period-end wind-up. The service cost of providing pension benefits to employees, together with the net interest expense or income for the year, is charged to the Group Re-measurements Re-measurement Actuarial valuations are carried out on a regular basis and are updated for material transactions and other material changes in circumstances (including changes in market prices and interest rates) up to the end of the reporting period. |
Assets held for sale | Assets held for sal e Assets and liabilities are classified as held for sale when their carrying amount will be recovered principally through a sale transaction rather than continuing use and a sale is highly probable and expected to complete within one year. For a sale to be highly probable, management need to be committed to a plan to sell the asset and the asset must be actively marketed for sale at a price that is reasonable in relation to its current fair value. Assets designated as held for sale are held at the lower of car r Depreciation and amortisation is not charged against assets classified as held for sale. |
Disposal of non-current assets | Disposal of non-current The Group recognises sales proceeds and any related gain or loss on disposal on completion of the sales process. In determining whether the gain or loss should be recorded, the Group considers whether it: • has a continuing managerial involvement to the degree associated with asset ownership; • has transferred the significant risks and rewards associated with asset ownership; and • can reliably measure and will actually receive the proceeds. |
Revenue recognition | Revenue recognition Revenue is recognised at an amount that reflects the consideration to which the Group expects to be entitled in exchange for transferring goods or services to a customer. Fee business revenue Under franchise agreements, the Group’s performance obligation is to provide a licence to use IHG’s trademarks and other intellectual property. Franchise royalty fees are typically charged as a percentage of hotel gross rooms revenues and are treated as variable consideration, recognised as the underlying hotel revenues occur. Under management agreements, the Group’s performance obligation is to provide hotel management services and a licence to use IHG’s trademarks and other intellectual property. Base and incentive management fees are typically charged. Base management fees are typically a percentage of total hotel revenues and incentive management fees are generally based on the hotel’s profitability or cash flows. Both are treated as variable consideration. Like franchise fees, base management fees are recognised as the underlying hotel revenues occur. Incentive management fees are recognised over time when it is considered highly probable that the related performance criteria will be met, provided there is no expectation of a subsequent reversal of the revenue. Application and re-licensing Franchise and management agreements also contain a promise to provide technology support and network services to hotels. A monthly technology fee, based on either gross rooms revenues or the number of rooms in the hotel, is charged and recognised over time as these services are delivered. Technology fee income is included in Central revenue. IHG’s global insurance programme provides coverage to managed hotels for risks such as US workers’ compensation, employee and general liability. Premiums are payable by the hotels to the third-party insurance provider. As some of the risk is reinsured by the Group’s captive insurance company (‘the Captive’), SCH Insurance Company, premiums paid from the third-party insurance provider to the Captive are recognised as revenue as premiums are earned. Contract assets Amounts paid to hotel owners to secure management and franchise agreements (‘key money’) are treated as consideration payable to a customer. A contract asset is recorded which is recognised as a deduction to revenue over the initial term of the contract. Where loans are provided to an owner the difference, if any, between the face and market value of the loan is capitalised as a contract asset. Performance guarantees In limited cases, the Group may provide performance guarantees to third-party hotel owners to secure management agreements. The expected value of payments under performance guarantees s the overall transaction price and is treated as a reduction to revenue over the life of the contract. Revenue from owned, leased and managed lease hotels At its owned, leased and managed lease hotels, the Group’s performance obligation is to provide accommodation and other goods and services to guests. Revenue includes rooms revenue and food and beverage sales, which is recognised when the rooms are occupied and food and beverages are sold. Cost reimbursements In a managed property, the Group acts as employer of the general manager and other employees at the hotel and is entitled to reimbursement of these costs. The performance obligation is satisfied over time as the employees perform their duties, consistent with when reimbursement is received. Reimbursements for these services are shown as revenue with an equal matching employee cost, with no profit impact. Certain other costs relating to both managed and franchised hotels are also contractually reimbursable to IHG and, where IHG is deemed to be acting as principal in the provision of the related services, the revenue and cost are shown on a gross basis. System Fund revenues The Group operates a System Fund (the Fund) to collect and administer cash assessments from hotel owners for the specific purpose of use in marketing, the Guest Reservation System and hotel loyalty programme. The Fund also receives proceeds from the sale of loyalty points under third-party co-branding Certain travel agency commission revenues within the Fund are recognised on a net basis, where it has been determined that IHG is acting as agent. In respect of the loyalty programme (IHG Rewards Club), the related performance obligation is to arrange for the provision of future benefits to members on consumption of previously earned reward points. Members have a choice of benefits: reward nights at an IHG hotel or other goods or services provided by third parties. Under its franchise and management agreements, IHG receives assessment fees based on total qualifying hotel revenue from IHG Rewards Club members’ hotel stays. The Group’s performance obligation is not satisfied in full until the member has consumed the points at a participating hotel or selected a reward from a third party. Accordingly, loyalty assessments are deferred in an amount that reflects the stand-alone selling price of the future benefit to the member. Revenue is impacted by a ‘breakage’ estimate of the number of points that will never be consumed. On an annual basis, the Group engages an external actuary who uses statistical formulae to assist in formulating this estimate, which is adjusted to reflect actual experience up to the reporting date. As materially all of the points will be either consumed at IHG managed or franchised hotels owned by third parties, or exchanged for awards provided by third parties, IHG is deemed to be acting as agent on consumption and therefore recognises the related revenue net of the cost of reimbursing the hotel or third Performance obligations under the Group’s co-branding • a • m • p co-brand Fees from these agreements comprise fixed amounts normally payable at the beginning of the contract, and variable amounts paid on a monthly basis. Variable amounts are typically based on the number of points and free night certificates issued to members and the marketing services performed by the Group. Total fees are allocated to the performance obligations based on their estimated stand-alone selling prices. Revenue allocated to marketing and licensing obligations is recognised on a monthly basis as the obligation is satisfied. Revenue relating to points and free night certificates is recognised when the member has consumed the points or certificates at a participating hotel or has selected a reward from a third party, net of the cost of reimbursing the hotel or third Judgement is required in estimating the stand-alone selling prices which are based upon generally accepted valuation methodologies regarding the value of the licence provided, and the number of points and certificates expected to be issued. However , Contract costs Certain costs incurred to secure management and franchise agreements , typically developer commissions, are capitalised and amortised over the initial term of the related contract. These costs are presented as ‘Contract costs’ in the Group statement of financial position. Contract assets and contract costs are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. |
Share-based payments | Share-based payments The cost of equity-settled transactions with employees is measured by reference to fair value at the date at which the right to the shares is granted. Fair value is determined by an external valuer using option pricing models. The cost of equity-settled transactions is recognised, together with a corresponding increase in equity, over the period in which any performance or service conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (vesting date). The income statement charge for a period represents the movement in cumulative expense recognised at the beginning and end of that period. No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market or non-vesting non-vesting |
Fair value measurement | Fair value measurement The Group measures financial assets and liabilities at FVTPL, financial assets measured at FVOCI, and derivative financial instruments at fair value on a recurring basis and other assets when impaired or re-measured Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is measured by reference to the principal market for the asset or liability assuming that market participants act in their economic best interests. The fair value of a non-financial The Group uses valuation techniques that maximise the use of relevant observable inputs using the following valuation hierarchy: Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities. Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly. Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data. For assets and liabilities measured at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing Further disclosures on the particular valuation techniques used by the Group are provided in note 25 Where significant assets (such as property) are valued by reference to fair value less costs of disposal, an external valuation will normally be obtained using professional valuers who have appropriate market knowledge, reputation and independence. |
Exceptional items | Exceptional items The Group discloses certain financial information both including and excluding exceptional items. The presentation of information excluding exceptional items allows a better understanding of the underlying trading performance of the Group and provides consistency with the Group’s internal management reporting. Exceptional items are identified by virtue of either their size or nature so as to facilitate comparison with prior periods and to assess underlying trends in the financial performance of the Group and its regional operating segments. Exceptional items can include, but are not restricted to, gains and losses on the disposal of assets, impairment charges and reversals and restructuring costs. New accounting standards and presentational changes |
Presentational changes | P The presentation of the Group income statement has been amended to include exceptional items within the line item to which they relate, with a separate analysis of operating profit before System Fund and exceptional items. Fair value gains and losses on contingent purchase consideration reported within financial expenses in 2018 are now presented as a separate line item on the face of the Group income statement. |
Other standards adopted | Other standards adopted From 1 January 2019, the Group has applied the amendments to: • IAS 28 ‘Investments in Associates and Joint Ventures’ relating to long-term interests to which the equity method is not applied; • IFRS 9 ‘Financial Instruments’ relating to prepayment features with negative compensation; • IFRIC 23 ‘Uncertainty over Income Tax Treatments’; • IAS 19 ‘Plan Amendment, Curtailment or Settlement’; and • Other existing standards arising from the Annual Improvements to IFRSs 2015–2017 cycle. None of these amendments have had a material impact on the Group’s reported financial performance or position. |
New standards but not yet effective | New standards issued but not yet effective In 2019 , material The effective date for IFRS 17 ‘Insurance Contracts’ is 1 January 2021. The Group has not yet determined the impact of this standard on the Group’s reported financial performance or position. |
IFRS 16 [member] | |
Statement [Line Items] | |
Adoption of new accounting standards and other presentational changes | IFRS 16 ‘Leases’ IFRS 16, which supersedes IAS 17, sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for most leases under a single on-balance sheet model. The Group has a number of material property and equipment leases. The Group has adopted IFRS 16 using the full retrospective method of adoption with the date of initial application being 1 January 2019. The Group elected to use the transition practical expedient allowing the standard to be applied only to contracts that were previously identified as leases applying IAS 17 at the date of initial application. The Group also elected to use the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option (‘short-term leases’), lease contracts for which the underlying asset is of low value (‘low-value Before the adoption of IFRS 16, the Group classified each of its leases at the inception date as either a finance lease or an operating lease. A lease was classified as a finance lease if it transferred substantially all of the risks and rewards incidental to ownership of the leased asset to the Group; otherwise it was classified as an operating lease. Finance leases were capitalised at the commencement of the lease at the inception date fair value of the leased asset or, if lower, at the present value of the minimum lease payments. Lease payments were apportioned between interest (recognised as finance cost) and reduction of the lease liability. In an operating lease, the leased asset was not capitalised, and the lease payments were recognised as rent expense in the Group income statement on a straight-line basis over the lease term. Any prepaid rent and accrued rent were recognised within prepayments and trade and other payables, respectively. Under IFRS 16, the Group recognises right-of-use Right-of-use re-measurement right-of-use right-of-use Right-of-use At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including ‘in-substance The lease acquired with the UK portfolio acquisition (see note 11) includes variable lease payments where rentals are linked to the performance of the hotels by way of reductions in rentals in the event that lower than target cash flows are generated by the hotels. In the event that rent reductions are not applicable, the Group’s exposure to this type of rental payment in excess of amounts reflected in the measurement of lease liabilities is £46m per annum over the remaining lease term of 24 years. Additional rentals, which are uncapped, are also payable and are calculated as a percentage of the profit earned by the hotels. Two German hotel leases operate under a similar structure (see note 15). In calculating the present value of lease payments, the Group uses its ‘in-substance The Group applies the short-term lease recognition exemption to its short-term leases of equipment (i.e. those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value low-value Lessor accounting under IFRS 16 is substantially unchanged from IAS 17. The Group is not party to any material leases where it acts as a lessor. In accordance with the full retrospective method of adoption, the Group applied IFRS 16 at the date of initial application as if it had always been effective at the commencement date of existing lease contracts. Accordingly, the comparative information in these Consolidated Financial Statements has been restated, as summarised and set out below. For the 12 months ended 31 December • Depreciation expense increased by $35m relating to the depreciation of new right-of-use • Rent expense decreased by $51m relating to previous operating leases. • Financ ial expenses • Income tax expenses decreased by $1m relating to the tax effect of these changes. • Net cash from operating activities increased and the combination of cash from investing and financing activities reduced by the same amount, representing repayments of principal on the recognised lease liabilities. At 31 December 2018: • Right-of-use Group , i • Lease liabilities of $670m were recognised and presented separately in the Group statement of financial position. Finance lease liabilities of $235m previously included in loans and other borrowings are now included in lease liabilities. • Prepayments of $3m and trade and other payables of $35m related to leases previously class ifi • Net deferred tax liabilities decreased by $10m because of the deferred tax impact of the changes in assets and liabilities. • The net effect of these adjustments increased the Group’s net liabilities by $54m. Impact of IFRS 16 on the Group income statement Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As reported adoption restated reported adoption restated $m $m $m $m $m $m Revenue from fee business 1,486 — 1,486 1,379 — 1,379 Revenue from owned, leased and managed lease hotels 447 — 447 351 — 351 System Fund revenues 1,233 — 1,233 1,242 — 1,242 Reimbursement of costs 1,171 — 1,171 1,103 — 1,103 Total revenue 4,337 — 4,337 4,075 — 4,075 Cost of sales (706 ) 18 (688 ) (571 ) 17 (554 ) System Fund expenses (1,379 ) — (1,379 ) (1,276 ) — (1,276 ) Reimbursed costs (1,171 ) — (1,171 ) (1,103 ) — (1,103 ) Administrative expenses (448 ) 33 (415 ) (388 ) 33 (355 ) Share of (losses)/gains of associates and joint ventures (1 ) — (1 ) 3 — 3 Other operating income 14 — 14 84 — 84 Depreciation and amortisation (80 ) (35 ) (115 ) (78 ) (34 ) (112 ) Impairment charge — — — (18 ) — (18 ) Operating profit 566 16 582 728 16 744 Financial income 5 — 5 4 — 4 Financial expenses (82 ) (19 ) (101 ) (76 ) (19 ) (95 ) Fair value losses on contingent purchase consideration (4 ) — (4 ) — — — Profit before tax 485 (3 ) 482 656 (3 ) 653 Tax (133 ) 1 (132 ) (115 ) (3 ) (118 ) Profit for the year from continuing operations 352 (2 ) 350 541 (6 ) 535 Impact of IFRS 16 on the Group statement of comprehensive income Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As Profit for the year 352 (2 ) 350 541 (6 ) 535 Exchange gains/(losses) on retranslation of foreign operations, including related tax credit of $2m (2017: net of related tax credit of $1m) 43 1 44 (88 ) (2 ) (90 ) Other items (10 ) — (10 ) (47 ) — (47 ) Total comprehensive income for the year 385 (1 ) 384 406 (8 ) 398 Impact of IFRS 16 on the Group statement of financial position 31 December 2018 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As Property, plant and equipment 447 (174 ) 273 425 (175 ) 250 Right-of-use — 513 513 — 486 486 Deferred tax assets 60 3 63 75 3 78 Other non-current 1,870 — 1,870 1,647 — 1,647 Total non-current 2,377 342 2,719 2,147 314 2,461 Trade and other receivables 613 (3 ) 610 551 (2 ) 549 Other current assets 763 — 763 312 — 312 Total current assets 1,376 (3 ) 1,373 863 (2 ) 861 Total assets 3,753 339 4,092 3,010 312 3,322 Loans and other borrowings (120 ) 16 (104 ) (126 ) 16 (110 ) Lease liabilities — (55 ) (55 ) — (44 ) (44 ) Trade and other payables (618 ) 2 (616 ) (597 ) 2 (595 ) Other current liabilities (632 ) — (632 ) (557 ) — (557 ) Total current liabilities (1,370 ) (37 ) (1,407 ) (1,280 ) (26 ) (1,306 ) Loans and other borrowings (2,129 ) 219 (1,910 ) (1,893 ) 215 (1,678 ) Lease liabilities — (615 ) (615 ) — (589 ) (589 ) Trade and other payables (158 ) 33 (125 ) (36 ) 29 (7 ) Deferred tax liabilities (131 ) 7 (124 ) (101 ) 6 (95 ) Other non-current (1,042 ) — (1,042 ) (1,001 ) — (1,001 ) Total non-current (3,460 ) (356 ) (3,816 ) (3,031 ) (339 ) (3,370 ) Total liabilities (4,830 ) (393 ) (5,223 ) (4,311 ) (365 ) (4,676 ) Net liabilities (1,077 ) (54 ) (1,131 ) (1,301 ) (53 ) (1,354 ) Currency translation reserve 419 1 420 377 — 377 Retained earnings 1,166 (55 ) 1,111 951 (53 ) 898 Other equity (2,670 ) — (2,670 ) (2,636 ) — (2,636 ) IHG shareholders’ equity (1,085 ) (54 ) (1,139 ) (1,308 ) (53 ) (1,361 ) Non-controlling 8 — 8 7 — 7 Total equity (1,077 ) (54 ) (1,131 ) (1,301 ) (53 ) (1,354 ) Impact of IFRS 16 on the Group statement of cash flows Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As restated As previously IFRS 16 As Profit for the year 352 (2 ) 350 541 (6 ) 535 Adjustments reconciling profit for the year to cash flow from operations before contract acquisition costs 502 62 564 308 63 371 Cash flow from operations before contract acquisition costs 854 60 914 849 57 906 Contract acquisition costs, net of repayments (54 ) — (54 ) (57 ) — (57 ) Cash flow from operations 800 60 860 792 57 849 Interest paid (70 ) (17 ) (87 ) (69 ) (18 ) (87 ) Interest received 2 — 2 1 — 1 Tax paid on operating activities (66 ) — (66 ) (147 ) — (147 ) Net cash from operating activities 666 43 709 577 39 616 Landlord contribution to property, plant and equipment 8 (8 ) — 14 (14 ) — Other cash flows from investing activities (197 ) — (197 ) (220 ) — (220 ) Net cash from investing activities (189 ) (8 ) (197 ) (206 ) (14 ) (220 ) Principal element of lease payments — (35 ) (35 ) — (25 ) (25 ) Other cash flows from financing activities 86 — 86 (446 ) — (446 ) Net cash from financing activities 86 (35 ) 51 (446 ) (25 ) (471 ) Net movement in cash and cash equivalents in the year 563 — 563 (75 ) — (75 ) Cash and cash equivalents at beginning of the year 58 — 58 117 — 117 Exchange rate effects (21 ) — (21 ) 16 — 16 Cash and cash equivalents at end of the year 600 — 600 58 — 58 Impact of IFRS 16 on basic and diluted earnings per ordinary share Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As Basic earnings per ordinary share 184.7 (1.0 ) 183.7 279.8 (3.1 ) 276.7 Diluted earnings per ordinary share 182.8 (1.0 ) 181.8 278.4 (3.1 ) 275.3 |
Significant accounting polici_3
Significant accounting policies (Tables) - IFRS 16 [member] | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Impact of IFRS 16 on Financial Statements | Impact of IFRS 16 on the Group income statement Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As reported adoption restated reported adoption restated $m $m $m $m $m $m Revenue from fee business 1,486 — 1,486 1,379 — 1,379 Revenue from owned, leased and managed lease hotels 447 — 447 351 — 351 System Fund revenues 1,233 — 1,233 1,242 — 1,242 Reimbursement of costs 1,171 — 1,171 1,103 — 1,103 Total revenue 4,337 — 4,337 4,075 — 4,075 Cost of sales (706 ) 18 (688 ) (571 ) 17 (554 ) System Fund expenses (1,379 ) — (1,379 ) (1,276 ) — (1,276 ) Reimbursed costs (1,171 ) — (1,171 ) (1,103 ) — (1,103 ) Administrative expenses (448 ) 33 (415 ) (388 ) 33 (355 ) Share of (losses)/gains of associates and joint ventures (1 ) — (1 ) 3 — 3 Other operating income 14 — 14 84 — 84 Depreciation and amortisation (80 ) (35 ) (115 ) (78 ) (34 ) (112 ) Impairment charge — — — (18 ) — (18 ) Operating profit 566 16 582 728 16 744 Financial income 5 — 5 4 — 4 Financial expenses (82 ) (19 ) (101 ) (76 ) (19 ) (95 ) Fair value losses on contingent purchase consideration (4 ) — (4 ) — — — Profit before tax 485 (3 ) 482 656 (3 ) 653 Tax (133 ) 1 (132 ) (115 ) (3 ) (118 ) Profit for the year from continuing operations 352 (2 ) 350 541 (6 ) 535 Impact of IFRS 16 on the Group statement of comprehensive income Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As Profit for the year 352 (2 ) 350 541 (6 ) 535 Exchange gains/(losses) on retranslation of foreign operations, including related tax credit of $2m (2017: net of related tax credit of $1m) 43 1 44 (88 ) (2 ) (90 ) Other items (10 ) — (10 ) (47 ) — (47 ) Total comprehensive income for the year 385 (1 ) 384 406 (8 ) 398 Impact of IFRS 16 on the Group statement of financial position 31 December 2018 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As Property, plant and equipment 447 (174 ) 273 425 (175 ) 250 Right-of-use — 513 513 — 486 486 Deferred tax assets 60 3 63 75 3 78 Other non-current 1,870 — 1,870 1,647 — 1,647 Total non-current 2,377 342 2,719 2,147 314 2,461 Trade and other receivables 613 (3 ) 610 551 (2 ) 549 Other current assets 763 — 763 312 — 312 Total current assets 1,376 (3 ) 1,373 863 (2 ) 861 Total assets 3,753 339 4,092 3,010 312 3,322 Loans and other borrowings (120 ) 16 (104 ) (126 ) 16 (110 ) Lease liabilities — (55 ) (55 ) — (44 ) (44 ) Trade and other payables (618 ) 2 (616 ) (597 ) 2 (595 ) Other current liabilities (632 ) — (632 ) (557 ) — (557 ) Total current liabilities (1,370 ) (37 ) (1,407 ) (1,280 ) (26 ) (1,306 ) Loans and other borrowings (2,129 ) 219 (1,910 ) (1,893 ) 215 (1,678 ) Lease liabilities — (615 ) (615 ) — (589 ) (589 ) Trade and other payables (158 ) 33 (125 ) (36 ) 29 (7 ) Deferred tax liabilities (131 ) 7 (124 ) (101 ) 6 (95 ) Other non-current (1,042 ) — (1,042 ) (1,001 ) — (1,001 ) Total non-current (3,460 ) (356 ) (3,816 ) (3,031 ) (339 ) (3,370 ) Total liabilities (4,830 ) (393 ) (5,223 ) (4,311 ) (365 ) (4,676 ) Net liabilities (1,077 ) (54 ) (1,131 ) (1,301 ) (53 ) (1,354 ) Currency translation reserve 419 1 420 377 — 377 Retained earnings 1,166 (55 ) 1,111 951 (53 ) 898 Other equity (2,670 ) — (2,670 ) (2,636 ) — (2,636 ) IHG shareholders’ equity (1,085 ) (54 ) (1,139 ) (1,308 ) (53 ) (1,361 ) Non-controlling 8 — 8 7 — 7 Total equity (1,077 ) (54 ) (1,131 ) (1,301 ) (53 ) (1,354 ) |
Impact of IFRS 16 on Basic and Diluted Earnings per Ordinary Share | Impact of IFRS 16 on basic and diluted earnings per ordinary share Year ended 31 December 2018 Year ended 31 December 2017 As previously IFRS 16 As As previously IFRS 16 As Basic earnings per ordinary share 184.7 (1.0 ) 183.7 279.8 (3.1 ) 276.7 Diluted earnings per ordinary share 182.8 (1.0 ) 181.8 278.4 (3.1 ) 275.3 |
Segmental information (Tables)
Segmental information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Information by Reportable Segment | The Group has four • Americas; • EMEAA; • Greater China; and • Central. Central functions include technology, sales and marketing, finance, human resources and corporate services; Central revenue arises principally from technology fee income. No operating segments have been aggregated to form these reportable segments. Management monitors the operating results of these reportable segments for the purpose of making decisions about resource allocation and performance assessment. Each of the geographical regions is led by its own Chief Executive Officer who reports to the Group Chief Executive Officer. The System Fund is not viewed as being part of the Group’s core operations as it is not managed to generate a profit or loss for IHG over the longer term. As such, its results are not regularly reviewed by the Chief Operating Decision Maker (CODM) and it does not constitute an operating segment under IFRS 8. Similarly, reimbursements of costs are not reported to the CODM and so are not included within the reportable segments. Segmental performance is evaluated based on operating profit or loss and is measured consistently with operating profit or loss in the Group Financial Statements, excluding System Fund and exceptional items. Group financing activities, fair value gains/(losses) on contingent purchase consideration and income taxes are managed on a Group basis and are not allocated to reportable segments. Revenue Year ended 31 December 2019 2018 2017 Americas 1,040 1,051 999 EMEAA 723 569 457 Greater China 135 143 117 Central 185 170 157 Revenue from reportable segments 2,083 1,933 1,730 System Fund revenues 1,373 1,233 1,242 Reimbursement of costs 1,171 1,171 1,103 Total revenue 4,627 4,337 4,075 Profit Year ended 31 December 2019 2018 2017 Americas (see below) 700 673 648 EMEAA 217 206 175 Greater China 73 70 53 Central (125 ) (117 ) (102 ) Operating profit from reportable segments 865 832 774 System Fund (49 ) (146 ) (34 ) Operating exceptional items (note 6) (186 ) (104 ) 4 Operating profit 630 582 744 Net finance costs (115 ) (96 ) (91 ) Fair value gains/(losses) on contingent purchase consideration 27 (4 ) — Profit before tax 542 482 653 Tax (156 ) (132 ) (118 ) Profit for the year 386 350 535 All items above relate to continuing operations. Operating profit from reportable segments includes business interruption insurance proceeds of $10m in 2019, relating to the Americas region, which is included in ‘other operating income’ in the Group income statement. Assets 31 December 2019 $m 2018 Americas 1,784 1,656 EMEAA a 978 738 Greater China 136 110 Central 772 755 Segment assets 3,670 3,259 Unallocated assets: Derivative financial instruments 1 8 Tax receivable 44 58 Deferred tax assets 66 63 Cash and cash equivalents 195 704 Total assets 3,976 4,092 a Includes assets classified as held for sale of $19m (2018: Liabilities 31 December 2019 2018 Americas (971 ) (995 ) EMEAA a (398 ) (386 ) Greater China (80 ) (61 ) Central (206 ) (225 ) Segment liabilities (1,655 ) (1,667 ) Unallocated liabilities: Loyalty and co-brand (1,339 ) (1,291 ) Loans and other borrowings (2,165 ) (2,014 ) Derivative financial instruments (20 ) — Tax payable (50 ) (50 ) Deferred tax liabilities (118 ) (124 ) Deferred and contingent purchase consideration b (94 ) (77 ) Total liabilities (5,441 ) (5,223 ) a Includes liabilities classified as held for sale of $22m (2018: b Excludes UK portfolio which is included in EMEAA. 2018 has been restated accordingly. Year ended 31 December 2019 Americas $m EMEAA $m Greater China $m Central $m Group $m Capital expenditure (page 153 57 71 — 137 265 Non-cash Depreciation and amortisation a 44 25 5 42 116 Share-based payments cost 9 4 2 13 28 Share of losses/(gains) of associates and joint ventures 9 (6 ) — — 3 Impairment charges 50 81 — — 131 Year ended 31 December 2018 Americas Restated $m EMEAA Restated Greater Restated Central Restated Group Restated Capital expenditure (page 153 74 33 2 142 251 Non-cash Depreciation and amortisation a 46 17 7 45 115 Share-based payments cost 8 4 3 12 27 Share of losses/(gains) of associates and joint ventures 6 (5 ) — — 1 Year ended 31 December 2017 Americas Restated EMEAA Restated Greater Restated Central Restated Group Restated Capital expenditure 120 26 2 202 350 Non-cash Depreciation and amortisation a 42 15 5 50 112 Share-based payments cost 6 4 3 8 21 Share of losses/(gains) of associates and joint ventures 1 (4 ) — — (3 ) Impairment charge 18 — — — 18 a Included in the $ 116 115 112 82 86 78 34 29 34 54 (2018: $49m, 2017: $41m) of depreciation and amortisation was recorded within System Fund expenses. Reconciliation of capital expenditure Year ended 31 December 2019 Americas $m EMEAA $m Greater China $m Central $m Group $m Capital expenditure per management reporting 57 71 — 137 265 Goodwill — 4 — — 4 Contract acquisition costs (27 ) (35 ) — — (62 ) Timing differences and other adjustments 4 1 — (4 ) 1 Additions per the Group 34 41 — 133 208 Comprising additions to: Goodwill and other intangible assets — 4 — 104 108 Property, plant and equipment 19 29 — 29 77 Investment in associates and joint ventures 14 — — — 14 Other financial assets 1 8 — — 9 34 41 — 133 208 Year ended 31 December 2018 Americas Restated EMEAA Restated Greater Restated Central Restated Group Restated Capital expenditure per management reporting 74 33 2 142 251 Contract acquisition costs (32 ) (26 ) — — (58 ) Timing differences and other adjustments 1 — — — 1 Additions per the Group 43 7 2 142 194 Comprising additions to: Intangible assets — — — 112 112 Property, plant and equipment 13 2 2 30 47 Investment in associates and joint ventures 3 — — — 3 Other financial assets 27 5 — — 32 43 7 2 142 194 |
Summary of Geographical Information | Geographical information Year ended 31 December 2019 $m 2018 2017 Revenue United Kingdom 265 151 74 United States 1,957 1,950 1,845 China 214 222 201 Rest of World 818 781 713 3,254 3,104 2,833 System Fund (note 33 1,373 1,233 1,242 4,627 4,337 4,075 For the purposes of the above table, hotel and reimbursable revenues are United Kingdom, revenue relating to an individual country is separately disclosed when it represents 10 31 December 2019 $m 2018 Restated Non-current United Kingdom 184 205 United States 1,632 1,643 Rest of World 847 510 2,663 2,358 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Group Revenue Disaggregated By Type of Revenue Stream and By Reportable Segment | The following table presents Group revenue disaggregated by type of revenue stream and by reportable segment: Year ended 31 December 2019 Americas EMEAA Greater $m Central $m Group $m Franchise and base management fees 840 247 87 — 1,174 Incentive management fees 13 90 48 — 151 Central revenue — — — 185 185 Revenue from fee business 853 337 135 185 1,510 Revenue from owned, leased and managed lease hotels 187 386 — — 573 1,040 723 135 185 2,083 System Fund revenues (note 3 3 1,373 Reimbursement of costs 1,171 Total revenue 4,627 Year ended 31 December 2018 Americas EMEAA Greater Central Group Franchise and base management fees 835 227 94 — 1,156 Incentive management fees 18 93 49 — 160 Central revenue — — — 170 170 Revenue from fee business 853 320 143 170 1,486 Revenue from owned, leased and managed lease hotels 198 249 — — 447 1,051 569 143 170 1,933 System Fund revenues (note 3 3 1,233 Reimbursement of costs 1,171 Total revenue 4,337 Year ended 31 December 2017 Americas EMEAA Greater Central Group Franchise and base management fees 795 204 73 — 1,072 Incentive management fees 16 90 44 — 150 Central revenue — — — 157 157 Revenue from fee business 811 294 117 157 1,379 Revenue from owned, leased and managed lease hotels 188 163 — — 351 999 457 117 157 1,730 System Fund revenues (note 33 1,242 Reimbursement of costs 1,103 Total revenue 4,075 |
Summary of Information About Trade Receivables, Contract Assets, and Deferred Revenue | 2019 $m 2018 Trade receivables (note 18 514 474 Contract assets 334 290 Deferred revenue (1,564 ) (1,506 ) |
Summary of Information About Contract Assets | 2019 $m 2018 At 1 January 290 258 Costs paid 64 58 Recognised as a deduction to revenue (22 ) (19 ) Repayments (1 ) (2 ) Exchange and other adjustments 3 (5 ) At 31 December 334 290 Analysed as: Current 23 20 Non-current 311 270 334 290 |
Summary of Changes in Deferred Revenue | Loyalty programme $m Other co-brand fees $m Application & re-licensing fees $m Other $m Total $m At 1 January 2018 1,057 88 163 49 1,357 Acquisition of businesses — — — 8 8 Increase in deferred revenue 540 — 36 67 643 Recognised as revenue (416 ) (11 ) (23 ) (47 ) (497 ) Exchange and other adjustments — — (1 ) (4 ) (5 ) At 31 December 2018 1,181 77 175 73 1,506 Acquisition of businesses — — — 2 2 Increase in deferred revenue 533 — 26 64 623 Recognised as revenue (481 ) (11 ) (25 ) (49 ) (566 ) Exchange and other adjustments — — (4 ) 3 (1 ) At 31 December 2019 1,233 66 172 93 1,564 At 31 December 2019 Analysed as: Current 476 11 25 43 555 Non-current 757 55 147 50 1,009 1,233 66 172 93 1,564 At 31 December 2018 Analysed as: Current 491 11 23 47 572 Non-current 690 66 152 26 934 1,181 77 175 73 1,506 |
Amounts Received and Not Yet Recognised Related to Performance Obligations | Amounts received and not yet recognised related to performance obligations that were unsatisfied at 31 December 2019 are as follows: 2019 2018 Expected to be recognised in: Loyalty and co-brand $m Other $m Total $m Loyalty and co-brand Other Total Less than one year 487 68 555 502 70 572 Between one and two years 292 34 326 257 31 288 Between two and three years 176 30 206 158 26 184 Between three and four years 115 27 142 106 22 128 Between four and five years 79 27 106 75 20 95 More than five years 150 79 229 160 79 239 1,299 265 1,564 1,258 248 1,506 |
Movements in Contract Costs, Typically Developer Commissions | Movements in contract costs, typically developer commissions, are as follows: 2019 $m 2018 At 1 January 60 58 Costs incurred 19 9 Amortisation (7 ) (7 ) At 31 December 72 60 Analysed as: Current 5 5 Non-current 67 55 72 60 |
Staff costs and Directors' em_2
Staff costs and Directors' emoluments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Staff Costs | 2019 2018 2017 Staff costs Wages and salaries 1,982 1,956 1,868 Social security costs 131 127 106 Pension and other post-retirement benefits: 27 3 19 5 64 63 61 2,180 2,165 2,040 Analysed as: Costs borne by IHG a 735 708 645 Costs borne by the System Fund b 313 347 339 Costs reimbursed 1,132 1,110 1,056 2,180 2,165 2,040 |
Summary of Average Number of Employees | 2019 2018 2017 Average number of employees, including part-time employees Employees whose costs are borne by IHG: Americas 2,170 2,225 2,149 EMEAA 5,227 3,255 2,267 Greater China 339 324 294 Central 1,900 1,794 1,948 9,636 7,598 6,658 Employees whose costs are borne by the System Fund 4,800 5,214 5,555 Employees whose costs are reimbursed 22,207 22,518 22,577 36,643 35,330 34,790 |
Summary of Director's Emoluments | 2019 $m 2018 2017 Directors’ emoluments Base salaries, fees, performance payments and benefits 6.4 7.1 4.9 |
Auditor's remuneration paid t_2
Auditor's remuneration paid to Ernst & Young LLP (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Auditor's Remuneration Paid | 2019 $m 2018 2017 Audit of the Financial Statements a 3.0 3.3 3.0 Audit of subsidiaries 3.2 2.9 2.2 Audit-related assurance services 0.2 0.2 0.2 Other assurance services 1.3 1.3 1.0 Tax compliance — — 0.1 Other non-audit 0.1 0.1 0.2 7.8 7.8 6.7 a Includes $nil (2018: $0.4m, 2017: $0.5m) of additional fees for specific procedures performed in relation to the implementation of new accounting standards. |
Exceptional items (Tables)
Exceptional items (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Exceptional Items | 2019 $m 2018 2017 Operating exceptional items : Administrative expenses: Acquisition and integration costs (7 ) (15 ) (15 ) Litigation (28 ) (18 ) — Reorganisation costs (20 ) (56 ) (36 ) Pension settlement cost — (15 ) — (55 ) (104 ) (51 ) Other operating income and expenses: Gain on disposal of equity securities measured at fair value (note 17 — — 73 — — 73 Impairment charges: Goodwill (note 13) (49 ) — — Management agreements (note 13 (50 ) — — Right-of-use assets (note 15) (32 ) — — Associates (note 16 — — (18 ) (131 ) — (18 ) Total operating exceptional items (186 ) (104 ) 4 Fair value gains on contingent purchase consideration (note 25) 38 — — Exceptional items before tax (148 ) (104 ) 4 Tax : Tax on exceptional items 20 22 (2 ) Exceptional tax — 5 87 Total tax (note 8) 20 27 85 Operating exceptional items analysed as: Americas (62 ) (36 ) 37 EMEAA (109 ) (12 ) (4 ) Greater China — (1 ) — Central (15 ) (55 ) (29 ) (186 ) (104 ) 4 |
Finance costs (Tables)
Finance costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Financial Income and Expenses | 2019 $m 2018 2017 Financial income Financial income on deposits and money market funds 3 2 1 Interest income on loans and other assets 3 3 3 6 5 4 Financial expenses Interest expense on bonds and syndicated facility 78 61 58 Interest expense on lease liabilities 41 39 39 Capitalised interest (5 ) (5 ) (6 ) Unwind of discount on deferred purchase consideration a 1 1 — Other charges b 6 5 4 121 101 95 a Fair value gains/(losses) on contingent purchase consideration have been disclosed on the face of the Group income statement. The 2018 comparatives have been restated accordingly. b Other charges comprise bank charges and non-bank interest expense. |
Tax (Tables)
Tax (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Tax on Profit | Tax on profit 2019 $m 2018 2017 Income tax UK corporation tax at 19.00% (2018: 19.00%, 2017: 19.25%): Current period 5 10 10 Adjustments in respect of prior periods 13 4 (2 ) 18 14 8 Foreign tax: Current period 154 95 210 Benefit of tax reliefs on which no deferred tax previously recognised (2 ) (1 ) (13 ) Adjustments in respect of prior periods (11 ) (13 ) 2 141 81 199 Total current tax 159 95 207 Deferred tax: Origination and reversal of temporary differences 11 39 (8 ) Changes in tax rates and tax laws a 2 1 (56 ) Adjustments to estimated recoverable deferred tax assets b (2 ) (2 ) (9 ) Adjustments in respect of prior periods (14 ) (1 ) (16 ) Total deferred tax (3 ) 37 (89 ) Total income tax charge for the year 156 132 118 Further analysed as tax relating to: Profit before exceptional items c 176 159 203 Exceptional items: Tax on exceptional items (note [6]) (20 ) (22 ) 2 Exceptional tax (note [6]) — (5 ) (87 ) 156 132 118 a In 2017, predominantly reflects a change in US tax rates following significant US tax reforms. b Represents a re-assessment off-balance c Includes $113m (2018: $93m, 2017: $157m) in respect of US taxes. |
Summary of Reconciliation of Tax Charge Including Gain on Disposal of Assets | Total a Before exceptional items and System Fund b 2019 % 2018 2017 2019 % 2018 2017 Reconciliation of tax charge UK corporation tax at standard rate 19.0 19.0 19.3 19.0 19.0 19.3 Tax credits (0.8 ) (0.5 ) (0.5 ) (0.6 ) (0.3 ) (0.5 ) System Fund c 1.1 5.0 0.9 (0.5 ) (0.5 ) (0.4 ) Impairments 1.7 — — — — — Other permanent differences 1.3 0.6 0.8 0.8 0.3 0.6 Non-recoverable foreign taxes d 3.2 0.7 0.3 2.4 0.5 0.3 Net effect of different rates of tax in overseas businesses e 6.7 4.6 14.6 5.5 3.7 13.9 Effects of changes in tax rates resulting from significant US tax reform — — (8.7 ) — — — Release of provision for taxation on unremitted earnings following significant US tax reform — — (7.8 ) — — — Transition tax liability arising from significant US tax reform — — 4.8 — — — Effect of other changes in tax rates and tax laws (0.4 ) 0.3 0.3 (0.3 ) 0.2 0.3 Benefit of tax reliefs on which no deferred tax previously recognised (0.4 ) (0.4 ) (1.9 ) (0.3 ) (0.3 ) (1.8 ) Effect of adjustments to estimated recoverable deferred tax assets (0.4 ) 0.1 (1.4 ) (0.3 ) 0.1 (1.3 ) Adjustment to tax charge in respect of prior periods (2.2 ) (2.0 ) (2.6 ) (1.9 ) (1.0 ) (1.1 ) a 28.8 27.4 18.1 23.8 21.7 29.3 a Calculated in relation to total profits including exceptional items and System Fun d b Calculated in relation to profits excluding exceptional items and System Fund earnings. c The System Fund is d In 2018, IHG recognised a benefit in respect of foreign tax credits in the US that were carried back against 2017 tax. In 2019, this carry back benefit is not available which has led to an increase in irrecoverable tax by 1.8 percentage points on to the underlying rate before exceptional items and System Fund. These credits are disclosed within unrecognised deferred tax. e Before exceptional items and System Fund includes 4.9 ercentage p oints 4.2 percentage points , percentage points) driven by the relatively high US federal tax rate. |
Reconciliation Between Total Tax Rate and Tax Rate Before Exceptional Items and System Fund | A reconciliation between total tax rate and tax rate before exceptional items and System Fund is shown below: 2019 2018 2017 Profit $m Tax $m Rate % Profit Tax Rate Profit Tax Rate Group income statement 542 156 28.8 482 132 27.4 653 118 18.1 Adjust for: Exceptional items and tax (note [6]) 148 20 104 27 (4 ) 85 System Fund 49 — 146 — 34 — Other — — — — — (3 ) 739 176 23.8 732 159 21.7 683 200 29.3 |
Summary of Reconciliation of Tax Paid to Total Tax Charge in Income Statement | A reconciliation of tax paid to the total tax charge in the Group 2019 2018 2017 Current tax charge in the Group (159 ) (95 ) (207 ) Current tax credit in the Group 2 1 — Current tax credit taken directly to equity 4 8 12 Total current tax charge (153 ) (86 ) (195 ) Movements to tax contingencies within the Group a 3 (4 ) (3 ) Timing differences of cash tax paid and foreign exchange differences 9 22 26 Tax paid per cash flow (141 ) (68 ) (172 ) a Tax contingency movements are included within the current tax charge but do not impact cash tax paid in the year. |
Summary of Deferred Tax | Deferred tax Property, Other Application fees and contract costs $m Deferred gains on loan notes $m Deferred gains on investments $m Losses $m Employee benefits $m Undistributed earnings of subsidiaries $m Other short-term temporary differences a Restated $m Total Restated At 1 January 2018 (98 ) (2 ) 25 (34 ) (54 ) 40 20 — 86 (17 ) Group income statement (26 ) (8 ) 4 (1 ) (2 ) (4 ) — (2 ) 2 (37 ) Assets of businesses acquired 4 (11 ) — — — — — — 10 3 Group statement of comprehensive income — — — — — — (2 ) — (2 ) (4 ) Group statement of changes in equity — — — — — — — — (5 ) (5 ) Exchange and other adjustments — — — — — (1 ) — — — (1 ) At 31 December 2018 (120 ) (21 ) 29 (35 ) (56 ) 35 18 (2 ) 91 (61 ) Group income statement — 1 (2 ) 1 (2 ) (9 ) — 2 12 3 Assets of businesses acquired — — — — — — — — 2 2 Group statement of comprehensive income — — — — — — 1 — (1 ) — Exchange and other adjustments 1 1 — — — 1 1 — — 4 At 31 December 2019 (119 ) (19 ) 27 (34 ) (58 ) 27 20 — 104 (52 ) a Primarily relates to provisions, accruals, share-based payments, right-of-use assets, lease liabilities and contingent purchase consideration. |
Summary of Deferred Taxes by Territory | The closing balance is further analysed by key territory as follows: Property, plant, equipment and software $m Other $m Application fees and contract costs $m Deferred Deferred gains on investments $m Losses $m Employee benefits $m Undistributed earnings of subsidiaries $m Other short-term temporary differences $m Total $m UK 6 5 (1 ) — — 21 4 — 20 55 US (125 ) (18 ) 33 (34 ) (58 ) 1 16 — 74 (111 ) Other — (6 ) (5 ) — — 5 — — 10 4 (119 ) (19 ) 27 (34 ) (58 ) 27 20 — 104 (52 ) |
Summary of Deferred Tax Balance After Offset of Assets and Liabilities | The analysis of the deferred tax balance after considering the offset of assets and liabilities within entities where there is a legal right to do so is as follows: 2019 $m 2018 Analysed as: Deferred tax assets 66 63 Deferred tax liabilities (118 ) (124 ) (52 ) (61 ) |
Summary of Unrecognised Deferred Tax Position | The total unrecognised deferred tax position is as follows: Gross Unrecognised 2019 $m 2018 2019 $m 2018 Revenue losses 413 448 65 67 Capital losses 541 516 95 90 Total losses 954 964 160 157 Foreign tax credits 13 — 13 — Leases 25 25 7 7 Other a 2 24 1 7 994 1,013 181 171 a Primarily relates to costs incurred in prior years for which relief has not been obtained. |
Summary of Unrecognized Deferred Tax Based on Expiry Date | There is no expiry date to any of the above unrecognised assets other than for the losses and foreign tax credits as shown in the table below: Gross Unrecognised 2019 $m 2018 2019 $m 2018 Expiry date: 2020 2 — — — 2021 31 28 6 6 2022 10 10 2 2 2023 2 1 — — 2024 4 4 1 — 2025 91 92 20 21 After 2025 24 46 17 3 |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Dividends Paid and Proposed | 2019 cents per share 2018 2017 2019 $m 2018 2017 Paid during the year: Final (declared for previous year) 78.1 71.0 64.0 139 130 127 Interim 39.9 36.3 33.0 72 69 62 Special (note 29) 262.1 — 202.5 510 — 404 380.1 107.3 299.5 721 199 593 Proposed (not recognised as a liability at 31 December): Final 85.9 78.1 71 156 141 135 |
Earnings per ordinary share (Ta
Earnings per ordinary share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Earnings Per Ordinary Share | Continuing and total operations 2019 2018 2017 Basic earnings per ordinary share Profit available for equity holders ($m) 385 349 534 Basic weighted average number of ordinary shares (millions) 183 190 193 Basic earnings per ordinary share (cents) 210.4 183.7 276.7 Diluted earnings per ordinary share Profit available for equity holders ($m) 385 349 534 Diluted weighted average number of ordinary shares (millions) 184 192 194 Diluted earnings per ordinary share (cents) 209.2 181.8 275.3 Adjusted earnings per ordinary share Profit available for equity holders ($m) 385 349 534 Adjusting items: System Fund revenues and expenses ($m) 49 146 34 Interest attributable to the System Fund ($m) (18 ) (19 ) (13 ) Tax attributable to the System Fund ($m) — — 3 Operating exceptional items ($m) (note 6) 186 104 (4 ) Change in fair value of contingent purchase consideration ($m) (note 25) a (27 ) 4 — Tax on exceptional items ($m) (note 6) (20 ) (22 ) 2 Exceptional tax ($m) (note 6) — (5 ) (87 ) Adjusted earnings ($m) 555 557 469 Basic weighted average number of ordinary shares (millions) 183 190 193 Adjusted earnings per ordinary share (cents) 303.3 293.2 243.0 Adjusted diluted earnings per ordinary share Adjusted earnings ($m) 555 557 469 Diluted weighted average number of ordinary shares (millions) 184 192 194 Adjusted diluted earnings per ordinary share (cents) 301.6 290.1 241.8 a Adjusted earnings per ordinary share for 2018 has been restated to exclude the change in fair value of contingent purchase consideration. 2019 2018 2017 Diluted weighted average number of ordinary shares is calculated as: Basic weighted average number of ordinary shares 183 190 193 Dilutive potential ordinary shares 1 2 1 184 192 194 |
Acquisition of businesses (Tabl
Acquisition of businesses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Fair Value of Identifiable Assets Acquired and Liabilities Assumed | The fair values of the identifiable assets acquired and liabilities assumed, and the purchase consideration, have been finalised and reflect facts and circumstances that existed at the date of acquisition: $m Identifiable intangible assets: Brands 189 Management agreements 45 Right-of-use 19 Other non-current 8 Trade and other receivables 12 Cash and cash equivalents 7 Other current assets 1 Trade and other payables (14 ) Lease liabilities (19 ) Other liabilities (2 ) Net identifiable assets acquired 246 Goodwill 58 Total purchase consideration 304 Comprising: Cash paid on acquisition, including working capital settlement 299 Contingent pur chase a 5 304 a Payable upon certain conditions being met relating to a pipeline property. The range of possible outcomes is $ |
Summary of Cash Flows Relating to Acquisitions | Cash flows relating to acquisitions 2019 2018 Cash paid on acquisition, including working capital settlement 299 22 Settlement of stamp duty liability 3 14 Less: cash and cash equivalents acquired (7 ) (2 ) Less: working capital settlement received in year following acquisition (3 ) — Net cash outflow arising on acquisitions 292 34 |
Assets and liabilities classi_2
Assets and liabilities classified as held for sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of assets and liabilities classified as held for sale | On reclassification as held for sale there was no change to the carrying value. 2019 Assets and liabilities classified as held for sale Assets classified as held for sale: Property, plant and equipment 3 Right-of-use 15 Trade and other receivables 1 19 Liabilities classified as held for sale: Trade and other payables (2 ) Lease liabilities (20 ) (22 ) |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Goodwill and Other Intangible Assets | Goodwill Brands Software Management Other Total Cost At 1 January 2018 377 193 745 71 13 1,399 Acquisition of businesses (note 11) 83 58 — 6 — 147 Additions — — 107 — 5 112 Capitalised interest — — 5 — — 5 Disposals — — (72 ) — — (72 ) Exchange and other adjustments (5 ) (1 ) (4 ) — — (10 ) At 31 December 2018 455 250 781 77 18 1,581 Acquisition of businesses (note 11) 70 189 — 45 — 304 Additions 4 — 98 — 6 108 Capitalised interest — — 5 — — 5 Disposals — — (22 ) — — (22 ) Exchange and other adjustments — — 2 — (1 ) 1 At 31 December 2019 529 439 864 122 23 1,977 Amortisation and impairment At 1 January 2018 (140 ) — (281 ) (7 ) (4 ) (432 ) Provided — — (36 ) (3 ) (1 ) (40 ) System Fund expense — — (37 ) — — (37 ) Disposals — — 67 — — 67 Exchange and other adjustments (2 ) — 6 — — 4 At 31 December 2018 (142 ) — (281 ) (10 ) (5 ) (438 ) Provided — — (35 ) (3 ) (2 ) (40 ) System Fund expense — — (46 ) — (1 ) (47 ) Impairment charge s (49 ) — — (50 ) — (99 ) Disposals — — 22 — — 22 Exchange and other adjustments 1 — — — — 1 At 31 December 2019 (190 ) — (340 ) (63 ) (8 ) (601 ) Net book value At 31 December 2019 339 439 524 59 15 1,376 At 31 December 2018 313 250 500 67 13 1,143 At 1 January 2018 237 193 464 64 9 967 |
Summary of Carrying Value of Goodwill and Indefinite Life Brands were Allocated to CGUs for Year-end Impairment Testing | The carrying value of goodwill and indefinite life brands were allocated to CGUs for year-end impairment testing purposes as follows: 2019 2018 Goodwill Brands Goodwill Brands CGU Americas Managed 95 289 69 203 Americas Franchised 37 — 37 — EMEAA – Europe Managed 48 46 29 13 EMEAA – Europe Franchised 10 — 10 — EMEAA – rest of region 140 88 113 23 Greater China 9 16 7 11 UK portfolio 49 — — — Allocated to CGUs 388 439 265 250 Unallocated a — — 48 — 388 439 313 250 Less: UK portfolio impairment (49 ) — — — Net book value at 31 December 339 439 313 250 a The UK portfolio goodwill remained unallocated at 31 December 2018 pending completion of the portfolio acquisition in early 2019. |
Summary of Terminal Growth Rates and Discount Rates Used in Impairment Tests | The terminal growth rates and discount rates used, which are considered to be key assumptions, are as follows: 2019 2018 Terminal Pre-tax Terminal Pre-tax Americas Managed 1.9 9.6 2.0 10.5 Americas Franchised 1.9 8.6 2.0 9.6 EMEAA – Europe Managed 1.5 8.9 2.0 11.4 EMEAA – Europe Franchised 1.5 7.9 2.0 10.5 EMEAA – rest of region 3.3 11.6 3.5 13.4 Greater China 2.5 10.8 2.5 12.3 |
Summary of detailed information about intangible assets | At 31 December 2019, the net book value and remaining amortisation period of the most significant acquired management agreements were: Net book value Remaining Kimpton 10 20 Six Senses (note 11) 44 30 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Property, Plant and Equipment | Land and Fixtures, Total Cost At 1 January 2018 205 449 654 Acquisition of businesses (note 11) — 26 26 Additions 8 39 47 Fully depreciated assets written off (11 ) (167 ) (178 ) Disposals — (29 ) (29 ) Exchange and other adjustments (3 ) (4 ) (7 ) At 31 December 2018 199 314 513 Acquisition of businesses (note 11) 1 1 2 Additions 9 68 77 Transfers to assets classified as held for sale (note 12) — (12 ) (12 ) Fully depreciated assets written off (2 ) (60 ) (62 ) Disposals — (6 ) (6 ) Exchange and other adjustments — 2 2 At 31 December 2019 207 307 514 Depreciation and impairment At 1 January 2018 (78 ) (326 ) (404 ) Provided (6 ) (34 ) (40 ) System Fund expense — (8 ) (8 ) Fully depreciated assets written off 11 167 178 Disposals — 25 25 Exchange and other adjustments 1 8 9 At 31 December 2018 (72 ) (168 ) (240 ) Provided (3 ) (35 ) (38 ) System Fund expense — (2 ) (2 ) Transfers to assets classified as held for sale (note 12) — 9 9 Fully depreciated assets written off 2 60 62 Disposals — 4 4 At 31 December 2019 (73 ) (132 ) (205 ) Net book value At 31 December 2019 134 175 309 At 31 December 2018 127 146 273 At 1 January 2018 127 123 250 |
Summary of Net Book Value of Property, Plant and Equipment | The table below analyses the net book value of the Group’s property, plant and equipment by operating segment at 31 December 2019: Americas EMEAA Greater Central Total Land and buildings 120 1 — 13 134 Fixtures, fittings and equipment 43 55 — 77 175 163 56 — 90 309 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | |
Disclosure of quantitative information about right-of-use assets | Right-of-use Property Other Total Cost At 1 January 2018 740 10 750 Additions and other re-measurements 19 1 20 Acquisition of businesses (note 11) 51 — 51 Terminations (8 ) (6 ) (14 ) Exchange and other adjustments (10 ) — (10 ) At 31 December 2018 792 5 797 Additions and other re-measurements 39 1 40 Acquisition of businesses (note 11) 25 — 25 Transfers to assets classified as held for sale (note 12) (23 ) — (23 ) Terminations (15 ) (1 ) (16 ) Exchange and other adjustments 4 — 4 At 31 December 2019 822 5 827 Depreciation and impairment At 1 January 2018 (257 ) (7 ) (264 ) Provided (34 ) (1 ) (35 ) System Fund expense (4 ) — (4 ) Terminations 8 6 14 Exchange and other adjustments 5 — 5 At 31 December 2018 (282 ) (2 ) (284 ) Provided (37 ) (1 ) (38 ) System Fund expense (5 ) — (5 ) Impairment charge (32 ) — (32 ) Transfers to assets classified as held for sale (note 12) 8 — 8 Terminations 14 1 15 Exchange and other adjustments (1 ) — (1 ) At 31 December 2019 (335 ) (2 ) (337 ) Net book value At 31 December 2019 487 3 490 At 31 December 2018 510 3 513 At 1 January 2018 483 3 486 |
Disclosure Of Lease Liabilities | Lease liabilities Total lease liabilities are analysed as follows: Denominated in the following currencies: 2019 2018 US d 514 528 Sterling 52 61 Euros 43 29 Other 51 52 660 670 Analysed as: Current 65 55 Non-current 595 615 660 670 |
Disclosure Of Lease Expenditure Recognised Explanatory | The following amounts were recognised as expense/(income) in the year: 2019 2018 2017 Depreciation of right-of-use assets 38 35 34 System Fund depreciation of right-of-use assets 5 4 5 Expense relating to variable lease payments 58 48 30 Expense relating to short-term leases and low-value assets 3 3 2 Income from sub-leasing right-of-use assets (2 ) (2 ) (2 ) Impairment charge 32 — — Recognised in operating profit 134 88 69 Interest on lease liabilities 41 39 39 Total recognised in the Group income statement 175 127 108 |
Investment in associates and _2
Investment in associates and joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Investment in Associates and Joint Ventures | Associates Joint Total Cost At 1 January 2018 151 27 178 Additions 3 — 3 Share of (losses)/gains (6 ) 5 (1 ) Dividends and distributions (5 ) (32 ) (37 ) Exchange (3 ) — (3 ) At 31 December 2018 140 — 140 Additions 14 — 14 Share of (losses)/gains (3 ) — (3 ) Dividends (7 ) — (7 ) Exchange 1 — 1 At 31 December 2019 145 — 145 Impairment At 1 January 2018 (37 ) — (37 ) Exchange 1 — 1 At 31 December 201 8 (36 ) — (36 ) Exchange 1 — 1 At 31 December 2019 (35 ) — (35 ) Net book value At 31 December 2019 110 — 110 At 31 December 2018 104 — 104 At 1 January 2018 114 27 141 |
Summarised Aggregated Financial Information for Individually Immaterial Associates and Joint Ventures | The summarised aggregated financial information for individually immaterial associates and joint ventures is set out below. These are mainly investments in entities that own hotels which the Group manages. Associates Joint ventures Total 2019 2018 2017 2019 2018 2017 2019 2018 2017 Share of gains Operating profits before exceptional items 7 2 6 — 5 1 7 7 7 |
Barclay associate [member] | |
Statement [Line Items] | |
Summary of Financial Information of Material Associate Investment | Summarised financial information in respect of the Barclay associate is set out below: 31 December 31 December Non-current 515 529 Current assets 75 70 Current liabilities (22 ) (17 ) Non-current (323 ) (319 ) Net assets 245 263 Group share of reported net assets at 19.9 49 52 Adjustments to reflect capitalised costs, and additional rights and obligations under the shareholder agreement 4 7 Carrying amount 53 59 12 months to 12 months to Revenue 108 103 Loss from continuing operations and total comprehensive loss for the period (17 ) (13 ) Group’s share of loss for the period, including the cost of funding owner returns (10 ) (8 ) |
Other financial assets (Tables)
Other financial assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Financial Assets | 2019 $m 2018 Equity securities : Quoted equity shares 8 8 Unquoted equity shares 125 108 133 116 Restricted funds: Shortfall reserve deposit 25 25 Ring-fenced amounts to satisfy insurance claims: Cash 11 12 Money market funds 16 16 Bank accounts pledged as security 41 40 Other 5 2 98 95 Trade deposits and loans a 57 50 288 261 Analysed as: Current 4 1 Non-current 284 260 288 261 |
Schedule of Fair Value of Investments and Dividend Income Received | The fair value of the most significant investments at 31 December 2019 together with the dividend income received in 2019 is as follows: 2019 Fair value $m Dividend income a Investment in entity which owns: InterContinental The Willard Washington DC 36 1 InterContinental San Francisco 31 2 InterContinental Grand Stanford Hong Kong 23 1 a Reported within ‘other operating income’ in the Group income statement. |
Schedule of Maximum Risk to Credit Exposure by Geographies | The maximum exposure to credit risk of other financial assets at the end of the reporting period by geographic region is as follows: 2019 2018 Americas 169 162 EMEAA 81 68 Greater China 38 31 288 261 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Trade and Other Receivables | 2019 2018 Current Trade receivables 514 474 Other receivables 37 27 Prepayments 114 108 R eceivables from associates 1 1 666 610 |
Summary of Ageing of Trade and Other Receivables | Expected credit losses The ageing of trade and other receivables, excluding prepayments, at the end of the reporting period is: 2019 2018 Gross $m Credit loss allowance $m Net $m Gross Credit loss Net Not past due 400 (3 ) 397 356 (1 ) 355 Past due 1 to 30 days 74 (3 ) 71 71 (1 ) 70 Past due 31 to 90 56 (5 ) 51 52 (2 ) 50 Past due more than 90 days 40 (7 ) 33 34 (7 ) 27 570 (18 ) 552 513 (11 ) 502 |
Summary of movement in allowance for expected lifetime credit losses of trade and other receivables | The movement in the allowance for expected lifetime credit losses of trade and other receivables during the year is as follows: 2019 2018 2017 At 1 January (11 ) (77 ) (69 ) Adjustment arising on adoption of IFRS 9 a — 67 — Provided (20 ) (28 ) (15 ) Amounts written back — — 2 Amounts written off 14 26 6 Exchange adjustments (1 ) 1 (1 ) At 31 December (18 ) (11 ) (77 ) a IFRS 9 was applied from 1 January 2018. Under the transition method chosen, comparative information was not restated. |
Summary of Maximum Exposure to Credit Risk for Trade and Other Receivables Excluding Prepayments by Geographic Region | The maximum exposure to credit risk for trade and other receivables, excluding prepayments, at the end of the reporting period by geographic region is as follows: 2019 2018 Americas 359 325 EMEAA 141 125 Greater China 52 52 552 502 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents in the Statement of Cash Flows | 2019 2018 Cash at bank and in hand 160 202 Short-term deposits — 158 Money market funds 35 76 Repurchase agreements — 268 Cash and cash equivalents as recorded in the Group 195 704 Bank overdrafts (note 22 (87 ) (104 ) Cash and cash equivalents as recorded in the Group 108 600 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Trade and Other Payables | 2019 2018 Current Trade payables 90 132 Other tax and social security payable 42 44 Other payables 97 94 Contingent purchase consideration 1 7 Accruals 338 339 568 616 Non-current Other payables 3 1 Deferred purchase consideration 23 22 Contingent purchase consideration 90 102 116 125 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Provisions | Security i $m Litigation $m Insurance reserves $m Total $m At 1 January 2018 5 3 — 8 Reclassification from other trade and other payables — — 25 25 (Released)/provided (2 ) (1 ) 7 4 Utilised (3 ) — (7 ) (10 ) At 31 December 2018 — 2 25 27 Provided — 30 13 43 Utilised — — (8 ) (8 ) At 31 December 2019 — 32 30 62 |
Summary of Provisions Analysed as Current and Non-Current | 2019 $m 2018 Analysed as: Current 40 10 Non-current 22 17 62 27 |
Loans and other borrowings (Tab
Loans and other borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Loans and Other Borrowings | 2019 2018 Current Non-current Total Current Non-current Total Unsecured bank loans — 125 125 — — — £400m 3.875% bonds 2022 — 528 528 — 509 509 £300m 3.75% bonds 2025 — 399 399 — 385 385 £350m 2.125% bonds 2026 — 462 462 — 447 447 €500m 2.125% bonds 2027 — 564 564 — 569 569 — 2,078 2,078 — 1,910 1,910 Bank overdrafts 87 — 87 104 — 104 Total loans and other borrowings 87 2,078 2,165 104 1,910 2,014 Denominated in the following currencies: Sterling 2 1,389 1,391 — 1,341 1,341 US dollars 82 125 207 94 — 94 Euros 1 564 565 8 569 577 Other 2 — 2 2 — 2 87 2,078 2,165 104 1,910 2,014 |
Summary of Facilities Provided by Banks | 2019 2018 Utilised Unutilised Total Utilised Unutilised Total Committed 125 1,225 1,350 — 1,350 1,350 Uncommitted — 54 54 — 53 53 125 1,279 1,404 — 1,403 1,403 2019 $m 2018 Unutilised facilities expire: Within one year 54 53 After two but before five years 1,350 1,350 1,404 1,403 |
Net debt (Tables)
Net debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Net Debt | 2019 2018 Cash and cash equivalents 195 704 Loans and other borrowings – current (87 ) (104 ) – non-current (2,078 ) (1,910 ) Lease liabilities – current (65 ) (55 ) – non-current (595 ) (615 ) – classified as held for sale (note 12) (20 ) — Derivative financial instruments hedging debt values (note 24) ) 15 Net debt (2,665 ) (1,965 ) |
Summary of Movement in Net Debt | Movement in net debt Net (decrease)/increase in cash and cash equivalents, net of overdrafts (500 ) 563 Add back cash flows in respect of other components of net debt: Principal element of lease payments 59 35 Issue of long-term bonds, including effect of currency swaps — (554 ) (Increase)/decrease in other borrowings (127 ) 268 (Increase)/decrease in net debt arising from cash flows (568 ) 312 Non-cash Lease obligations (43 ) (27 ) Increase in accrued interest (7 ) (3 ) Acquisition of businesses (note 11) (25 ) (51 ) Exchange and other adjustments (57 ) 57 (Increase)/decrease in net debt (700 ) 288 Net debt at beginning of the year (1,965 ) (2,253 ) Net debt at end of the year (2,665 ) (1,965 ) |
Summary of Loans and Other Borrowings, Excluding Bank Overdrafts and Currency Swaps | Loans and other borrowings (excluding bank overdrafts), lease liabilities, and currency swaps comprise the liabilities included in the financing activities section of the Group statement of cash flows and their movements are analysed as follows: At 1 January Financing Exchange Acquisition Other At 31 December Unsecured bank loans — 127 (2 ) — — 125 Lease liabilities 670 (59 ) 1 25 43 680 £400m 3.875% bonds 2022 509 — 18 — 1 528 £300m 3.75% bonds 2025 385 — 13 — 1 399 £350m 2.125% bonds 2026 447 — 15 — — 462 €500m 2.125% bonds 2027 569 — (12 ) — 7 564 2,580 68 33 25 52 2,758 Currency swaps (7 ) — — — 27 20 2,573 68 33 25 79 2,778 At 1 January Financing Exchange Acquisition Other At 31 December Unsecured bank loans 262 (268 ) 3 — 3 — Lease liabilities 633 (35 ) (6 ) 51 27 670 £400m 3.875% bonds 2022 538 — (30 ) — 1 509 £300m 3.75% bonds 2025 406 — (23 ) — 2 385 £350m 2.125% bonds 2026 472 — (26 ) — 1 447 €500m 2.125% bonds 2027 — 559 9 — 1 569 2,311 256 (73 ) 51 35 2,580 Currency swaps: Exchange of principal — (5 ) — — (2 ) (7 ) Initial fee received — 3 — — (3 ) — — (2 ) — — (5 ) (7 ) 2,311 254 (73 ) 51 30 2,573 |
Financial risk management and_2
Financial risk management and derivative financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Derivative Financial Instruments | Derivatives are recorded in the Group statement of financial position at fair value ( see 5 ) follows Hedging instrument Hedged risk Hedge classification 2019 2018 Currency swaps Foreign exchange Cash flow hedge (20 ) 7 Short-dated foreign exchange swaps Foreign exchange Net investment hedge 1 1 (19 ) 8 Analysed as: Non-current — 7 Current assets 1 1 Non-current liabilities (20 ) — (19 ) 8 |
Summary of Interest and Foreign Exchange Risk Sensitivities | 2019 2018 2017 a $m Increase/(decrease) in profit before tax Sterling: US dollar exchange rate 5¢ fall 4.0 4.1 4.0 Euro: US dollar exchange rate 5¢ fall (2.6 ) (2.4 ) (2.1 ) US dollar interest rates 1% increase (1.6 ) (0.9 ) (2.9 ) Sterling interest rates 1% increase 0.6 5.5 0.3 Decrease/(increase) in net liabilities Sterling: US dollar exchange rate 5¢ fall 39.9 25.9 44.1 Euro: US dollar exchange rate 5¢ fall 24.1 23.8 (4.1 ) Sterling: euro exchange rate 5¢ fall 33.0 31.9 — |
Summary of Undiscounted Contractual Cash Flows of Financial Liabilities | The following are the undiscounted contractual cash flows of financial liabilities, including interest payments. The payment profile of contingent purchase Less than 1 year $m Between 1 and 2 years $m Between 2 and 5 years $m More than 5 years $m Total $m 31 December 2019 Non-derivative Bank overdrafts 87 — — — 87 Unsecured bank loans 125 — — — 125 £400m 3.875% bonds 2022 21 21 548 — 590 £300m 3.75% bonds 2025 15 15 45 411 486 £350m 2.125% bonds 2026 10 10 29 482 531 €500m 2.125% bonds 2027 12 12 36 597 657 Lease liabilities 97 116 193 3,451 3,857 Trade and other payables (excluding deferred and contingent purchase consideration) 567 1 1 1 570 Deferred and contingent purchase consideration 3 20 19 120 162 Derivative financial liabilities: Forward foreign exchange contracts (1 ) — — — (1 ) Currency swaps hedging €500m 2.125% bonds 2027 outflows 20 20 61 627 728 Currency swaps hedging €500m 2.125% bonds 2027 inflows (12 ) (12 ) (36 ) (597 ) (657 ) Less than Restated Between Restated Between Restated More than Restated Total Restated 31 December 2018 Non-derivative Bank overdrafts 104 — — — 104 £400m 3.875% bonds 2022 20 20 550 — 590 £300m 3.75% bonds 2025 14 14 43 412 483 £350m 2.125% bonds 2026 10 10 28 475 523 €500m 2.125% bonds 2027 6 12 37 621 676 Lease liabilities 93 93 226 3,479 3,891 Trade and other payables (excluding deferred and contingent purchase consideration) 609 — 1 — 610 Deferred and contingent purchase consideration 7 8 37 262 314 Derivative financial liabilities: Forward foreign exchange contracts (1 ) — — — (1 ) Currency swaps hedging €500m 2.125% bonds 2027 outflows 20 20 58 625 723 Currency swaps hedging €500m 2.125% bonds 2027 inflows (6 ) (12 ) (37 ) (621 ) (676 ) |
Classification and measuremen_2
Classification and measurement of financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Carrying Amounts and Fair Values of Financial Assets and Liabilities | 2019 $m 2018 Restated Financial assets Financial assets measured at fair value through other comprehensive income: Equity securities (note 1 7 133 116 Financial assets measured at fair value through profit or loss: Money market funds: Cash and cash equivalents (note 19) 35 76 Other financial assets (note 17) 16 16 Other financial assets (note 17) 3 — Derivative financial instruments (note 24) 1 8 55 100 Financial assets measured at amortised cost: Cash and cash equivalents (note 19) 160 628 Other financial assets (note 17) 136 129 Trade and other receivables, excluding prepayments (note 18) 552 502 848 1,259 Financial liabilities Financial liabilities measured at fair value through profit or loss: Contingent purchase consideration (note 20) (91 ) (109 ) Derivative financial instruments (note 24) (20 ) — (111 ) (109 ) Financial liabilities measured at amortised cost: Loans and other borrowings (note 22) (2,165 ) (2,014 ) Trade and other payables, excluding deferred and contingent purchase consideration (note 20) (570 ) (610 ) Deferred purchase consideration (note 20) (23 ) (22 ) (2,758 ) (2,646 ) |
Summary of Fair Value Measurement Hierarchy of Assets and Liabilities | 2019 2018 Restated Fair value Fair value Carrying Level 1 Level 2 Level 3 Total $m Carrying Level 1 Level 2 Level 3 Total Assets Equity securities 133 8 — 125 133 116 8 — 108 116 Derivative financial instruments 1 — 1 — 1 8 — 8 — 8 Money market funds 51 51 — — 51 92 92 — — 92 Trade deposits and loans 3 — — 3 3 — — — — — Liabilities Derivative financial instruments (20 ) — (20 ) — (20 ) — — — — — Contingent purchase consideration (91 ) — — (91 ) (91 ) (109 ) — — (109 ) (109 ) Deferred purchase consideration (23 ) (24 ) — — (24 ) (22 ) (22 ) — — (22 ) £400m 3.875% bonds 2022 (528 ) (567 ) — — (567 ) (509 ) (543 ) — — (543 ) £300m 3.75% bonds 2025 (399 ) (435 ) — — (435 ) (385 ) (399 ) — — (399 ) £350m 2.125% bonds 2026 (462 ) (465 ) — — (465 ) (447 ) (417 ) — — (417 ) €500m 2.125% bonds 2027 (564 ) (601 ) — — (601 ) (569 ) (566 ) — — (566 ) |
Summary of Reconciliation of Movements in the Fair Values of Financial Instruments Classified as Level 3 | The following table reconciles the movements in the fair values of financial instruments classified as Level 3 during the year: Other financial Contingent purchase assets consideration $m $m At 1 January 2018 117 — Additions 4 — Acquisition of businesses (note 11) — (109 ) Disposals (1 ) — Valuation losses recognised in other comprehensive income (10 ) — Contingent purchase consideration paid, included in net cash from investing activities — 4 Change in fair value — (4 ) Exchange and other adjustments (2 ) — At 31 December 2018 108 (109 ) Additions 8 — Acquisition of businesses (note 11) 1 (15 ) Disposals (1 ) — Valuation gains recognised in other comprehensive income 12 — Contingent purchase consideration paid: Included in net cash from operating activities — 6 Included in net cash from investing activities — 2 Change in fair value (of which $38m is recorded within exceptional items) — 27 Exchange and other adjustments — (2 ) At 31 December 2019 128 (91 ) |
Reconciliation of profit for _2
Reconciliation of profit for the year to cash flow from operations before contract acquisition costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Reconciliation of Profit for the Year to Cash Flow From Operations Before Contract Acquisition Costs | 2019 2018 2017 Profit for the year 386 350 535 Adjustments for: Net financial expenses 115 96 91 Fair value (gains)/losses on contingent purchase consideration (27 ) 4 — Income tax charge (note 8) 156 132 118 Depreciation and amortisation 116 115 112 System Fund depreciation and amortisation 54 49 41 Impairment charges (note 6) 131 — 18 Other operating exceptional items (including System Fund) (note 6) 83 151 (13 ) Share-based payments cost 42 38 27 Dividends from associates and joint ventures (note 1 6 7 5 4 Increase in trade and other receivables (50 ) (43 ) (71 ) Increase in contract costs (11 ) (3 ) (5 ) Increase in deferred revenue 57 141 43 (Decrease)/increase in trade and other payables (63 ) 11 38 Utilisation of provisions, net of charge (note 2 1 7 (6 ) — Retirement benefit contributions, net of costs (3 ) (12 ) (1 ) Cash flows relating to exceptional items (55 ) (137 ) (44 ) Contract assets deduction in revenue 21 19 17 Other items 2 4 (4 ) Total adjustments 582 564 371 Cash flow from operations before contract acquisition costs 968 914 906 |
Retirement benefits (Tables)
Retirement benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of defined benefit plans [abstract] | |
Defined Benefit Plan | Defined benefit obligation Fair value of plan assets Net defined benefit liability/(asset) 2019 2018 2017 2019 2018 2017 2019 2018 2017 $m $m $m $m $m $m $m $m $m At 91 250 244 — (152 ) (148 ) 91 98 96 Recognised in profit or loss Interest expense/(income) 3 6 9 — (2 ) (5 ) 3 4 4 Administration costs — — — — — 1 — — 1 Exceptional item: settlement loss — 14 — — 1 — — 15 — 3 20 9 — (1 ) (4 ) 3 19 5 Recognised in other comprehensive income Actuarial loss/(gain) arising from changes in: Demographic assumptions (1 ) — (1 ) — — — (1 ) — (1 ) Financial assumptions 9 (14 ) 9 — — — 9 (14 ) 9 Experience adjustments (1 ) (3 ) 2 — — — (1 ) (3 ) 2 Return on plan assets — — — — 8 (9 ) — 8 (9 ) Re-measurement loss/(gain) 7 (17 ) 10 — 8 (9 ) 7 (9 ) 1 Exchange adjustments 1 (1 ) 2 — — — 1 (1 ) 2 8 (18 ) 12 — 8 (9 ) 8 (10 ) 3 Other Company contributions — — — (6 ) (16 ) (6 ) (6 ) (16 ) (6 ) Benefits paid (6 ) (11 ) (15 ) 6 11 15 — — — Settlement payments — (150 ) — — 150 — — — — (6 ) (161 ) (15 ) — 145 9 (6 ) (16 ) (6 ) At 96 91 250 — — (152 ) 96 91 98 Comprising: UK unfunded plan 26 24 29 — — — 26 24 29 US unfunded plans 48 45 51 — — — 48 45 51 US funded plan — — 146 — — (152 ) — — (6 ) US unfunded post-retirement plans 22 22 24 — — — 22 22 24 96 91 250 — — (152 ) 96 91 98 Defined benefit obligation Fair value of plan assets Net defined benefit liability/(asset) 2019 2018 2017 2019 2018 2017 2019 2018 2017 $m $m $m $m $m $m $m $m $m Movement in asset restriction At 1 January — — — — 3 — — 3 — Recognised in other comprehensive income — — — — (3 ) 3 — (3 ) 3 At 31 December — — — — — 3 — — 3 |
Summary of Principal Financial Assumptions Used to Determine Benefit Obligations | The principal financial assumptions used by the actuaries to determine the defined 2019 2018 2017 % % % UK plan only: Pension increases 2.7 3.2 3.2 Inflation rate 2.7 3.2 3.2 Discount rate: UK plan 2.1 3.0 2.6 US plan s 2.9 3.9 3.3 US post-retirement plan 2.9 4.0 3.3 US Healthcare cost trend rate assumed for the next year: Pre-65 (ultimate rate reached in 2028) 6.7 7.1 7.7 Post - 7.1 7.6 8.7 Ultimate rate that the cost rate trends to 4.5 4.5 4.5 |
Defined Benefit Plans - Life Expectancy Assumptions at Retirement Age | The assumptions used for life expectancy at retirement age are as follows: UK US 2019 2018 2017 2019 2018 2017 Years Years Years Years Years Years Current pensioners at 65 a – male 24 24 24 21 21 21 – female 26 26 26 23 23 23 Future pensioners at 65 b – male 25 25 25 22 22 22 – female 28 28 28 24 24 24 a Relates to assumptions based on longevity (in years) following retirement at the end of the reporting period. b Relates to assumptions based on longevity (in years) relating to an employee retiring in 203 7 . |
Summary of Estimated Future Benefit Payments | 2019 2018 $m $m Within one year 6 5 Between one and five years 22 23 More than five years 36 38 64 66 2019 2018 Years Years UK plan 18.0 19.5 US plans 9.3 9.2 US post-retirement plan 9.8 9.6 |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Information about Awards Granted | APP LTIP Binomial valuation model Monte Carlo Simulation and 2019 2018 2017 2019 2018 2017 Weighted average share price 4,597.0p 4,645.0p 3,781.0p 4,850.0p 4,774.0p 4,300.0p Expected dividend yield n/a n/a n/a 2.16 % 2.27 % 2.05 % Risk-free interest rate 0.72 % 0.84 % 0.10 % Volatility a 19 % 25 % 24 % Term (years) 3.0 3.0 3.0 3.0 3.0 3.0 a The expected volatility was determined by calculating the historical volatility of the Company’s share price corresponding to the expected life of the share award. |
Summary of Movements in Awards Outstanding Under the Schemes | Movements in the awards outstanding under the schemes are as follows: APP LTIP Number of shares Performance-related Number of shares Restricted Outstanding at 1 January 2017 685 4,201 449 Granted 235 280 525 Vested (263 ) (928 ) — Share capital consolidation (21 ) — — Lapsed or cancelled (20 ) (1,160 ) (58 ) Outstanding at 31 December 2017 616 2,393 916 Granted 176 257 527 Vested (199 ) (702 ) — Lapsed or cancelled (2 ) (860 ) (142 ) Outstanding at 31 December 2018 591 1,088 1,301 Granted 217 287 540 Vested (276 ) (293 ) (422 ) Share capital consolidation (21 ) — — Lapsed or cancelled (15 ) (387 ) (144 ) Outstanding at 31 December 201 9 496 695 1,275 Fair value of awards granted during the year (cents) 2019 5,888.7 4,985.6 5,862.1 2018 6,066.2 4,748.7 5,966.0 2017 4,959.3 4,133.2 5,251.0 Weighted average remaining contract life (years) At 31 December 2019 1.1 1.3 1.2 At 31 December 2018 1.0 0.8 1.2 At 31 December 2017 1.2 0.6 1.7 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Equity Share Capital | Number Nominal Share Equity Allotted, called up and fully paid At 1 January 2017 (ordinary shares of 18 318 / 329 p each) 206 48 93 141 Share capital consolidation (9 ) — — — Exchange adjustments — 5 8 13 At 31 December 2017 (ordinary shares of 19 17 / 21 p each) 197 53 101 154 Exchange adjustments — (3 ) (5 ) (8 ) At 31 December 2018 (ordinary shares of 19 17 / 21 p each) 197 50 96 146 Share capital consolidation (10 ) — — — Exchange adjustments — 2 3 5 At 31 December 2019 (ordinary shares of 20 340 399 187 52 99 151 |
Summary of Cash Flow Hedging Reserve | The cash flow hedging reserve is analysed as follows: Cash flow hedging reserve Value of Costs of Total $m $m $m At 1 January 2018 — — — Costs of hedging deferred and recognised in other comprehensive income — (1 ) (1 ) Change in fair value of currency swaps recognised in other comprehensive income 4 — 4 Reclassified from other comprehensive income to profit or loss – included in financial expenses (8 ) — (8 ) Deferred tax 1 — 1 At 31 December 2018 (3 ) (1 ) (4 ) Costs of hedging deferred and recognised in other comprehensive income — (6 ) (6 ) Change in fair value of currency swaps recognised in other comprehensive income (34 ) — (34 ) Reclassified from other comprehensive income to profit or loss – included in financial expenses 38 — 38 At 31 December 2019 1 (7 ) (6 ) |
Capital and other commitments (
Capital and other commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Capital and Other Commitments | 2019 2018 $m $m Contracts placed for expenditure not provided for in the Group Financial Statements: Property, plant and equipment a 52 46 Intangible assets 7 7 Key money 135 83 194 136 a 2018 included a commitment to spend $33 m on the acquired UK portfolio (see note 11) within two and a half years of the acquisition date. |
Related party disclosures (Tabl
Related party disclosures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Total Compensation of Key Management Personnel | 2019 2018 2017 $m $m $m Total compensation of key management personnel Short-term employment benefits 15.8 18.2 21.3 Contributions to defined contribution pension plans 0.5 0.5 0.6 Equity compensation benefits 12.1 13.0 10.2 Termination benefits — — 1.9 28.4 31.7 34.0 |
Summary of Related Party Disclosures for Associates and Joint Ventures | Associates Joint ventures Total 2019 2018 2017 2019 2018 2017 2019 2018 2017 $m $m $m $m $m $m $m $m $m Revenue from associates and joint ventures 10 9 8 — 1 1 10 10 9 Other amounts owed by associates and joint ventures 3 1 2 — — — 3 1 2 Amounts owed to associates and joint ventures (4 ) (2 ) — — — — (4 ) (2 ) — |
System Fund (Tables)
System Fund (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of System Fund Revenues | System Fund revenues comprise: 2019 2018 2017 $m $m $m Assessment fees and contributions received from hotels 1,036 979 934 Loyalty programme revenues a 337 254 308 1,373 1,233 1,242 a Loyalty programme revenue is shown net of the cost of point redemptions. |
Summary of System Fund Expenses | System Fund expenses include: 2018 2017 2019 R tated R tated $m $m $m Marketing 461 427 405 Payroll costs (note 4) 313 347 339 Depreciation and amortisation 54 49 41 |
Group companies (Tables)
Group companies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Summary of Investment in Subsidiaries | Fully owned subsidiaries “IHG Management” d.o.o. Beograd (j) 24th Street Operator Sub, LLC (g) (k) 36th Street IHG Sub, LLC (g) (k) 426 Main Ave LLC (g) (k) 46 Nevins Street Associates, LLC (g) (k) 2250 Blake Street Hotel, LLC (g) (k) Allegro Management LLC (g) (k) Alpha Kimball Hotel LLC (g) (k) American Commonwealth Assurance Co. Ltd. (m) Asia Pacific Holdings Limited (n) Barclay Operating Corp. (cj) BHMC Canada Inc. (o) BHR Holdings B.V. (p) BHR Pacific Holdings, Inc. (k) BHTC Canada Inc. (o) Blythswood Square Glasgow Hotel OpCo Ltd (n) BOC Barclay Sub LLC (g) (cj) Bristol Oakbrook Tenant Company (k) Café Biarritz (n) Cambridge Lodging LLC (g) (k) Capital Lodging LLC (g) (k) CF Irving Owner, LLC (g) (k) CF McKinney Owner, LLC (g) (k) CF Waco Owner, LLC (g) (k) Compañia Inter-Continental De Hoteles El Salvador SA (n) Crowne Plaza LLC (g) (k) Cumberland Akers Hotel LLC (g) (k) Dunwoody Operations, Inc. (k) Edinburgh George Street Hotel OpCo Ltd (n) Edinburgh IC Limited (s) EVEN Real Estate Holding LLC (g) (k) General Innkeeping Acceptance Corporation (b) (l) Grand Central Glasgow Hotel OpCo Limited (n) Guangzhou SC Hotels Services Ltd. (t) H.I. (Ireland) Limited (u) H.I. Soaltee Management Company Ltd (ac) HI Sugarloaf, LLC (g) (ci) Hale International Ltd. (v) HC International Holdings, Inc. (w) HH France Holdings SAS (x) HH Hotels (EMEA) B.V. (p) HH Hotels (Romania) SRL (y) HIM (Aruba) NV (z) Hoft Properties LLC (g) (k) Holiday Hospitality Franchising, LLC (g) (k) Holiday Inn Mexicana S.A. de C.V. (ab) Holiday Inns (China) Ltd (ac) Holiday Inns (Chongqing), Inc. (l) Holiday Inns (Courtalin) Holdings SAS (x) Holiday Inns (Courtalin) SAS (x) Holiday Inns (England) Limited (n) Holiday Inns (Germany), LLC (g) (l) Holiday Inns (Guangzhou), Inc. (l) Holiday Inns (Jamaica) Inc. (l) Holiday Inns (Middle East) Limited (ac) Holiday Inns (Philippines), Inc. (l) Holiday Inns (Saudi Arabia), Inc. (l) Holiday Inns (Thailand) Ltd. (ac) Holiday Inns (UK), Inc. (l) Holiday Inns Crowne Plaza (Hong Kong), Inc. (l) Holiday Inns Holdings (Australia) Pty Ltd (aa) Holiday Inns Inc. (k) Holiday Inns Investment (Nepal) Ltd. (ac) Holiday Inns of America (UK) Limited (n) Holiday Inns of Belgium N.V. (ad) Holiday Pacific Equity Corporation (k) Holiday Pacific LLC (g) (k) Holiday Pacific Partners, LP (k) Hotel InterContinental London (Holdings) Limited (n) Hotel Inter-Continental London Limited (n) Hoteles Y Turismo HIH SRL (n) IC Hotelbetriebsfuhrungs GmbH (ae) IC Hotels Management (Portugal) Unipessoal, Lda (af) IC International Hotels Limited Liability IHC Buckhead, LLC (g) (ci) IHC Edinburgh (Holdings) (n) IHC Hopkins (Holdings) Corp. (k) IHC Hotel Limited (n) IHC Inter-Continental (Holdings) Corp. (k) IHC London (Holdings) (n) IHC May Fair (Holdings) Limited (n) IHC May Fair Hotel Limited IHC M-H (Holdings) Corp. (k) IHC Overseas (U.K.) Limited (n) IHC UK (Holdings) Limited (n) IHC United States (Holdings) Corp. (b) (k) IHC Willard (Holdings) Corp. (k) IHG (Marseille) SAS (x) IHG (Myanmar) Ltd (ah) IHG (Thailand) Limited (aj) IHG Bangkok Ltd (v) IHG Brasil Administracao de Hoteis e Servicos Ltda (ak) IHG Civ Holding Co-Investment Fund, LLC (g) (k) IHG Civ Holding Main Fund, LLC (g) (k) IHG Commission Services SRL (co) IHG Community Development, LLC (g) (ci) IHG de Argentina SA (al) IHG ECS (Barbados) SRL (co) IHG Franchising Brasil Ltda (bd) IHG Franchising DR Corporation (k) IHG Franchising, LLC (g) (k) IHG Hotels (New Zealand) Limited (an) IHG Hotels Limited (n) IHG Hotels Management (Australia) Pty Limited ( b IHG Hotels Nigeria Limited (ao) IHG Hotels South Africa (Pty) Limited (ap) IHG International Partnership (n) IHG Istanbul Otel Yönetim Limited Sirketi (bx) IHG Japan (Management) LLC (ar) IHG Japan (Osaka) LLC (ar) IHG Management (Maryland) LLC (g) (as) IHG Management (Netherlands) B.V. (p) IHG Management MD Barclay Sub LLC (g) (cj) IHG Management SL d.o.o (bo) IHG Mexico Operaciones SA de CV (ab) IHG Orchard Street Member, LLC (g) (k) IHG Peru SRL (dd) IHG PS Nominees Limited (n) IHG Sermex SA de CV (ab) IHG Systems Pty Ltd ( b IHG Szalloda Budapest Szolgaltato Kft. (at) IND East Village SD Holdings, LLC InterContinental Berlin Service Company GmbH (au) InterContinental (Branston) 1 Limited (c) (n) InterContinental (PB) 1 InterContinental (PB) 3 Limited (n) InterContinental Brasil Administracao de Hoteis Ltda (q) Inter-Continental D.C. Operating Corp. (k) Inter-Continental Florida Investment Corp. (k) Inter-Continental Florida Partner Corp. (k) InterContinental Gestion Hotelera S.L. (by) Inter-Continental Hospitality Corporation (k) InterContinental Hotel Berlin GmbH (au) InterContinental Hotel Düsseldorf GmbH (av) Inter-Continental Hoteleira Limitada (aw) Inter-Continental Hotels (Montreal) Operating Corp. (ax) Inter-Continental Hotels (Montreal) Owning Corp. (ax) InterContinental Hotels (Puerto Rico) Inc. (az) Inter-Continental Hotels (Singapore) Pte. Ltd. (ai) Inter-Continental Hotels Corporation (k) Inter-Continental Hotels Corporation de Venezuela C.A. (ba) Intercontinental Hotels Corporation Limited ( b InterContinental Hotels Group (Asia Pacific) Pte Ltd (ai) InterContinental Hotels Group (Australia) Pty Limited InterContinental Hotels Group (Canada) Inc. (o) InterContinental Hotels Group (España) SA (by) InterContinental Hotels Group (Greater China) Limited (ac) InterContinental Hotels Group (India) Pvt. Ltd (aq) InterContinental Hotels Group (Japan) Inc. (l) InterContinental Hotels Group (New Zealand) Limited (an) InterContinental Hotels Group (Shanghai) Ltd. (bb) InterContinental Hotels Group Customer Services Limited (n) InterContinental Hotels Group do Brasil Limitada InterContinental Hotels Group Healthcare Trustee Limited (n) InterContinental Hotels Group Operating Corp. (e) (k) InterContinental Hotels Group Resources, LLC (b) (k) InterContinental Hotels Group Services Company (n) InterContinental Hotels Italia, S.r.L. (be) InterContinental Hotels Limited (a) (n) InterContinental Hotels Management GmbH (bf) InterContinental Hotels Nevada Corporation (ck) Inter-Continental Hotels of San Francisco Inc. (k) Inter-Continental IOHC (Mauritius) Limited (bg) InterContinental Management AM LLC (cm) InterContinental Management Bulgaria EOOD (bp) InterContinental Management France SAS (x) InterContinental Management Poland sp. z.o.o (cn) InterContinental Overseas Holdings, LLC (k) KG Benefits LLC (g) (k) KG Gift Card Inc. (bz) KG Liability LLC (g) (k) KG Technology, LLC (g) (k) KHP Washington Operator LLC (g) (k) KHRG 11th Avenue Hotel LLC (g) (k) KHRG 851 LLC (g) (k) KHRG Aertson LLC (g) (k) KHRG Alexis, LLC (g) (k) KHRG Allegro, LLC (g) (k) KHRG Argyle, LLC KHRG Austin Beverage Company, LLC KHRG Baltimore, LLC KHRG Born LLC KHRG Boston Hotel, LLC KHRG Bozeman LLC KHRG Canary LLC KHRG Cayman LLC KHRG Cayman Employer Ltd. KHRG Dallas LLC (g) (k) KHRG Dallas Beverage Company LLC (k) KHRG DC 1731 LLC (g) (k) KHRG DC 2505 LLC (g) (k) KHRG Employer, LLC (g) (k) KHRG Goleta LLC (g) (k) KHRG Gray LLC (g) (k) KHRG Gray U2 LLC (g) (k) KHRG Huntington Beach LLC (g) (k) KHRG Key West LLC (g) (k) KHRG King Street, LLC (g) (k) KHRG La Peer LLC (g) (k) KHRG Miami Beach LLC (g) (k) KHRG Muse LLC (g) (k) KHRG New Orleans LLC (g) (k) KHRG NPC LLC (g) (k) KHRG Palladian LLC (g) (k) KHRG Palomar Phoenix LLC (g) (k) KHRG Philly Monaco LLC (g) (k) KHRG Pittsburgh LLC (g) (k) KHRG Porsche Drive LLC (g) (k) KHRG Reynolds LLC (g) (k) KHRG Riverplace LLC (g) (k) KHRG Sacramento LLC (g) (k) KHRG Savannah LLC (g) (k) KHRG Schofield LLC (g) (k) KHRG SFD LLC (g) (k) KHRG SF Wharf LLC (g) (k) KHRG SF Wharf U2 LLC (g) (k) KHRG South Beach LLC (g) (k) KHRG State Street LLC (g) (k) KHRG Sutter LLC (g) (k) KHRG Sutter Union LLC (g) (k) KHRG Taconic LLC (g) (k) KHRG Tariff LLC (g) (k) KHRG Texas Hospitality, LLC (g) (k) KHRG Texas Operations, LLC (g) (k) KHRG Tryon LLC (g) (k) KHRG Vero Beach, LLC (g) (k) KHRG Vintage Park LLC (g) (k) KHRG VZ Austin LLC (g) (k) KHRG Wabash LLC (g) (k) KHRG Westwood, LLC (g) (k) KHRG Wilshire LLC (g) (k) Kimpton Hollywood Licenses LLC (g) (k) Kimpton Hotel & Restaurant Group, LLC (g) (k) Kimpton Phoenix Licenses Holdings LLC (g) (k) Louisiana Acquisitions Corp. (k) Luxury Resorts and Spas (France) SAS (dc) Manchester Oxford Street Hotel OpCo Limited (n) Mercer Fairview Holdings LLC (g) (k) Met Leeds Hotel OpCo Limited (n) MH Lodging LLC (g) (k) Oxford Spires Hotel OpCo Limited (n) Oxford Thames Hotel OpCo Limited (n) PML Services LLC Pollstrong Limited Powell Pine, Inc. Priscilla Holiday of Texas, Inc. PT Regent Indonesia bh PT SC Hotels & Resorts Indonesia Raison d’Etre Holdings (BVI) Limited Raison d’Etre Services (BVI) Limited Raison d’Etre Spas Sweden AB Regent Asia Pacific Hotel Management Ltd Regent Asia Pacific Management Ltd Regent Berlin GmbH Regent International Hotels Ltd Resort Services International (Cayo Largo) L.P. Roxburghe Hotel Edinburgh OpCo Limited Russell London Hotel OpCo Limited SBS Maryland Beverage Company LLC SC Hotels International Services, Inc. SC Leisure Group Limited SC NAS 2 Limited SC Quest Limited SC Reservations (Philippines) Inc. SCH Insurance Company SCIH Branston 3 Semiramis for training of Hotel Personnel and Hotel Management SAE SF MH Acquisition LLC Six Continents Holdings Limited Six Continents Hotels de Colombia SA Six Continents Hotels International Limited Six Continents Hotels, Inc. Six Continents International Holdings B.V. Six Continents Investments Limited Six Continents Limited Six Continents Overseas Holdings Limited Six Continents Restaurants Limited SixCo North America, Inc. Six Senses America IP LLC (k) Six Senses Capital Pte. Ltd (cr) Six Senses North America Management LLC (k) SLC Sustainable Luxury Cyprus Limited Solamar Lodging LLC Southern Pacific Hotel Corporation (BVI) Ltd. Southern Pacific Hotels Properties Limited SPHC Group Pty Ltd. SPHC Management Ltd. St David’s Cardiff Hotel OpCo Limited Sustainable Luxury Holdings (BVI) Limited Sustainable Luxury Hospitality (Thailand) Limited Sustainable Luxury Lanka Pvt. Ltd Sustainable Luxury Maldives Private Limited Sustainable Luxury Management (Thailand) Limited Sustainable Luxury Mauritius Limited Sustainable Luxury Operations (Thailand) Ltd Sustainable Luxury Services (BVI) Limited Sustainable Luxury Singapore Private. Limited Sustainable Luxury UK Limited Sustainable Luxury USA Limited Sustainable Luxury Vietnam Company Limited The Grand Central Hotel Glasgow Limited The Met Hotel Leeds Limited The Principal Edinburgh George Street Limited The Principal London Limited The Principal Manchester Limited The Principal York Limited The Roxburghe Hotel Edinburgh Limited Universal de Hoteles SA White Shield Insurance Company Limited Wotton House Hotel OpCo Limited York Station Road Hotel OpCo Limited Subsidiaries where the effective interest is less than 100% IHG ANA Hotels Group Japan LLC (74.66%) (ar) IHG ANA Hotels Holdings Co., Ltd. (66%) (ar) Regent Hospitality Worldwide, Inc. (51%) (bt) Sustainable Luxury Holdings (Thailand) Limited (49%) (cu) World Trade Centre Montreal Hotel Corporation (74.11%) (bl) Associates, joint ventures and other 111 East 48th Street Holdings LLC (19.9%) (g) (h) (k) Alkoer, S. de R.L. de C.V. (50%) (h) (cg) BCRE IHG 180 Orchard Holdings LLC (49%) (g) (cf) Beijing Orient Express Hotel Co., Ltd. (16.24%) (bm) Blue Blood (Tianjin) Equity Investment Carr Clark SWW Subventure, LLC (26.67%) (g) (ca) Carr Waterfront Hotel, LLC (11.46%) (g) (h) (ca) China Hotel Investment Limited (30.05%) (i) (am) Desarrollo Alkoer Irapuato S. de R.L. de C.V. (50%) (cg) Desarrollo Alkoer Saltillo S. de R.L. de C.V. (50%) (cg) Desarrollo Alkoer Silao S. de R.L. de C.V. (50%) (cg) EDG Alpharetta EH LLC (0%) (d) (h) (r) Gestion Hotelera Gestel, C.A. (50%) (c) (h) (ba) Groups360 LLC (13.15%) (h) H.I. Soaltee Hotel Company Private Ltd (33.4%) (br) Hotel JV Services LLC (17.8%) (c) (g) (cb) Inter-Continental Hotels Saudi Arabia Limited (40%) NF III Seattle, LLC (25%) (g) (cc) Nuevas Fronteras S.A. ( 23.66 Panacon (33.33%) (ce) President Hotel & Tower Co Ltd. (30%) (bu) Sustainable Luxury Gravity Global Private Limited (51%) (h) (de) SURF-Samui Pte. Ltd (49%) (ay) Tianjin ICBCI IHG Equity Investment Fund Management Co., Limited (21.04%) (bv) Key (a) Directly owned by InterContinental Hotels Group PLC (b) Ordinary shares and preference shares (c) Ordinary A and ordinary B shares (d) 8% cumulative preference shares (e) 1/4 vote ordinary shares and ordinary shares (f) Ordinary shares, 5% cumulative preference shares and 7% cumulative preference shares (g) The entities do not have share capital and are governed by an operating agreement (h) Accounted for as associates and joint ventures due to IHG’s decision-making rights contained in the partnership agreement (i) Accounted for as an other financial asset due to IHG being unable to exercise significant influence over the financial and operating policy decisions of the entity Registered addresses (j) Krunska 73, Beograd, 11000, Serbia (k) 251 Little Falls Drive, Wilmington, DE 19808, USA (l) 2908 Poston Avenue, Nashville, TN 37203, USA (m) Clarendon House, 2 Church Street, Hamilton HM11, Bermuda (n) Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK (o) 199 Bay Street, Suite 2800, Commerce Court West, Toronto, ON M5L 1A9, Canada (p) Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands (q) Alameda Jau 536, Suite 3s-A, 01420-000 Sao Paulo, Brazil (r) 20200 W Dixie Highway, Suite #908, Miami, FL 33180, USA (s) Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, UK (t) Building 4, No. 13 Xiao Gang Zhong Ma Road, Zhuhai District, Guangzhou, Guangdong, P.R. China (u) 29 Earlsfort Terrace, Dublin 2, D02 AY28, Ireland (v) Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands (w) Wilmington Trust SP Services, Inc. 1105 North Market Street, Suite 1300, Wilmington, DE 19801, USA (x) 31–33 rue Mogador – 75009 Paris, France (y) Bucharest, 1st District, 50–52 Buzesti St, 83 module, 11 floor, Romania (z) 230 J E Irausquin Boulevard, Palm Beach, Aruba (aa) Level 11, 20 Bond Street, Sydney NSW 2000, Australia (ab) Ontario # 1050, Col. Providencia. Guadalajara, Jalisco CP 44630, Mexico (ac) Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong (ad) Rond Punt Schumanplein 11, 1040 Brussels, Belgium (ae) QBC 4 – Am Belvedere 4, 1100, Vienna, Austria (af) Avenida da Republica, no 52 – 9, 1069 – 211, Lisbon, Portugal (ag) 24, Rusakovskaya Str., Moscow 107014, Russian Federation (ah) 10 Bo Yar Zar Street, Kyaukkone Yankin Township, Yangon, Myanmar (ai) 230 Victoria Street, #13-00 Bugis Junction Towers, 188024, Singapore (aj) 973 President Tower, 7th Floor, Units 7A, 7B, 7C, 7D, 7I, 7F, 7G and 7H, Ploenchit Road, Khwaeng Lumpini, Khet Pathumwan, Bangkok Metropolis, 10330, Thailand (ak) Alameda Jau 536, Suite 3S-B, 01420-000 Sao Paulo, Brazil (al) Avenida Cordoba 1547, piso 8, oficina A, Buenos Aires, Argentina (am) The Phoenix Centre, George Street, Belleville St. Michael, Barbados (an) Level 10, Commerce Street, Auckland Central, Auckland 1000, New Zealand (ao) 1, Murtala Muhammed Drive, Ikoyi, Lagos, Nigeria (ap) Central Office Park Unit 4, 257 Jean Avenue, Centurion 0157, South Africa (aq) 11th Floor, Building No. 10, Tower C, DLF Phase-II, DLF Cyber City, Gurgaon, Haryana-122002, India (ar) 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan (as) HIQ Corporate Services Inc., 715 St. Paul Street, Baltimore, MD 21202, USA (at) 1052 Budapest, Apáczai Csere János u. 12–14, Hungary (au) Budapester Str. 2, 10787 Berlin, Germany (av) Koenigsallee 59, D-40215, Dusseldorf, Germany (aw) Alameda Jau 536, Suite 3S-E, 01420-000 São Paulo, Brazil (ax) InterContinental Montreal, 360 St. Antoine Street West, Montreal, Quebec H2Y 3X4, Canada (ay) 168 Robinson Road, #12-01, (az) 361 San Francisco Street Penthouse, San Juan, PR 00901, Puerto Rico (ba) Hotel Tamanaco Inter-Continental, Final Av. Ppal, Mercedes, Caracas, Venezuela (bb) 22nd Floor, Citigroup Tower, No. 33 Huayuanshiqiao Road, Pudong, Shanghai, P.R. China (bc) Alameda Jau 536, Suite 3S-C, 01420-000 São Paulo, Brazil (bd) Alameda Jau 536, Suite 3S-D, 01420-000 São Paulo, Brazil (be) Viale Monte Nero n.84, 20135 Milano, Italy (bf) Thurn-und-Taxis-Platz 6 – 60313 Frankfurt am Main, Germany (bg) JurisTax Services Ltd, Level 12, NeXTeracom Tower II, Ebene, Mauritius (bh) Menara Impreium 22nd Floor, Suite D, JI. HR. Rasuna Said Kav.1, Guntur Sub-district, Setiabudi District, South Jakarta 12980, Indonesia (bi) 150 South Champlain Street, Burlington, VT 05401, USA (bj) Calle 49, Sur 45 A 300 Of 1102 Envigado Antioquia, Colombia (bk) Suite B, Ground Floor, Regal House, Queensway, Gibraltar (bl) Suite 2500, 1000 De La Gauchetiere St. West, Montreal QC H3B 0A2, Canada (bm) Room 311, Building 1, No 6 East Wen Hua Yuan Road, Beijing Economy and Technology Development Zone, Beijing, P.R.China (bn) Room N306, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China (bo) Cesta v Mestni log 1, 1000 Ljubljana, Slovenia (bp) 37A Professor Fridtjof Nansen Street, 5th Floor, District Sredets, Sofia, 1142, Bulgaria (bq) C/o Holiday Inn & Suites, Cnr Waigani Drive & Wards Road, Port Moresby, National Capital District, Papua New Guinea (br) Tahachal, Kathmandu, Nepal (bs) Madinah Road, Jeddah, P.O Box 9456, Post Code 21413, Jeddah, Saudi Arabia (bt) Maples Corporate Services Ltd. – PO Box 309, Ugland House, Grand Cayman – KY-1104, Cayman Islands (bu) 971, 973 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Thailand (bv) Room R316, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China (bw) 14th Floor, South China Building, 1-3 Wyndham Street, Hong Kong (bx) Eski Büyükdere Cd. Park Plaza No:14 K:4 Maslak – Sarıyer, Istanbul, Turkey (by) Paseo de la Castellana 49, 28046 Madrid, Spain (bz) 2710 Gateway Oaks Drive, Suite 150N, Sacramento, CA 95833-3505, USA (ca) Carr Hospitality, LLC, 1455 Pennsylvania Avenue, NW, Suite 100, Washington, DC 20004, USA (cb) 2711 Centerville Road, Suite 400, Wilmington, DE 19805, USA (cc) 2000 Monarch Tower, 3424 Peachtree Road, N.E., Atlanta, GA 30326, USA (cd) Moreno 809 2 Piso, Buenos Aires, Argentina (ce) Pan-American (cf) Brack Capital Real Estate Ltd., 885 Third Avenue, 24th Floor, New York, NY 10022, USA (cg) Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico (ch) Ground Floor, Al Kamel Law Building, Plot 52-b, Banks Area, Six of October City, Egypt (ci) 40 Technology Pkwy South, #300 Norcross GA 30092, USA (cj) 80 State Street, Albany NY 12207-2543, USA (ck) 2215-B Renaissance Drive, Las Vegas, NV 89119, USA (cl) 11003 Onion Creek Court, Austin, TX 78747, USA (cm) 23/6 D. Anhaght Str., Yerevan, 0069, Armenia (cn) Generation Park Z – ul. Towarowa 28, 00-839 Warsaw, Poland (co) Suite 1, Ground Floor, The Financial Services Centre, Bishops Court Hill, St. Michael, Barbados, BB14004 (cp) Brumby Centre, Lot 42, Jalan Muhibbah, 87000 Labuan F.T., Malaysia (cq) Charlottenstrasse 49, Berlin, 10117, Germany (cr) Trident Corporate Services (Singapore) Pte. Limited, 96 Robinson Road, #16-01 SIF Building, 068899, Singapore (cs) ATS Services Limited, Capital Center, 9th Floor, 2-4 Arch. Makarios III Ave., 1065 Nicosia, Cyprus (ct) Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands (cu) 57, 9th Floor, Park Ventures Ecoplex, Unit 902-904, Wireless Road, Limpini, Pathum Wan Bangkok 10330, Thailand (cv) No. 9/5 Thambiah Ave, Colombo 7, Sri Lanka (cw) Premier Chambers, M.Lux Lodge, 1st Floor, Orchid Magu, Male, Republic of Maldives (cx) Venture Corporate Services (Mauritius) Ltd, Level 3, Tower 1, Nexteracom Towers, Cybercity, Ebene, Mauritius (cy) Berg Kaprow Lewis LLP, 35 Ballards Lane, DX 57284 Finchley 2, London, N3 1XW, UK (cz) Corporation Service Company, 1180 Ave. Of the Americas, New York 10036, USA (da) PDD Building, 162 Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam (db) Grevgatan 13, 11453 Stockholm, Sweden (dc) 95 Blvd. Berthier, 75017 Paris, France (dd) Bernardo Montengudo 201, 15076, Lima, Peru (de) B-11515 Bhikaj Cama Place, New Delhi, South Delhi, India, 110066 |
Summary of Investment in Associates | Associates, joint ventures and other 111 East 48th Street Holdings LLC (19.9%) (g) (h) (k) Alkoer, S. de R.L. de C.V. (50%) (h) (cg) BCRE IHG 180 Orchard Holdings LLC (49%) (g) (cf) Beijing Orient Express Hotel Co., Ltd. (16.24%) (bm) Blue Blood (Tianjin) Equity Investment Carr Clark SWW Subventure, LLC (26.67%) (g) (ca) Carr Waterfront Hotel, LLC (11.46%) (g) (h) (ca) China Hotel Investment Limited (30.05%) (i) (am) Desarrollo Alkoer Irapuato S. de R.L. de C.V. (50%) (cg) Desarrollo Alkoer Saltillo S. de R.L. de C.V. (50%) (cg) Desarrollo Alkoer Silao S. de R.L. de C.V. (50%) (cg) EDG Alpharetta EH LLC (0%) (d) (h) (r) Gestion Hotelera Gestel, C.A. (50%) (c) (h) (ba) Groups360 LLC (13.15%) (h) H.I. Soaltee Hotel Company Private Ltd (33.4%) (br) Hotel JV Services LLC (17.8%) (c) (g) (cb) Inter-Continental Hotels Saudi Arabia Limited (40%) NF III Seattle, LLC (25%) (g) (cc) Nuevas Fronteras S.A. ( 23.66 Panacon (33.33%) (ce) President Hotel & Tower Co Ltd. (30%) (bu) Sustainable Luxury Gravity Global Private Limited (51%) (h) (de) SURF-Samui Pte. Ltd (49%) (ay) Tianjin ICBCI IHG Equity Investment Fund Management Co., Limited (21.04%) (bv) Key (a) Directly owned by InterContinental Hotels Group PLC (b) Ordinary shares and preference shares (c) Ordinary A and ordinary B shares (d) 8% cumulative preference shares (e) 1/4 vote ordinary shares and ordinary shares (f) Ordinary shares, 5% cumulative preference shares and 7% cumulative preference shares (g) The entities do not have share capital and are governed by an operating agreement (h) Accounted for as associates and joint ventures due to IHG’s decision-making rights contained in the partnership agreement (i) Accounted for as an other financial asset due to IHG being unable to exercise significant influence over the financial and operating policy decisions of the entity Registered addresses (j) Krunska 73, Beograd, 11000, Serbia (k) 251 Little Falls Drive, Wilmington, DE 19808, USA (l) 2908 Poston Avenue, Nashville, TN 37203, USA (m) Clarendon House, 2 Church Street, Hamilton HM11, Bermuda (n) Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK (o) 199 Bay Street, Suite 2800, Commerce Court West, Toronto, ON M5L 1A9, Canada (p) Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands (q) Alameda Jau 536, Suite 3s-A, 01420-000 Sao Paulo, Brazil (r) 20200 W Dixie Highway, Suite #908, Miami, FL 33180, USA (s) Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, UK (t) Building 4, No. 13 Xiao Gang Zhong Ma Road, Zhuhai District, Guangzhou, Guangdong, P.R. China (u) 29 Earlsfort Terrace, Dublin 2, D02 AY28, Ireland (v) Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands (w) Wilmington Trust SP Services, Inc. 1105 North Market Street, Suite 1300, Wilmington, DE 19801, USA (x) 31–33 rue Mogador – 75009 Paris, France (y) Bucharest, 1st District, 50–52 Buzesti St, 83 module, 11 floor, Romania (z) 230 J E Irausquin Boulevard, Palm Beach, Aruba (aa) Level 11, 20 Bond Street, Sydney NSW 2000, Australia (ab) Ontario # 1050, Col. Providencia. Guadalajara, Jalisco CP 44630, Mexico (ac) Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong (ad) Rond Punt Schumanplein 11, 1040 Brussels, Belgium (ae) QBC 4 – Am Belvedere 4, 1100, Vienna, Austria (af) Avenida da Republica, no 52 – 9, 1069 – 211, Lisbon, Portugal (ag) 24, Rusakovskaya Str., Moscow 107014, Russian Federation (ah) 10 Bo Yar Zar Street, Kyaukkone Yankin Township, Yangon, Myanmar (ai) 230 Victoria Street, #13-00 Bugis Junction Towers, 188024, Singapore (aj) 973 President Tower, 7th Floor, Units 7A, 7B, 7C, 7D, 7I, 7F, 7G and 7H, Ploenchit Road, Khwaeng Lumpini, Khet Pathumwan, Bangkok Metropolis, 10330, Thailand (ak) Alameda Jau 536, Suite 3S-B, 01420-000 Sao Paulo, Brazil (al) Avenida Cordoba 1547, piso 8, oficina A, Buenos Aires, Argentina (am) The Phoenix Centre, George Street, Belleville St. Michael, Barbados (an) Level 10, Commerce Street, Auckland Central, Auckland 1000, New Zealand (ao) 1, Murtala Muhammed Drive, Ikoyi, Lagos, Nigeria (ap) Central Office Park Unit 4, 257 Jean Avenue, Centurion 0157, South Africa (aq) 11th Floor, Building No. 10, Tower C, DLF Phase-II, DLF Cyber City, Gurgaon, Haryana-122002, India (ar) 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan (as) HIQ Corporate Services Inc., 715 St. Paul Street, Baltimore, MD 21202, USA (at) 1052 Budapest, Apáczai Csere János u. 12–14, Hungary (au) Budapester Str. 2, 10787 Berlin, Germany (av) Koenigsallee 59, D-40215, Dusseldorf, Germany (aw) Alameda Jau 536, Suite 3S-E, 01420-000 São Paulo, Brazil (ax) InterContinental Montreal, 360 St. Antoine Street West, Montreal, Quebec H2Y 3X4, Canada (ay) 168 Robinson Road, #12-01, (az) 361 San Francisco Street Penthouse, San Juan, PR 00901, Puerto Rico (ba) Hotel Tamanaco Inter-Continental, Final Av. Ppal, Mercedes, Caracas, Venezuela (bb) 22nd Floor, Citigroup Tower, No. 33 Huayuanshiqiao Road, Pudong, Shanghai, P.R. China (bc) Alameda Jau 536, Suite 3S-C, 01420-000 São Paulo, Brazil (bd) Alameda Jau 536, Suite 3S-D, 01420-000 São Paulo, Brazil (be) Viale Monte Nero n.84, 20135 Milano, Italy (bf) Thurn-und-Taxis-Platz 6 – 60313 Frankfurt am Main, Germany (bg) JurisTax Services Ltd, Level 12, NeXTeracom Tower II, Ebene, Mauritius (bh) Menara Impreium 22nd Floor, Suite D, JI. HR. Rasuna Said Kav.1, Guntur Sub-district, Setiabudi District, South Jakarta 12980, Indonesia (bi) 150 South Champlain Street, Burlington, VT 05401, USA (bj) Calle 49, Sur 45 A 300 Of 1102 Envigado Antioquia, Colombia (bk) Suite B, Ground Floor, Regal House, Queensway, Gibraltar (bl) Suite 2500, 1000 De La Gauchetiere St. West, Montreal QC H3B 0A2, Canada (bm) Room 311, Building 1, No 6 East Wen Hua Yuan Road, Beijing Economy and Technology Development Zone, Beijing, P.R.China (bn) Room N306, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China (bo) Cesta v Mestni log 1, 1000 Ljubljana, Slovenia (bp) 37A Professor Fridtjof Nansen Street, 5th Floor, District Sredets, Sofia, 1142, Bulgaria (bq) C/o Holiday Inn & Suites, Cnr Waigani Drive & Wards Road, Port Moresby, National Capital District, Papua New Guinea (br) Tahachal, Kathmandu, Nepal (bs) Madinah Road, Jeddah, P.O Box 9456, Post Code 21413, Jeddah, Saudi Arabia (bt) Maples Corporate Services Ltd. – PO Box 309, Ugland House, Grand Cayman – KY-1104, Cayman Islands (bu) 971, 973 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Thailand (bv) Room R316, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China (bw) 14th Floor, South China Building, 1-3 Wyndham Street, Hong Kong (bx) Eski Büyükdere Cd. Park Plaza No:14 K:4 Maslak – Sarıyer, Istanbul, Turkey (by) Paseo de la Castellana 49, 28046 Madrid, Spain (bz) 2710 Gateway Oaks Drive, Suite 150N, Sacramento, CA 95833-3505, USA (ca) Carr Hospitality, LLC, 1455 Pennsylvania Avenue, NW, Suite 100, Washington, DC 20004, USA (cb) 2711 Centerville Road, Suite 400, Wilmington, DE 19805, USA (cc) 2000 Monarch Tower, 3424 Peachtree Road, N.E., Atlanta, GA 30326, USA (cd) Moreno 809 2 Piso, Buenos Aires, Argentina (ce) Pan-American (cf) Brack Capital Real Estate Ltd., 885 Third Avenue, 24th Floor, New York, NY 10022, USA (cg) Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico (ch) Ground Floor, Al Kamel Law Building, Plot 52-b, Banks Area, Six of October City, Egypt (ci) 40 Technology Pkwy South, #300 Norcross GA 30092, USA (cj) 80 State Street, Albany NY 12207-2543, USA (ck) 2215-B Renaissance Drive, Las Vegas, NV 89119, USA (cl) 11003 Onion Creek Court, Austin, TX 78747, USA (cm) 23/6 D. Anhaght Str., Yerevan, 0069, Armenia (cn) Generation Park Z – ul. Towarowa 28, 00-839 Warsaw, Poland (co) Suite 1, Ground Floor, The Financial Services Centre, Bishops Court Hill, St. Michael, Barbados, BB14004 (cp) Brumby Centre, Lot 42, Jalan Muhibbah, 87000 Labuan F.T., Malaysia (cq) Charlottenstrasse 49, Berlin, 10117, Germany (cr) Trident Corporate Services (Singapore) Pte. Limited, 96 Robinson Road, #16-01 SIF Building, 068899, Singapore (cs) ATS Services Limited, Capital Center, 9th Floor, 2-4 Arch. Makarios III Ave., 1065 Nicosia, Cyprus (ct) Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands (cu) 57, 9th Floor, Park Ventures Ecoplex, Unit 902-904, Wireless Road, Limpini, Pathum Wan Bangkok 10330, Thailand (cv) No. 9/5 Thambiah Ave, Colombo 7, Sri Lanka (cw) Premier Chambers, M.Lux Lodge, 1st Floor, Orchid Magu, Male, Republic of Maldives (cx) Venture Corporate Services (Mauritius) Ltd, Level 3, Tower 1, Nexteracom Towers, Cybercity, Ebene, Mauritius (cy) Berg Kaprow Lewis LLP, 35 Ballards Lane, DX 57284 Finchley 2, London, N3 1XW, UK (cz) Corporation Service Company, 1180 Ave. Of the Americas, New York 10036, USA (da) PDD Building, 162 Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam (db) Grevgatan 13, 11453 Stockholm, Sweden (dc) 95 Blvd. Berthier, 75017 Paris, France (dd) Bernardo Montengudo 201, 15076, Lima, Peru (de) B-11515 Bhikaj Cama Place, New Delhi, South Delhi, India, 110066 |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounting policies [line items] | |||
Fair value of trust assets | $ 218 | $ 193 | |
Depreciation method, property, plant and equipment | All depreciation is charged on a straight-line basis. | ||
Lease expenses per annum | $ 58 | 48 | $ 30 |
Depreciation,right of use assets | 38 | 35 | 34 |
Interest expenses on additional lease liabilities | 121 | 101 | 95 |
Payment of lease liabilites classified as financing activities | (660) | 51 | (471) |
Right of use assets | 490 | 513 | 486 |
Lease liabilities | 660 | 670 | |
Net assets liabilities | (1,465) | (1,131) | (1,354) |
Impairment Charge | 32 | ||
Trade and other payables | 90 | 132 | |
Prepayments | 114 | 108 | |
Previously stated [member] | |||
Accounting policies [line items] | |||
Interest expenses on additional lease liabilities | 82 | 76 | |
Payment of lease liabilites classified as financing activities | 86 | (446) | |
Net assets liabilities | (1,077) | (1,301) | |
Increase (decrease) due to application of IFRS 16 [member] | |||
Accounting policies [line items] | |||
Interest expenses on additional lease liabilities | 19 | 19 | |
Payment of lease liabilites classified as financing activities | (35) | (25) | |
Right of use assets | 513 | 486 | |
Net assets liabilities | (54) | $ (53) | |
Trade and other payables | 35 | ||
Prepayments | 3 | ||
UK Portfolio [member] | |||
Accounting policies [line items] | |||
Lease expenses per annum | $ 46 | ||
Remaining lease term | 24 years | ||
Impairment Charge | $ 32 | ||
Impairment on goodwill | 49 | ||
UK Portfolio [member] | Discount rate, measurement input [member] | One percentage point increase [member] | |||
Accounting policies [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets | 4 | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, liabilities | 1 | ||
UK Portfolio [member] | |||
Accounting policies [line items] | |||
Impairment Charge | 81 | ||
Fair value gains losses on contingent purchase consideration | 38 | ||
Net impact before tax resulting from the reassessment of the hotel cash flows | 43 | ||
Impairment on goodwill | 49 | ||
UK Portfolio [member] | Revenue per available room [Member] | One percentage point decrease [member] | |||
Accounting policies [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets | 23 | ||
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, liabilities | 3 | ||
Loyalty programme liability [member] | |||
Accounting policies [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, liabilities | 16 | ||
System Fund [member] | Loyalty programme liability [member] | |||
Accounting policies [line items] | |||
Deferred revenue | 1,233 | 1,181 | |
Management Contract [Member] | Kimpton Management Contract Portfolio [Member] | |||
Accounting policies [line items] | |||
Impairment Charge | $ 50 | ||
Management Contract [Member] | Kimpton Management Contract Portfolio [Member] | Projected management fees [member] | |||
Accounting policies [line items] | |||
Reduction in management fees percent | 10.00% | ||
IFRS 16 [member] | |||
Accounting policies [line items] | |||
Depreciation,right of use assets | 35 | ||
Decrease in operating lease rent expense | 51 | ||
Interest expenses on additional lease liabilities | 19 | ||
Payment of lease liabilites classified as financing activities | 43 | ||
IFRS 16 [member] | PropertyPlant And Equipment Subject To Finance Leases [Member] | |||
Accounting policies [line items] | |||
Right of use assets | 513 | ||
Lease liabilities | 670 | ||
IFRS 16 [member] | PropertyPlant And Equipment Subject To Finance Leases [Member] | Previously stated [member] | |||
Accounting policies [line items] | |||
Right of use assets | 174 | ||
Lease liabilities | $ 235 | ||
Management contracts [member] | Kimpton Management Contract Portfolio [Member] | One hotel attrition rate for 2020 [member] | |||
Accounting policies [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets | $ 3 | ||
Management contracts [member] | Kimpton Management Contract Portfolio [Member] | Discount rate, measurement input [member] | One percentage point increase [member] | |||
Accounting policies [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets | 7 | ||
Management contracts [member] | Kimpton Management Contract Portfolio [Member] | 10% reduction to Projected management fees [member] | Projected management fees [member] | |||
Accounting policies [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets | $ 9 | ||
Software [member] | |||
Accounting policies [line items] | |||
Amortisation method, intangible assets other than goodwill | straight-line | ||
Maximum [member] | Buildings [member] | |||
Accounting policies [line items] | |||
Estimated useful lives | 0 years | ||
Maximum [member] | Fixtures, fittings and equipment [member] | |||
Accounting policies [line items] | |||
Estimated useful lives | 0 years | ||
Maximum [member] | Software [member] | |||
Accounting policies [line items] | |||
Estimated useful lives | 5 years | ||
Minimum [member] | Fixtures, fittings and equipment [member] | |||
Accounting policies [line items] | |||
Estimated useful lives | 3 years | ||
Minimum [member] | Software [member] | |||
Accounting policies [line items] | |||
Estimated useful lives | 3 years |
Significant Accounting Polici_5
Significant Accounting Policies - Impact of IFRS 16 on Group Income Statement (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impact of initial application of new accounting standards [line item] | |||
Revenue from fee business | $ 1,510 | $ 1,486 | $ 1,379 |
Revenue from owned, leased and managed lease hotels | 573 | 447 | 351 |
System Fund revenues | 1,373 | 1,233 | 1,242 |
Reimbursement of costs | 1,171 | 1,171 | 1,103 |
Total revenue | 4,627 | 4,337 | 4,075 |
Cost of sales | (790) | (688) | (554) |
System Fund expenses | (1,422) | (1,379) | (1,276) |
Reimbursed costs | (1,171) | (1,171) | (1,103) |
Administrative expenses | (385) | (415) | (355) |
Share of (losses)/gains of associates and joint ventures | (3) | (1) | 3 |
Other operating income | 21 | 14 | 84 |
Depreciation and amortisation | (116) | (115) | (112) |
Impairment charges | (131) | (18) | |
Operating profit | 630 | 582 | 744 |
Financial income | 6 | 5 | 4 |
Financial expenses | (121) | (101) | (95) |
Fair value losses on contingent purchase consideration | 27 | (4) | |
Profit before tax | 542 | 482 | 653 |
Tax | (156) | (132) | (118) |
Profit for the year from continuing operations | $ 386 | 350 | 535 |
Previously reported [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Revenue from fee business | 1,486 | 1,379 | |
Revenue from owned, leased and managed lease hotels | 447 | 351 | |
System Fund revenues | 1,233 | 1,242 | |
Reimbursement of costs | 1,171 | 1,103 | |
Total revenue | 4,337 | 4,075 | |
Cost of sales | (706) | (571) | |
System Fund expenses | (1,379) | (1,276) | |
Reimbursed costs | (1,171) | (1,103) | |
Administrative expenses | (448) | (388) | |
Share of (losses)/gains of associates and joint ventures | (1) | 3 | |
Other operating income | 14 | 84 | |
Depreciation and amortisation | (80) | (78) | |
Impairment charges | (18) | ||
Operating profit | 566 | 728 | |
Financial income | 5 | 4 | |
Financial expenses | (82) | (76) | |
Fair value losses on contingent purchase consideration | (4) | ||
Profit before tax | 485 | 656 | |
Tax | (133) | (115) | |
Profit for the year from continuing operations | 352 | 541 | |
Increase (decrease) due to application of IFRS 16 [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Cost of sales | 18 | 17 | |
Administrative expenses | 33 | 33 | |
Depreciation and amortisation | (35) | (34) | |
Operating profit | 16 | 16 | |
Financial expenses | (19) | (19) | |
Profit before tax | (3) | (3) | |
Tax | 1 | (3) | |
Profit for the year from continuing operations | (2) | (6) | |
Restated [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Revenue from fee business | 1,486 | 1,379 | |
Revenue from owned, leased and managed lease hotels | 447 | 351 | |
System Fund revenues | 1,233 | 1,242 | |
Reimbursement of costs | 1,171 | 1,103 | |
Total revenue | 4,337 | 4,075 | |
Cost of sales | (688) | (554) | |
System Fund expenses | (1,379) | (1,276) | |
Reimbursed costs | (1,171) | (1,103) | |
Administrative expenses | (415) | (355) | |
Share of (losses)/gains of associates and joint ventures | (1) | 3 | |
Other operating income | 14 | 84 | |
Depreciation and amortisation | (115) | (112) | |
Impairment charges | (18) | ||
Operating profit | 582 | 744 | |
Financial income | 5 | 4 | |
Financial expenses | (101) | (95) | |
Fair value losses on contingent purchase consideration | (4) | ||
Profit before tax | 482 | 653 | |
Tax | (132) | (118) | |
Profit for the year from continuing operations | $ 350 | $ 535 |
Significant Accounting Polici_6
Significant Accounting Policies - Impact of IFRS 16 on Group Statement of Comprehensive Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | $ 386 | $ 350 | $ 535 |
Exchange gains/(losses) on retranslation of foreign operations, including related tax credit of $2m (2017: net of related tax credit of $1m) | (39) | 44 | (90) |
Total comprehensive income for the year | $ 349 | 384 | 398 |
Previously reported [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | 352 | 541 | |
Exchange gains/(losses) on retranslation of foreign operations, including related tax credit of $2m (2017: net of related tax credit of $1m) | 43 | (88) | |
Other items | (10) | (47) | |
Total comprehensive income for the year | 385 | 406 | |
Increase (decrease) due to application of IFRS 16 [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | (2) | (6) | |
Exchange gains/(losses) on retranslation of foreign operations, including related tax credit of $2m (2017: net of related tax credit of $1m) | 1 | (2) | |
Total comprehensive income for the year | (1) | (8) | |
Restated [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | 350 | 535 | |
Exchange gains/(losses) on retranslation of foreign operations, including related tax credit of $2m (2017: net of related tax credit of $1m) | 44 | (90) | |
Other items | (10) | (47) | |
Total comprehensive income for the year | $ 384 | $ 398 |
Significant Accounting Polici_7
Significant Accounting Policies - Impact of IFRS 16 on Group Statement of Comprehensive Income (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impact of initial application of new accounting standards [line item] | |||
Exchange losses on retranslation of foreign operations, tax | $ (3) | $ (2) | $ (1) |
IFRS 16 [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Exchange losses on retranslation of foreign operations, tax | $ 2 | $ 1 |
Significant Accounting Polici_8
Significant Accounting Policies - Impact of IFRS 16 on Group Statement of Financial Position (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of impact of initial application of new accounting standards [line item] | ||||
Property, plant and equipment | $ 309 | $ 273 | $ 250 | |
Right-of-use assets | 490 | 513 | 486 | |
Deferred tax assets | 66 | 63 | 78 | |
Total non-current assets | 3,041 | 2,719 | 2,461 | |
Total current assets | 916 | 1,373 | 861 | |
Total assets | 3,976 | 4,092 | 3,322 | |
Loans and other borrowings | (87) | (104) | (110) | |
Lease liabilities | (65) | (55) | (44) | |
Trade and other payables | (568) | (616) | (595) | |
Total current liabilities | (1,365) | (1,407) | (1,306) | |
Loans and other borrowings | (2,078) | (1,910) | (1,678) | |
Lease liabilities | (595) | (615) | (589) | |
Trade and other payables | (116) | (125) | (7) | |
Deferred tax liabilities | (118) | (124) | (95) | |
Total non-current liabilities | (4,054) | (3,816) | (3,370) | |
Total liabilities | (5,441) | (5,223) | (4,676) | |
Net liabilities | (1,465) | (1,131) | (1,354) | |
IHG shareholders' equity | (1,473) | (1,139) | (1,361) | |
Non-controlling interest | 8 | 8 | 7 | |
Total equity | $ (1,465) | (1,131) | (1,354) | $ (1,191) |
Previously reported [member] | ||||
Disclosure of impact of initial application of new accounting standards [line item] | ||||
Property, plant and equipment | 447 | 425 | ||
Deferred tax assets | 60 | 75 | ||
Other non-current assets | 1,870 | 1,647 | ||
Total non-current assets | 2,377 | 2,147 | ||
Trade and other receivables | 613 | 551 | ||
Other current assets | 763 | 312 | ||
Total current assets | 1,376 | 863 | ||
Total assets | 3,753 | 3,010 | ||
Loans and other borrowings | (120) | (126) | ||
Trade and other payables | (618) | (597) | ||
Other current liabilities | (632) | (557) | ||
Total current liabilities | (1,370) | (1,280) | ||
Loans and other borrowings | (2,129) | (1,893) | ||
Trade and other payables | (158) | (36) | ||
Deferred tax liabilities | (131) | (101) | ||
Other non-current liabilities | (1,042) | (1,001) | ||
Total non-current liabilities | (3,460) | (3,031) | ||
Total liabilities | (4,830) | (4,311) | ||
Net liabilities | (1,077) | (1,301) | ||
Currency translation reserve | 419 | 377 | ||
Retained earnings | 1,166 | 951 | ||
Other equity | (2,670) | (2,636) | ||
IHG shareholders' equity | (1,085) | (1,308) | ||
Non-controlling interest | 8 | 7 | ||
Total equity | (1,131) | (1,354) | $ (1,146) | |
Increase (decrease) due to application of IFRS 16 [member] | ||||
Disclosure of impact of initial application of new accounting standards [line item] | ||||
Property, plant and equipment | (174) | (175) | ||
Right-of-use assets | 513 | 486 | ||
Deferred tax assets | 3 | 3 | ||
Total non-current assets | 342 | 314 | ||
Trade and other receivables | (3) | (2) | ||
Total current assets | (3) | (2) | ||
Total assets | 339 | 312 | ||
Loans and other borrowings | 16 | 16 | ||
Lease liabilities | (55) | (44) | ||
Trade and other payables | 2 | 2 | ||
Total current liabilities | (37) | (26) | ||
Loans and other borrowings | 219 | 215 | ||
Lease liabilities | (615) | (589) | ||
Trade and other payables | 33 | 29 | ||
Deferred tax liabilities | 7 | 6 | ||
Total non-current liabilities | (356) | (339) | ||
Total liabilities | (393) | (365) | ||
Net liabilities | (54) | (53) | ||
Currency translation reserve | 1 | |||
Retained earnings | (55) | (53) | ||
IHG shareholders' equity | (54) | (53) | ||
Total equity | (54) | (53) | ||
Restated [member] | ||||
Disclosure of impact of initial application of new accounting standards [line item] | ||||
Property, plant and equipment | 273 | 250 | ||
Right-of-use assets | 513 | 486 | ||
Deferred tax assets | 63 | 78 | ||
Other non-current assets | 1,870 | 1,647 | ||
Total non-current assets | 2,719 | 2,461 | ||
Trade and other receivables | 610 | 549 | ||
Other current assets | 763 | 312 | ||
Total current assets | 1,373 | 861 | ||
Total assets | 4,092 | 3,322 | ||
Loans and other borrowings | (104) | (110) | ||
Lease liabilities | (55) | (44) | ||
Trade and other payables | (616) | (595) | ||
Other current liabilities | (632) | (557) | ||
Total current liabilities | (1,407) | (1,306) | ||
Loans and other borrowings | (1,910) | (1,678) | ||
Lease liabilities | (615) | (589) | ||
Trade and other payables | (125) | (7) | ||
Deferred tax liabilities | (124) | (95) | ||
Other non-current liabilities | (1,042) | (1,001) | ||
Total non-current liabilities | (3,816) | (3,370) | ||
Total liabilities | (5,223) | (4,676) | ||
Net liabilities | (1,131) | (1,354) | ||
Currency translation reserve | 420 | 377 | ||
Retained earnings | 1,111 | 898 | ||
Other equity | (2,670) | (2,636) | ||
IHG shareholders' equity | (1,139) | (1,361) | ||
Non-controlling interest | 8 | 7 | ||
Total equity | $ (1,131) | $ (1,354) |
Significant Accounting Polici_9
Significant Accounting Policies - Impact of IFRS 16 on Group Statement of Cash Flows (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | $ 386 | $ 350 | $ 535 |
Adjustments reconciling profit for the year to cash flow from operations before contract acquisition costs | 582 | 564 | 371 |
Cash flow from operations before contract acquisition costs | 968 | 914 | 906 |
Cash flow from operations | 907 | 860 | 849 |
Interest paid | (110) | (87) | (87) |
Interest received | 3 | 2 | 1 |
Tax paid on operating activities | (141) | (66) | (147) |
Net cash from operating activities | 653 | 709 | 616 |
Net cash from investing activities | (493) | (197) | (220) |
Principal element of lease payments | (59) | (35) | (25) |
Other cash flows from financing activities | 127 | (268) | 153 |
Net cash from financing activities | (660) | 51 | (471) |
Net movement in cash and cash equivalents in the year | (500) | 563 | (75) |
Cash and cash equivalents at beginning of the year | 600 | 58 | 117 |
Exchange rate effects | 8 | (21) | 16 |
Cash and cash equivalents at end of the year | 108 | 600 | 58 |
Previously reported [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | 352 | 541 | |
Adjustments reconciling profit for the year to cash flow from operations before contract acquisition costs | 502 | 308 | |
Cash flow from operations before contract acquisition costs | 854 | 849 | |
Contract acquisition costs, net of repayments | (54) | (57) | |
Cash flow from operations | 800 | 792 | |
Interest paid | (70) | (69) | |
Interest received | 2 | 1 | |
Tax paid on operating activities | (66) | (147) | |
Net cash from operating activities | 666 | 577 | |
Landlord contribution to property, plant and equipment | 8 | 14 | |
Other cash flows from investing activities | (197) | (220) | |
Net cash from investing activities | (189) | (206) | |
Other cash flows from financing activities | 86 | (446) | |
Net cash from financing activities | 86 | (446) | |
Net movement in cash and cash equivalents in the year | 563 | (75) | |
Cash and cash equivalents at beginning of the year | 600 | 58 | 117 |
Exchange rate effects | (21) | 16 | |
Cash and cash equivalents at end of the year | 600 | 58 | |
Increase (decrease) due to application of IFRS 16 [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | (2) | (6) | |
Adjustments reconciling profit for the year to cash flow from operations before contract acquisition costs | 62 | 63 | |
Cash flow from operations before contract acquisition costs | 60 | 57 | |
Cash flow from operations | 60 | 57 | |
Interest paid | (17) | (18) | |
Net cash from operating activities | 43 | 39 | |
Landlord contribution to property, plant and equipment | (8) | (14) | |
Net cash from investing activities | (8) | (14) | |
Principal element of lease payments | (35) | (25) | |
Net cash from financing activities | (35) | (25) | |
Restated [member] | |||
Disclosure of impact of initial application of new accounting standards [line item] | |||
Profit for the year | 350 | 535 | |
Adjustments reconciling profit for the year to cash flow from operations before contract acquisition costs | 564 | 371 | |
Cash flow from operations before contract acquisition costs | 914 | 906 | |
Contract acquisition costs, net of repayments | (54) | (57) | |
Cash flow from operations | 860 | 849 | |
Interest paid | (87) | (87) | |
Interest received | 2 | 1 | |
Tax paid on operating activities | (66) | (147) | |
Net cash from operating activities | 709 | 616 | |
Other cash flows from investing activities | (197) | (220) | |
Net cash from investing activities | (197) | (220) | |
Principal element of lease payments | (35) | (25) | |
Other cash flows from financing activities | 86 | (446) | |
Net cash from financing activities | 51 | (471) | |
Net movement in cash and cash equivalents in the year | 563 | (75) | |
Cash and cash equivalents at beginning of the year | $ 600 | 58 | 117 |
Exchange rate effects | (21) | 16 | |
Cash and cash equivalents at end of the year | $ 600 | $ 58 |
Significant Accounting Polic_10
Significant Accounting Policies - Impact of IFRS 16 on Basic and Diluted Earnings per Ordinary Share (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||
Basic earnings per ordinary share | $ 2.104 | $ 1.837 | $ 2.767 |
Diluted earnings per ordinary share | $ 2.092 | 1.818 | 2.753 |
Previously reported [member] | |||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||
Basic earnings per ordinary share | 1.847 | 2.798 | |
Diluted earnings per ordinary share | 1.828 | 2.784 | |
Increase (decrease) due to application of IFRS 16 [member] | |||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||
Basic earnings per ordinary share | (0.010) | (0.031) | |
Diluted earnings per ordinary share | (0.010) | (0.031) | |
Restated [member] | |||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||
Basic earnings per ordinary share | 1.837 | 2.767 | |
Diluted earnings per ordinary share | $ 1.818 | $ 2.753 |
Exchange Rates - Additional Inf
Exchange Rates - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Sterling [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Average rates of exchange for the year | 0.78 | 0.75 | 0.78 |
Rates of exchange on the last day of the year | 0.76 | 0.78 | 0.74 |
Euro [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Average rates of exchange for the year | 0.89 | 0.85 | 0.89 |
Rates of exchange on the last day of the year | 0.89 | 0.87 | 0.83 |
Segmental Information - Additio
Segmental Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2019Segment | |
Disclosure of reportable segments [line items] | |
Number of reportable segments | 4 |
Geographic concentration risk2 [member] | Revenue [member] | |
Disclosure of reportable segments [line items] | |
Concentration risk benchmark | revenue relating to an individual country is separately disclosed when it represents 10% or more of total revenue |
Concentration risk percentage | 10.00% |
Geographic concentration risk2 [member] | Non-current Assets [member] | |
Disclosure of reportable segments [line items] | |
Concentration risk benchmark | Non-current assets relating to an individual country are separately disclosed when they represent 10% or more of total non-current assets |
Concentration risk percentage | 10.00% |
Segmental Information - Summary
Segmental Information - Summary of Information by Reportable Segment - Result (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reportable segments [line items] | |||
System Fund revenues | $ 1,373 | $ 1,233 | $ 1,242 |
Reimbursement of costs | 1,171 | 1,171 | 1,103 |
Revenue | 4,627 | 4,337 | 4,075 |
Operating profit | 630 | 582 | 744 |
Net finance costs | (115) | (96) | (91) |
Fair value gains/(losses) on contingent purchase consideration | 27 | (4) | |
Profit before tax | 542 | 482 | 653 |
Tax | (156) | (132) | (118) |
Profit for the year | 386 | 350 | 535 |
Exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | (186) | (104) | 4 |
Fair value gains/(losses) on contingent purchase consideration | 38 | ||
Profit before tax | (186) | (104) | 4 |
Tax | 20 | 27 | 85 |
Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Revenue | 2,083 | 1,933 | 1,730 |
Reportable segments [member] | Before exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | 865 | 832 | 774 |
System Fund [member] | Before exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | (49) | (146) | (34) |
Americas [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Revenue | 1,040 | 1,051 | 999 |
Americas [member] | Reportable segments [member] | Before exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | 700 | 673 | 648 |
EMEAA [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Revenue | 723 | 569 | 457 |
EMEAA [member] | Reportable segments [member] | Before exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | 217 | 206 | 175 |
Greater China [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Revenue | 135 | 143 | 117 |
Greater China [member] | Reportable segments [member] | Before exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | 73 | 70 | 53 |
Central [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Revenue | 185 | 170 | 157 |
Central [member] | Reportable segments [member] | Before exceptional items [member] | |||
Disclosure of reportable segments [line items] | |||
Operating profit | $ (125) | $ (117) | $ (102) |
Segmental Information - Summa_2
Segmental Information - Summary of Information by Reportable Segment - Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of reportable segments [line items] | |||
Derivative financial instruments | $ 1 | $ 8 | |
Tax receivable | 44 | 58 | |
Deferred tax assets | 66 | 63 | $ 78 |
Cash and cash equivalents | 195 | 704 | 168 |
Assets | 3,976 | 4,092 | 3,322 |
Loyalty and co-brand deferred revenue and other payables | (1,339) | (1,291) | |
Loans and other borrowings | (2,165) | (2,014) | |
Derivative financial liabilities | (20) | ||
Tax payable | (50) | (50) | |
Deferred tax liabilities | (118) | (124) | (95) |
Deferred and contingent purchase consideration | (94) | (77) | |
Liabilities | (5,441) | (5,223) | $ (4,676) |
Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Assets | 3,670 | 3,259 | |
Liabilities | (1,655) | (1,667) | |
Americas [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Assets | 1,784 | 1,656 | |
Liabilities | (971) | (995) | |
Greater China [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Assets | 136 | 110 | |
Liabilities | (80) | (61) | |
Central [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Assets | 772 | 755 | |
Liabilities | (206) | (225) | |
EMEAA [member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Assets | 978 | 738 | |
Liabilities | $ (398) | $ (386) |
Segmental Information - Summa_3
Segmental Information - Summary of Information by Reportable Segment - Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of operating segments [line items] | ||
Assets held for sale | $ 19 | |
Liabilitites classified as held for sale | 22 | |
EMEAA [member] | ||
Disclosure of operating segments [line items] | ||
Assets held for sale | 19 | $ 0 |
Liabilitites classified as held for sale | $ 22 | $ 0 |
Segmental Information - Summa_4
Segmental Information - Summary of Information by Reportable Segment - Other Segmental Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reportable segments [line items] | |||
Capital expenditure | $ 265 | $ 251 | $ 350 |
Depreciation and amortisation | 116 | 115 | 112 |
Share-based payments cost | 28 | 27 | 21 |
Share of losses/(gains) of associates and joint ventures | 3 | 1 | (3) |
Impairment charge | 131 | 18 | |
Americas [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure | 57 | 74 | 120 |
Depreciation and amortisation | 44 | 46 | 42 |
Share-based payments cost | 9 | 8 | 6 |
Share of losses/(gains) of associates and joint ventures | 9 | 6 | 1 |
Impairment charge | 50 | 18 | |
EMEAA [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure | 71 | 33 | 26 |
Depreciation and amortisation | 25 | 17 | 15 |
Share-based payments cost | 4 | 4 | 4 |
Share of losses/(gains) of associates and joint ventures | (6) | (5) | (4) |
Impairment charge | 81 | ||
Greater China [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure | 2 | 2 | |
Depreciation and amortisation | 5 | 7 | 5 |
Share-based payments cost | 2 | 3 | 3 |
Central [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure | 137 | 142 | 202 |
Depreciation and amortisation | 42 | 45 | 50 |
Share-based payments cost | $ 13 | $ 12 | $ 8 |
Segmental Information - Summa_5
Segmental Information - Summary of Information by Reportable Segment - Other Segmental Information (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reportable segments [line items] | |||
Depreciation and amortisation | $ 116 | $ 115 | $ 112 |
Americas Region [Member] | Reportable segments [member] | |||
Disclosure of reportable segments [line items] | |||
Proceeds from business interruption | 10 | ||
Administrative expenses [member] | |||
Disclosure of reportable segments [line items] | |||
Depreciation and amortisation | 82 | 86 | 78 |
Cost of sales [member] | |||
Disclosure of reportable segments [line items] | |||
Depreciation and amortisation | 34 | 29 | 34 |
System Fund [member] | |||
Disclosure of reportable segments [line items] | |||
Depreciation and amortisation | $ 54 | $ 49 | $ 41 |
Segmental Information - Summa_6
Segmental Information - Summary of Information by Reportable Segment - Reconciliation of Capital Expenditure (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reportable segments [line items] | |||
Capital expenditure per management reporting | $ 265 | $ 251 | $ 350 |
Contract acquisition costs | (64) | (58) | |
Right-of-use assets | (62) | ||
Timing differences and other adjustments | 1 | 1 | |
Additions per the Financial Statements | 208 | 194 | |
Comprising additions to: | |||
Property, plant and equipment | 108 | 112 | |
Intangible assets | 77 | 47 | |
Investment in associates and joint ventures | 14 | 3 | |
Other financial assets | 9 | 32 | |
Additions per the Group Financial Statements | 208 | 194 | |
Americas [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure per management reporting | 57 | 74 | 120 |
Contract acquisition costs | (32) | ||
Right-of-use assets | (27) | ||
Timing differences and other adjustments | 4 | 1 | |
Additions per the Financial Statements | 34 | 43 | |
Comprising additions to: | |||
Intangible assets | 19 | 13 | |
Investment in associates and joint ventures | 14 | 3 | |
Other financial assets | 1 | 27 | |
Additions per the Group Financial Statements | 34 | 43 | |
EMEAA [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure per management reporting | 71 | 33 | 26 |
Contract acquisition costs | 4 | (26) | |
Right-of-use assets | (35) | ||
Timing differences and other adjustments | 1 | ||
Additions per the Financial Statements | 41 | 7 | |
Comprising additions to: | |||
Property, plant and equipment | 4 | ||
Intangible assets | 29 | 2 | |
Other financial assets | 8 | 5 | |
Additions per the Group Financial Statements | 41 | 7 | |
Greater China [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure per management reporting | 2 | 2 | |
Additions per the Financial Statements | 2 | ||
Comprising additions to: | |||
Intangible assets | 2 | ||
Additions per the Group Financial Statements | 2 | ||
Central [member] | |||
Disclosure of reportable segments [line items] | |||
Capital expenditure per management reporting | 137 | 142 | $ 202 |
Timing differences and other adjustments | (4) | ||
Additions per the Financial Statements | 133 | 142 | |
Comprising additions to: | |||
Property, plant and equipment | 104 | 112 | |
Intangible assets | 29 | 30 | |
Additions per the Group Financial Statements | $ 133 | $ 142 |
Segmental Information - Summa_7
Segmental Information - Summary of Geographical Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of geographical areas [line items] | |||
System Fund | $ 1,373 | $ 1,233 | $ 1,242 |
Revenue | 4,627 | 4,337 | 4,075 |
Non-current assets | 2,663 | 2,358 | |
Before system funds [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 3,254 | 3,104 | 2,833 |
United Kingdom [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 265 | 151 | 74 |
Non-current assets | 184 | 205 | |
United States [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 1,957 | 1,950 | 1,845 |
Non-current assets | 1,632 | 1,643 | |
China [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 214 | 222 | 201 |
Rest of world [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 818 | 781 | $ 713 |
Non-current assets | $ 847 | $ 510 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Maximum payout remaining guarantees | $ 85 | $ 42 |
Performance Guarantees [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Performance guarantees included within trade and other payables | $ 2 | $ 3 |
Revenue - Summary of Group Reve
Revenue - Summary of Group Revenue Disaggregated By Type of Revenue Stream and By Reportable Segment (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Franchise and base management fees | $ 1,174 | $ 1,156 | $ 1,072 |
Incentive management fees | 151 | 160 | 150 |
Central revenue | 185 | 170 | 157 |
Revenue from fee business | 1,510 | 1,486 | 1,379 |
Revenue from owned, leased and managed lease hotels | 573 | 447 | 351 |
System Fund revenues | 1,373 | 1,233 | 1,242 |
Reimbursement of costs | 1,171 | 1,171 | 1,103 |
Total revenue | 4,627 | 4,337 | 4,075 |
Reportable segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 2,083 | 1,933 | 1,730 |
Americas [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Franchise and base management fees | 840 | 835 | 795 |
Incentive management fees | 13 | 18 | 16 |
Revenue from fee business | 853 | 853 | 811 |
Revenue from owned, leased and managed lease hotels | 187 | 198 | 188 |
Americas [member] | Reportable segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 1,040 | 1,051 | 999 |
EMEAA [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Franchise and base management fees | 247 | 227 | 204 |
Incentive management fees | 90 | 93 | 90 |
Revenue from fee business | 337 | 320 | 294 |
Revenue from owned, leased and managed lease hotels | 386 | 249 | 163 |
EMEAA [member] | Reportable segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 723 | 569 | 457 |
Greater China [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Franchise and base management fees | 87 | 94 | 73 |
Incentive management fees | 48 | 49 | 44 |
Revenue from fee business | 135 | 143 | 117 |
Greater China [member] | Reportable segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 135 | 143 | 117 |
Central [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Central revenue | 185 | 170 | 157 |
Revenue from fee business | 185 | 170 | 157 |
Central [member] | Reportable segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | $ 185 | $ 170 | $ 157 |
Revenue - Summary of Informatio
Revenue - Summary of Information About Trade Receivables, Contract Assets, and Deferred Revenue (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Receivables from contracts with customers [abstract] | |||
Trade receivables | $ 514 | $ 474 | |
Contract assets | 334 | 290 | $ 258 |
Deferred revenue | $ (1,564) | $ (1,506) | $ (1,357) |
Revenue - Summary of Informat_2
Revenue - Summary of Information About Contract Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Contract assets [abstract] | |||
Contract assets, Beginning balance | $ 290 | $ 258 | |
Costs paid | 64 | 58 | |
Recognised as a deduction to revenue | (22) | (19) | |
Repayments | (1) | (2) | |
Exchange and other adjustments | 3 | (5) | |
Contract assets, Ending balance | 334 | 290 | |
Current | 23 | 20 | $ 17 |
Non-current | $ 311 | $ 270 | $ 241 |
Revenue - Summary of Changes in
Revenue - Summary of Changes in Deferred Revenue (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of changes in contact liabilities [line items] | |||||
Deferred revenue beginning balance | $ 1,506 | $ 1,357 | |||
Acquisition of businesses | 2 | 8 | |||
Increase in deferred revenue | 623 | 643 | |||
Recognised as revenue | (566) | (497) | |||
Exchange and other adjustments | (1) | (5) | |||
Deferred revenue ending balance | 1,564 | 1,506 | |||
Current | $ 555 | $ 572 | $ 490 | ||
Non-current | 1,009 | 934 | 867 | ||
Deferred revenue | 1,506 | 1,357 | 1,564 | 1,506 | 1,357 |
Loyalty programme [member] | |||||
Disclosure of changes in contact liabilities [line items] | |||||
Deferred revenue beginning balance | 1,181 | 1,057 | |||
Increase in deferred revenue | 533 | 540 | |||
Recognised as revenue | (481) | (416) | |||
Deferred revenue ending balance | 1,233 | 1,181 | |||
Current | 476 | 491 | |||
Non-current | 757 | 690 | |||
Deferred revenue | 1,233 | 1,181 | 1,233 | 1,181 | 1,057 |
Other co-brand fees [member] | |||||
Disclosure of changes in contact liabilities [line items] | |||||
Deferred revenue beginning balance | 77 | 88 | |||
Recognised as revenue | (11) | (11) | |||
Deferred revenue ending balance | 66 | 77 | |||
Current | 11 | 11 | |||
Non-current | 55 | 66 | |||
Deferred revenue | 66 | 77 | 66 | 77 | 88 |
Application & re-licensing fees [member] | |||||
Disclosure of changes in contact liabilities [line items] | |||||
Deferred revenue beginning balance | 175 | 163 | |||
Increase in deferred revenue | 26 | 36 | |||
Recognised as revenue | (25) | (23) | |||
Exchange and other adjustments | (4) | (1) | |||
Deferred revenue ending balance | 172 | 175 | |||
Current | 25 | 23 | |||
Non-current | 147 | 152 | |||
Deferred revenue | 172 | 175 | 172 | 175 | 163 |
Other [member] | |||||
Disclosure of changes in contact liabilities [line items] | |||||
Deferred revenue beginning balance | 73 | 49 | |||
Acquisition of businesses | 2 | 8 | |||
Increase in deferred revenue | 64 | 67 | |||
Recognised as revenue | (49) | (47) | |||
Exchange and other adjustments | 3 | (4) | |||
Deferred revenue ending balance | 93 | 73 | |||
Current | 43 | 47 | |||
Non-current | 50 | 26 | |||
Deferred revenue | $ 93 | $ 73 | $ 93 | $ 73 | $ 49 |
Revenue - Amounts Received and
Revenue - Amounts Received and Not Yet Recognized Related to Performance Obligations (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | $ 1,564 | $ 1,506 |
Due within one year [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 555 | 572 |
Between 1 and 2 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 326 | 288 |
Between 2 and 3 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 206 | 184 |
Between 3 and 4 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 142 | 128 |
Between 4 and 5 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 106 | 95 |
More than 5 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 229 | 239 |
Loyalty and co-brand [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 1,299 | 1,258 |
Loyalty and co-brand [member] | Due within one year [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 487 | 502 |
Loyalty and co-brand [member] | Between 1 and 2 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 292 | 257 |
Loyalty and co-brand [member] | Between 2 and 3 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 176 | 158 |
Loyalty and co-brand [member] | Between 3 and 4 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 115 | 106 |
Loyalty and co-brand [member] | Between 4 and 5 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 79 | 75 |
Loyalty and co-brand [member] | More than 5 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 150 | 160 |
Other [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 265 | 248 |
Other [member] | Due within one year [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 68 | 70 |
Other [member] | Between 1 and 2 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 34 | 31 |
Other [member] | Between 2 and 3 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 30 | 26 |
Other [member] | Between 3 and 4 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 27 | 22 |
Other [member] | Between 4 and 5 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | 27 | 20 |
Other [member] | More than 5 years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | $ 79 | $ 79 |
Revenue - Movements in Contract
Revenue - Movements in Contract Costs, Typically Developer Commissions (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [abstract] | |||||
Contract costs beginning balance | $ 60 | $ 58 | |||
Costs incurred | 19 | 9 | |||
Amortisation | (7) | (7) | |||
Contract costs ending balance | 72 | 60 | |||
Contract costs disclosed as: | |||||
Current | $ 5 | $ 5 | $ 7 | ||
Non-current | 67 | 55 | 51 | ||
Total contract costs | $ 60 | $ 58 | $ 72 | $ 60 | $ 58 |
Staff Costs and Directors' Em_3
Staff Costs and Directors' Emoluments - Summary of Staff Costs (Detail) - Costs by employer [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension and other post-retirement benefits: | |||
Total staff costs | $ 2,180 | $ 2,165 | $ 2,040 |
Costs borne by IHG [member] | |||
Costs | |||
Wages and salaries | 1,982 | 1,956 | 1,868 |
Social security costs | 131 | 127 | 106 |
Pension and other post-retirement benefits: | |||
Defined benefit plans (note 27) | 3 | 19 | 5 |
Defined contribution plans | 64 | 63 | 61 |
Total staff costs | 735 | 708 | 645 |
Costs are borne by the System Fund [member] | |||
Pension and other post-retirement benefits: | |||
Total staff costs | 313 | 347 | 339 |
Costs are reimbursed [member] | |||
Pension and other post-retirement benefits: | |||
Total staff costs | $ 1,132 | $ 1,110 | $ 1,056 |
Staff Costs and Directors' Em_4
Staff Costs and Directors' Emoluments - Summary of Average Number of Employees (Detail) - Costs by employer [member] - Employee | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 36,643 | 35,330 | 34,790 |
Costs borne by IHG [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 9,636 | 7,598 | 6,658 |
Costs are borne by the System Fund [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 4,800 | 5,214 | 5,555 |
Costs are reimbursed [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 22,207 | 22,518 | 22,577 |
Americas [member] | Costs borne by IHG [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 2,170 | 2,225 | 2,149 |
EMEAA [member] | Costs borne by IHG [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 5,227 | 3,255 | 2,267 |
Greater China [member] | Costs borne by IHG [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 339 | 324 | 294 |
Central [member] | Costs borne by IHG [member] | |||
Disclosure of average number of employees [line items] | |||
Average number of employees, including part-time employees | 1,900 | 1,794 | 1,948 |
Staff Costs and Directors' Em_5
Staff Costs and Directors' Emoluments - Summary of Staff Costs (Parenthetical) (Detail) - Exceptional items [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of information about employees and directors [Line Items] | |||
Exceptional items | $ 9 | $ 21 | $ 13 |
Settlement loss including transaction costs | 15 | ||
System Fund [member] | |||
Disclosure of information about employees and directors [Line Items] | |||
Exceptional items | $ 8 | $ 21 | $ 9 |
Staff Costs and Directors' Em_6
Staff Costs and Directors' Emoluments - Summary of Director's Emoluments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Director [member] | |||
Disclosure of Directors Emoluments [Line Items] | |||
Base salaries, fees, performance payments and benefits | $ 6.4 | $ 7.1 | $ 4.9 |
Auditor's Remuneration Paid t_3
Auditor's Remuneration Paid to Ernst & Young LLP - Summary of Auditor's Remuneration Paid (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Auditor's remuneration [abstract] | |||
Audit of the Financial Statements | $ 3 | $ 3.3 | $ 3 |
Audit of subsidiaries | 3.2 | 2.9 | 2.2 |
Audit-related assurance services | 0.2 | 0.2 | 0.2 |
Other assurance services | 1.3 | 1.3 | 1 |
Tax compliance | 0 | 0.1 | |
Other non-audit services not covered by the above | 0.1 | 0.1 | 0.2 |
Total expense related to remuneration | $ 7.8 | $ 7.8 | $ 6.7 |
Auditor's Remuneration Paid t_4
Auditor's Remuneration Paid to Ernst & Young LLP - Summary of Auditor's Remuneration Paid (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Auditor's remuneration [abstract] | |||
Audit fees for specific procedures performed in relation to the implementation of new accounting standards | $ 0 | $ 0.4 | $ 0.5 |
Exceptional Items - Summary of
Exceptional Items - Summary of Exceptional Items (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Administrative expenses: | |||
Administrative expenses | $ (385) | $ (415) | $ (355) |
Other operating income and expenses: | |||
Other operating income and expenses | 21 | 14 | 84 |
Impairment charges | |||
Impairment charges | (131) | (18) | |
Profit before tax | 542 | 482 | 653 |
Tax on exceptional items | 20 | 27 | 85 |
Tax | (156) | (132) | (118) |
Exceptional items before tax analysed as: | |||
Exceptional items before tax | (148) | (104) | 4 |
Fair value losses on contingent purchase consideration | 27 | (4) | |
Americas [member] | |||
Impairment charges | |||
Impairment charges | (50) | (18) | |
EMEAA [member] | |||
Impairment charges | |||
Impairment charges | (81) | ||
Exceptional items [member] | |||
Administrative expenses: | |||
Acquisition and integration costs | (7) | (15) | (15) |
Litigation | (28) | (18) | |
Reorganisation costs | (20) | (56) | (36) |
Pension settlement cost | (15) | ||
Administrative expenses | (55) | (104) | (51) |
Other operating income and expenses: | |||
Gain on disposal of equity securities measured at fair value | 73 | ||
Other operating income and expenses | 73 | ||
Impairment charges | |||
Impairment charges | (131) | (18) | |
Profit before tax | (186) | (104) | 4 |
Goodwill (note [13]) | (49) | ||
Tax on exceptional items | 20 | 22 | (2) |
Exceptional tax | 5 | 87 | |
Tax | 20 | 27 | 85 |
Exceptional items before tax analysed as: | |||
Exceptional items before tax | (148) | (104) | 4 |
Operating exceptional profit befor tax | (186) | (104) | 4 |
Fair value losses on contingent purchase consideration | 38 | ||
Exceptional items [member] | Right-of-use assets [member] | |||
Impairment charges | |||
Impairment | (32) | ||
Exceptional items [member] | Management agreements [member] | |||
Impairment charges | |||
Management agreements | (50) | ||
Exceptional items [member] | Associates [member] | |||
Impairment charges | |||
Impairment | (18) | ||
Exceptional items [member] | Americas [member] | |||
Exceptional items before tax analysed as: | |||
Operating exceptional profit befor tax | (62) | (36) | 37 |
Exceptional items [member] | EMEAA [member] | |||
Exceptional items before tax analysed as: | |||
Operating exceptional profit befor tax | (109) | (12) | (4) |
Exceptional items [member] | Greater China [member] | |||
Exceptional items before tax analysed as: | |||
Operating exceptional profit befor tax | (1) | ||
Exceptional items [member] | Central [member] | |||
Exceptional items before tax analysed as: | |||
Operating exceptional profit befor tax | $ (15) | $ (55) | $ (29) |
Exceptional Items - Additional
Exceptional Items - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Exceptional items [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Reorganisation costs | $ 20 | $ 56 | $ 36 |
Tax on exceptional items [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Current tax credit/(charge) relating to reorganisation cost | 4 | 11 | 13 |
Deferred tax credit/(charge) relating to litigation costs | 6 | 5 | |
Current tax credit in respect of acquisition costs | 2 | ||
Current tax charge on the sale of a minority investment | (2) | (28) | |
Deferred tax credit relating to associate investment impairment | 7 | ||
Deferred tax credit relating to integration costs | 6 | ||
Deferred tax credit charge impairment right of use asset and fair value gan loss contingent purchase consideration | (1) | ||
Deferred tax credit charge impairment of management agreement | 13 | ||
Deferred tax charge relating to 2014 disposal | (2) | ||
Exceptional tax [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Current tax charge (Credit) | 5 | (32) | |
Deferred tax | 109 | ||
Deferred tax credit on unremitted earnings provision | 10 | ||
Pension scheme settlement [member] | Tax on exceptional items [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Tax credit relating to pension scheme settlement | 6 | ||
Current tax charge relating to pension scheme settlement | 5 | ||
Deferred tax credit relating to pension scheme settlement | 1 | ||
Consultancy expense [member] | Exceptional items [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Reorganisation costs | 6 | 25 | 24 |
Severance Costs [member] | Exceptional items [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Reorganisation costs | 8 | 18 | 8 |
System Fund [member] | Exceptional items [member] | |||
Disclosure Of Exceptional Items [line items] | |||
Reorganisation costs | $ 28 | $ 47 | $ 9 |
Finance Costs - Summary of Fina
Finance Costs - Summary of Financial Income and Expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Detailed Finance Cost [abstract] | |||
Financial income on deposits and money market funds | $ 3 | $ 2 | $ 1 |
Interest income on loans and other assets | 3 | 3 | 3 |
Financial income | 6 | 5 | 4 |
Interest expense on bonds and syndicated facility | 78 | 61 | 58 |
Interest expense on lease liabilities | 41 | 39 | 39 |
Capitalised interest | (5) | (5) | (6) |
Unwind of discount on deferred purchase consideration | 1 | 1 | |
Other charges | 6 | 5 | 4 |
Financial expenses | $ 121 | $ 101 | $ 95 |
Finance Costs - Additional Info
Finance Costs - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Detailed Finance (Income) Costs Explanatory [line items] | |||
Rate used for capitalisation of interest | 3.10% | 3.00% | 3.00% |
IHG Rewards club loyalty programme [member] | |||
Disclosure Of Detailed Finance (Income) Costs Explanatory [line items] | |||
Interest payable to IHG rewards club | $ 13 | $ 14 | $ 7 |
Tax - Summary of Tax on Profit
Tax - Summary of Tax on Profit (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax [line items] | |||
Total current tax | $ 159 | $ 95 | $ 207 |
Origination and reversal of temporary differences | 11 | 39 | (8) |
Changes in tax rates and tax laws | 2 | 1 | (56) |
Adjustments to estimated recoverable deferred tax assets | (2) | (2) | (9) |
Adjustments in respect of prior periods | (14) | (1) | (16) |
Total deferred tax | (3) | 37 | (89) |
Total income tax charge for the year | 156 | 132 | 118 |
Profit before exceptional items | 176 | 159 | 203 |
Tax on exceptional items (note [6]) | (20) | (27) | (85) |
Exceptional items [member] | |||
Income tax [line items] | |||
Total income tax charge for the year | (20) | (27) | (85) |
Tax on exceptional items (note [6]) | (20) | (22) | 2 |
Exceptional tax (note [6]) | (5) | (87) | |
United Kingdom [member] | |||
Income tax [line items] | |||
Current period | 5 | 10 | 10 |
Adjustments in respect of prior periods | 13 | 4 | (2) |
Total current tax | 18 | 14 | 8 |
Foreign tax [member] | |||
Income tax [line items] | |||
Current period | 154 | 95 | 210 |
Benefit of tax reliefs on which no deferred tax previously recognised | (2) | (1) | (13) |
Adjustments in respect of prior periods | (11) | (13) | 2 |
Total current tax | $ 141 | $ 81 | $ 199 |
Tax - Summary of Tax on Profi_2
Tax - Summary of Tax on Profit (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax [line items] | |||
Corporate income tax rate | 19.00% | 19.00% | 19.25% |
Total income tax charge for the year | $ 156 | $ 132 | $ 118 |
Before exceptional items [member] | United States [member] | |||
Income tax [line items] | |||
Total income tax charge for the year | $ 113 | $ 93 | $ 157 |
Tax - Summary of Reconciliation
Tax - Summary of Reconciliation of Tax Charge (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of income tax reconciliation [line items] | |||
Corporate income tax rate | 19.00% | 19.00% | 19.25% |
Tax credits | (0.80%) | (0.50%) | (0.50%) |
System Fund | 1.10% | 5.00% | 0.90% |
Impairment charges | 1.70% | ||
Other permanent differences | 1.30% | 0.60% | 0.80% |
Non-recoverable foreign taxes | 3.20% | 0.70% | 0.30% |
Net effect of different rates of tax in overseas businesses | 6.70% | 4.60% | 14.60% |
Effects of changes in tax rates resulting from significant US tax reform | (8.70%) | ||
Release of provision for taxation on unremitted earnings following significant US tax reform | (7.80%) | ||
Transition tax liability arising from significant US tax reform | 4.80% | ||
Effect of other changes in tax rates and tax laws | (0.40%) | 0.30% | 0.30% |
Benefit of tax reliefs on which no deferred tax previously recognised | (0.40%) | (0.40%) | (1.90%) |
Effect of adjustments to estimated recoverable deferred tax assets | (0.40%) | 0.10% | (1.40%) |
Adjustment to tax charge in respect of prior periods | (2.20%) | (2.00%) | (2.60%) |
Average effective tax rate | 28.80% | 27.40% | 18.10% |
Before exceptional items and System Funds [member] | |||
Disclosure of income tax reconciliation [line items] | |||
Corporate income tax rate | 19.00% | 19.00% | 19.30% |
Tax credits | (0.60%) | (0.30%) | (0.50%) |
System Fund | (0.50%) | (0.50%) | (0.40%) |
Other permanent differences | 0.80% | 0.30% | 0.60% |
Non-recoverable foreign taxes | 2.40% | 0.50% | 0.30% |
Net effect of different rates of tax in overseas businesses | 5.50% | 3.70% | 13.90% |
Effect of other changes in tax rates and tax laws | (0.30%) | 0.20% | 0.30% |
Benefit of tax reliefs on which no deferred tax previously recognised | (0.30%) | (0.30%) | (1.80%) |
Effect of adjustments to estimated recoverable deferred tax assets | (0.30%) | 0.10% | (1.30%) |
Adjustment to tax charge in respect of prior periods | (1.90%) | (1.00%) | (1.10%) |
Average effective tax rate | 23.80% | 21.70% | 29.30% |
Tax - Summary of Reconciliati_2
Tax - Summary of Reconciliation of Tax Charge (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of income tax reconciliation [line items] | |||
Net effect of different rates of tax in overseas businesses | 6.70% | 4.60% | 14.60% |
Before exceptional items and System Funds [member] | |||
Disclosure of income tax reconciliation [line items] | |||
Net effect of different rates of tax in overseas businesses | 5.50% | 3.70% | 13.90% |
Before exceptional items and System Funds [member] | Maximum [member] | |||
Disclosure of income tax reconciliation [line items] | |||
Increase in irrecoverable tax | 1.80% | ||
Before exceptional items and System Funds [member] | United States [member] | |||
Disclosure of income tax reconciliation [line items] | |||
Net effect of different rates of tax in overseas businesses | 4.90% | 4.20% | 13.30% |
Tax - Summary of Unrecognized D
Tax - Summary of Unrecognized Deferred Tax Based on Expiry Date (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Unrecognised deferred tax position [line items] | ||
Unrecognised deferred tax | $ 181 | $ 171 |
2020 [Member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 2 | |
2021 [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 31 | 28 |
Unrecognised deferred tax | 6 | 6 |
2022 [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 10 | 10 |
Unrecognised deferred tax | 2 | 2 |
2023 [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 2 | 1 |
2024 [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 4 | 4 |
Unrecognised deferred tax | 1 | |
2025 [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 91 | 92 |
Unrecognised deferred tax | 20 | 21 |
After 2025 [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 24 | 46 |
Unrecognised deferred tax | $ 17 | $ 3 |
Tax - Reconciliation Between To
Tax - Reconciliation Between Total Tax Rate and Tax Rate Before Exceptional Items and System Fund (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation between tax rate and tax rate before exceptional items and System Fund [abstract] | |||
Group income statement | $ 542 | $ 482 | $ 653 |
Exceptional items (note 6) | 148 | 104 | (4) |
System Fund | 49 | 146 | 34 |
Profit loss before exceptional items and System Fund | 739 | 732 | 683 |
Group income statement | 156 | 132 | 118 |
Exceptional items (note 6) | 20 | 27 | 85 |
Other | (3) | ||
Income tax expense before exceptional items and System Fund | $ 176 | $ 159 | $ 200 |
Group income statement | 28.80% | 27.40% | 18.10% |
Average effective tax rate before exceptional items and System Fund | 23.80% | 21.70% | 29.30% |
Tax - Tax Paid - Additional Inf
Tax - Tax Paid - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current tax expense (income) and adjustments for current tax of prior periods [abstract] | |||
Net tax paid | $ 141 | $ 68 | $ 172 |
Net tax paid in operating activities | 141 | 66 | 147 |
Net tax paid in investing activities | $ 0 | $ 2 | $ 25 |
Tax - Summary of Reconciliati_3
Tax - Summary of Reconciliation of Tax Paid to Total Tax Charge in Income Statement (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation Of Tax Paid [abstract] | |||
Current tax charge in the Group income statement | $ (159) | $ (95) | $ (207) |
Current tax credit in the Group statement of comprehensive income | 2 | 1 | |
Current tax credit taken directly to equity | 4 | 8 | 12 |
Total current tax charge | (153) | (86) | (195) |
Movements to tax contingencies within the Group income statement | 3 | (4) | (3) |
Timing differences of cash tax paid and foreign exchange differences | 9 | 22 | 26 |
Tax paid per cash flow | $ (141) | $ (68) | $ (172) |
Tax - Current Tax - Additional
Tax - Current Tax - Additional Information (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of uncertain tax positions within current tax [line items] | ||
Uncertain tax positions included within current tax liability | $ 33,000,000 | $ 29,000,000 |
Maximum [member] | ||
Disclosure of uncertain tax positions within current tax [line items] | ||
Uncertain tax positions included within current tax liability | $ 9,000,000 | $ 8,000,000 |
Tax - Summary of Deferred Tax (
Tax - Summary of Deferred Tax (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | $ (61) | $ (17) |
Group income statement | 3 | (37) |
Assets of businesses acquired | 2 | 3 |
Group statement of comprehensive income | (4) | |
Group statement of changes in equity | (5) | |
Exchange and other adjustments | 4 | (1) |
Ending balance | (52) | (61) |
Deferred gains on loan notes [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | (35) | (34) |
Group income statement | 1 | (1) |
Ending balance | (34) | (35) |
Deferred gains on investments [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | (56) | (54) |
Group income statement | (2) | (2) |
Ending balance | (58) | (56) |
Losses [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | 35 | 40 |
Group income statement | (9) | (4) |
Exchange and other adjustments | 1 | (1) |
Ending balance | 27 | 35 |
Employee benefits [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | 18 | 20 |
Group statement of comprehensive income | 1 | (2) |
Exchange and other adjustments | 1 | |
Ending balance | 20 | 18 |
Undistributed earnings of subsidiaries [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | (2) | |
Group income statement | 2 | (2) |
Ending balance | (2) | |
Other short-term temporary differences [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | 91 | 86 |
Group income statement | 12 | 2 |
Assets of businesses acquired | 2 | 10 |
Group statement of comprehensive income | (1) | (2) |
Group statement of changes in equity | (5) | |
Ending balance | 104 | 91 |
Property, plant, equipment and software [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | (120) | (98) |
Group income statement | (26) | |
Assets of businesses acquired | 4 | |
Exchange and other adjustments | 1 | |
Ending balance | (119) | (120) |
Other intangibles [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | (21) | (2) |
Group income statement | 1 | (8) |
Assets of businesses acquired | (11) | |
Exchange and other adjustments | 1 | |
Ending balance | (19) | (21) |
Application fees and contract costs [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Beginning balance | 29 | 25 |
Group income statement | (2) | 4 |
Ending balance | $ 27 | $ 29 |
Tax - Deferred Tax - Additional
Tax - Deferred Tax - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of income tax reconciliation [line items] | ||
Deferred tax assets recognized related to legal entities which suffered tax loss | $ 0 | $ 0 |
Uncertain tax positions included within deferred tax liability | 0 | 0 |
Uncertain tax positions offset from deferred tax asset | 0 | 0 |
Losses [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Deferred tax asset recognised in respect of revenue losses | 27 | 35 |
Loans Notes [member] | 2025 [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Deferred gains on loan notes | 0 | |
Unprovided deferred tax on unremitted earnings [member] | ||
Disclosure of income tax reconciliation [line items] | ||
Unremitted earnings on which no deferred tax provided | $ 900 | $ 800 |
Tax - Deferred Taxes by Territo
Tax - Deferred Taxes by Territory Explanatory (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | $ (52) | $ (61) | $ (17) |
Deferred gains on loan notes [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (34) | (35) | (34) |
Deferred gains on investments [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (58) | (56) | (54) |
Losses [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 27 | 35 | 40 |
Employee benefits [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 20 | 18 | 20 |
Other short-term temporary differences [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 104 | 91 | 86 |
United Kingdom [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 55 | ||
United Kingdom [member] | Losses [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 21 | ||
United Kingdom [member] | Employee benefits [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 4 | ||
United Kingdom [member] | Other short-term temporary differences [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 20 | ||
United States [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (111) | ||
United States [member] | Deferred gains on loan notes [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (34) | ||
United States [member] | Deferred gains on investments [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (58) | ||
United States [member] | Losses [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 1 | ||
United States [member] | Employee benefits [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 16 | ||
United States [member] | Other short-term temporary differences [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 74 | ||
Other Countries [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 4 | ||
Other Countries [member] | Losses [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 5 | ||
Other Countries [member] | Other short-term temporary differences [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 10 | ||
Property, plant, equipment and software [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (119) | (120) | (98) |
Property, plant, equipment and software [member] | United Kingdom [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 6 | ||
Property, plant, equipment and software [member] | United States [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (125) | ||
Other intangibles [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (19) | (21) | (2) |
Other intangibles [member] | United Kingdom [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 5 | ||
Other intangibles [member] | United States [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (18) | ||
Other intangibles [member] | Other Countries [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (6) | ||
Application fees and contract costs [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 27 | $ 29 | $ 25 |
Application fees and contract costs [member] | United Kingdom [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | (1) | ||
Application fees and contract costs [member] | United States [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | 33 | ||
Application fees and contract costs [member] | Other Countries [member] | |||
Disclosure of deferred taxes [line items] | |||
Deferred tax liability asset | $ (5) |
Tax - Summary of Deferred Tax B
Tax - Summary of Deferred Tax Balance After Offset of Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Changes in deferred tax liability (asset) [abstract] | |||
Deferred tax assets | $ 66 | $ 63 | $ 78 |
Deferred tax liabilities | (118) | (124) | (95) |
Deferred tax liability asset | $ (52) | $ (61) | $ (17) |
Tax - Summary of Unrecognised D
Tax - Summary of Unrecognised Deferred Tax Position (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Unrecognised deferred tax position [line items] | ||
Unrecognised deferred tax | $ 181 | $ 171 |
Gross carrying amount | 994 | 1,013 |
Revenue losses [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 413 | 448 |
Unrecognised deferred tax | 65 | 67 |
Capital losses [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 541 | 516 |
Unrecognised deferred tax | 95 | 90 |
Total losses [member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 954 | 964 |
Unrecognised deferred tax | 160 | 157 |
Other [member] | ||
Unrecognised deferred tax position [line items] | ||
Unrecognised deferred tax | 1 | 7 |
Gross carrying amount | 2 | 24 |
Foreign tax credit [Member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 13 | |
Unrecognised tax credits deferred tax | 13 | |
Leases [Member] | ||
Unrecognised deferred tax position [line items] | ||
Gross carrying amount | 25 | 25 |
Unrecognised deferred tax | $ 7 | $ 7 |
Dividends - Summary of Dividend
Dividends - Summary of Dividends Paid And Proposed (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Dividends Paid and Proposed [abstract] | |||
Final (declared for previous year) | $ 0.781 | $ 0.710 | $ 0.640 |
Interim | 0.399 | 0.363 | 0.330 |
Special | 2.621 | 0 | 2.025 |
Dividends paid | 3.801 | 1.073 | 2.995 |
Final Proposed (not recognised as a liability at 31 December) | $ 0.859 | $ 0.781 | $ 0.710 |
Final (declared for previous year) | $ 139 | $ 130 | $ 127 |
Interim | 72 | 69 | 62 |
Special | 510 | 404 | |
Dividends paid | 721 | 199 | 593 |
Final Proposed (not recognised as a liability at 31 December) | $ 156 | $ 141 | $ 135 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of dividends paid and proposed [line items] | |||
Final Proposed (not recognised as a liability at 31 December) | $ 0.859 | $ 0.781 | $ 0.710 |
Proposed dividends [member] | |||
Disclosure of dividends paid and proposed [line items] | |||
Final Proposed (not recognised as a liability at 31 December) | $ 0.859 | ||
Final Proposed (not recognised as a liability at 31 December) dividend approval date | May 7, 2020 | ||
Final proposed dividend record date | Apr. 3, 2020 |
Earnings Per Ordinary Share - S
Earnings Per Ordinary Share - Summary of Earnings Per Ordinary Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic earnings per ordinary share | |||
Profit available for equity holders | $ 385 | $ 349 | $ 534 |
Basic weighted average number of ordinary shares (millions) | 183 | 190 | 193 |
Basic earnings per ordinary share | $ 2.104 | $ 1.837 | $ 2.767 |
Diluted earnings per ordinary share | |||
Profit available for equity holders | $ 385 | $ 349 | $ 534 |
Diluted weighted average number of ordinary shares (millions) | 184 | 192 | 194 |
Diluted earnings per ordinary share | $ 2.092 | $ 1.818 | $ 2.753 |
Adjusted earnings per ordinary share | |||
Profit available for equity holders | $ 385 | $ 349 | $ 534 |
Adjusting items: | |||
System Fund revenues and expenses | 49 | 146 | 34 |
Interest attributable to the System Fund | (18) | (19) | (13) |
Tax attributable to the System Fund | 3 | ||
Operating exceptional items before tax | 186 | 104 | (4) |
Change in fair value of contingent purchase consideration | (27) | 4 | |
Tax on exceptional items | (20) | (22) | 2 |
Exceptional tax | (5) | (87) | |
Adjusted earnings | $ 555 | $ 557 | $ 469 |
Basic weighted average number of ordinary shares (millions) | 183 | 190 | 193 |
Adjusted earnings per ordinary share | $ 3.303 | $ 2.932 | $ 2.430 |
Adjusted diluted earnings per ordinary share | |||
Adjusted earnings | $ 555 | $ 557 | $ 469 |
Diluted weighted average number of ordinary shares (millions) | 184 | 192 | 194 |
Adjusted diluted earnings per ordinary share | $ 3.016 | $ 2.901 | $ 2.418 |
Diluted weighted average number of ordinary shares is calculated as: | |||
Basic weighted average number of ordinary shares | 183 | 190 | 193 |
Dilutive potential ordinary shares | 1 | 2 | 1 |
Adjusted weighted average shares | 184 | 192 | 194 |
Acquisition of Businesses - Add
Acquisition of Businesses - Additional Information (Detail) | Feb. 14, 2019USD ($)Hotel | Feb. 12, 2019USD ($) | Nov. 13, 2018Hotel | Jul. 25, 2018Hotel | Jul. 01, 2018USD ($) | Dec. 31, 2019USD ($)Hotel | Dec. 31, 2018USD ($)HotelAssociate |
Disclosure of detailed information about business combination [line items] | |||||||
Cash paid on acquisition | $ 299,000,000 | $ 22,000,000 | |||||
Regent [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Date of acquisition | Jul. 1, 2018 | ||||||
Name of acquiree | Regent Hospitality Worldwide, Inc (RHW), 100% of the issued share capital of Regent International Hotels Limited and 100% of the issued share capital of Regent Berlin GmbH. | ||||||
Description of acquiree | the acquisition of a 51% controlling interest in an agreement with Formosa International Hotels Corporation (FIH) to acquire the Regent Hotels and Resorts brand and associated management agreements (Regent). | ||||||
Description of primary reasons for business combination | On 1 July 2018, the Group completed the acquisition of a 51% controlling interest in an agreement with Formosa International Hotels Corporation to acquire the Regent Hotels and Resorts brand and associated management agreements (Regent). The Group acquired 51% of the issued share capital of Regent Hospitality Worldwide, Inc (RHW), 100% of the issued share capital of Regent International Hotels Limited and 100% of the issued share capital of Regent Berlin GmbH. | ||||||
Beneficial interest | 49.00% | 49.00% | |||||
Non-controlling interest | $ 0 | ||||||
Acquisition of controlling interest, description | Put and call options exist over the remaining 49% shareholding in RHW which are exercisable in a phased manner from 2026. As the decision-making powers related to the remaining shares are not substantive in driving RHW’s returns and FIH do not share in any costs associated with the future development of the Regent brand, it has been determined that the Group has a present ownership interest in the remaining shares. As such, RHW has been accounted for as 100% owned with no non-controlling interest recognised. | ||||||
Total purchase consideration | 88,000,000 | ||||||
Cash paid on acquisition | 13,000,000 | ||||||
Deferred purchase consideration | 22,000,000 | ||||||
Contingent purchase consideration | 53,000,000 | ||||||
Net identifiable assets acquired | 53,000,000 | ||||||
Brands | 57,000,000 | ||||||
Management agreements | 6,000,000 | ||||||
Goodwill | $ 35,000,000 | ||||||
UK Portfolio [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Date of acquisition | Jul. 25, 2018 | ||||||
Name of acquiree | Hotels under long-term leases from Covivio (formerly Fonciere des Regions) which operated under the Principal and De Vere Hotels brands. | ||||||
Description of primary reasons for business combination | On 25 July 2018, the Group completed a deal to operate nine hotels under long-term leases from Covivio (formerly Foncière des Régions) which operated under the Principal and De Vere Hotels brands. An additional leased hotel was added to the portfolio on 13 November 2018 bringing the total to 10 at 31 December 2018. | ||||||
Number of hotels operates under long term leases | Hotel | 12 | 10 | |||||
Number of hotels acquired | 1 | 9 | 10 | ||||
Working capital refund | $ 3,000,000 | ||||||
Total purchase consideration | 62,000,000 | ||||||
Cash paid on acquisition | 9,000,000 | ||||||
Contingent purchase consideration | 56,000,000 | ||||||
Net identifiable assets acquired | 14,000,000 | ||||||
Goodwill | 48,000,000 | ||||||
Property, plant and equipment | 25,000,000 | ||||||
Deferred tax assets | 14,000,000 | ||||||
Deferred revenue | 8,000,000 | ||||||
Stamp duty liability | 14,000,000 | ||||||
Working Capital | 6,000,000 | ||||||
Increase in goodwill | 4,000,000 | ||||||
Right-of-use assets | 51,000,000 | ||||||
Lease liability | $ 51,000,000 | ||||||
UK Portfolio [member] | Two Hotels [Member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Date of acquisition | Feb. 14, 2019 | ||||||
Description of acquiree | The Group added a further two hotels to the portfolio bringing the total hotels in the UK portfolio to 12. | ||||||
Acquisition of controlling interest, description | On 14 February 2019, following on from the UK portfolio deal completed in 2018 to operate 10 UK hotels under long-term leases from Covivio (see below), the Group added a further two hotels to the portfolio bringing the total hotels in the UK portfolio to 12. | ||||||
Contributed revenue | $ 15,000,000 | ||||||
Operating profit (loss) | 1,000,000 | ||||||
Increase in group revenue | $ 0 | ||||||
Impact of group revenue description | If the acquisition had taken place at 1 January 2019, there would have been no material difference to reported Group revenue and operating profit | ||||||
Operating profit (loss) | $ 0 | ||||||
Number of hotels operates under long term leases | Hotel | 2 | ||||||
Number of hotels acquired | Hotel | 2 | ||||||
Total purchase consideration | $ 11,000,000 | ||||||
Cash paid on acquisition | 1,000,000 | ||||||
Contingent purchase consideration | 10,000,000 | ||||||
Goodwill | $ 12,000,000 | ||||||
Description of factors that make up goodwill recognised | The goodwill was attributable to the trading potential of the acquired hotel operations and growth opportunities. | ||||||
Business combination right of use assets recognised | $ 6,000,000 | ||||||
Business combination lease liabilitites | $ 6,000,000 | ||||||
Six Senses Hotels Resorts Spas [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Acquisition of controlling interest | 100.00% | ||||||
Date of acquisition | Feb. 12, 2019 | ||||||
Name of acquiree | Six Senses Hotels Resorts Spas (Six Senses) | ||||||
Description of acquiree | Six Senses is a leading operator of top tier luxury hotels, resorts and spas with a world-renowned reputation for wellness and sustainability | ||||||
Description of primary reasons for business combination | Six Senses will sit at the top of IHG’s luxury portfolio. | ||||||
Contributed revenue | $ 38,000,000 | ||||||
Operating profit (loss) | $ (7,000,000) | ||||||
Increase in group revenue | $ 0 | ||||||
Impact of group revenue description | If the acquisition had taken place at 1 January 2019, there would have been no material difference to reported Group revenue and operating profit for the year ended 31 December 2019. | ||||||
Contingent liabilities recognised | $ 0 | ||||||
Gross contractual value of trade receivables | 10,000,000 | ||||||
Fair value of trade receivables, book value | 8,000,000 | ||||||
Total purchase consideration | 304,000,000 | ||||||
Cash paid on acquisition | 299,000,000 | ||||||
Contingent purchase consideration | 5,000,000 | ||||||
Net identifiable assets acquired | 246,000,000 | ||||||
Brands | 189,000,000 | ||||||
Management agreements | 45,000,000 | ||||||
Goodwill | $ 58,000,000 | ||||||
Description of arrangement for contingent consideration arrangements and indemnification assets | Payable upon certain conditions being met relating to a pipeline property | ||||||
Business combination right of use assets recognised | $ 19,000,000 | ||||||
Business combination lease liabilitites | 19,000,000 | ||||||
Six Senses Hotels Resorts Spas [member] | Minimum [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Contingent purchase consideration | 0 | ||||||
Six Senses Hotels Resorts Spas [member] | Maximum [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Contingent purchase consideration | $ 5,000,000 |
Acquisition of Businesses - Sum
Acquisition of Businesses - Summary of Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Feb. 12, 2019 | Dec. 31, 2018 |
Comprising: | |||
Cash paid on acquisition, including working capital settlement | $ 299 | $ 22 | |
Six Senses Hotels Resorts Spas [member] | |||
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items] | |||
Brands | $ 189 | ||
Management agreements | 45 | ||
Non-current assets | 8 | ||
Right-of-use assets | 19 | ||
Trade and other receivables | 12 | ||
Cash and cash equivalents | 7 | ||
Other current assets | 1 | ||
Trade and other payables | (14) | ||
Lease liabilities | (19) | ||
Other liabilities | (2) | ||
Net identifiable assets acquired | 246 | ||
Goodwill | 58 | ||
Total purchase consideration | 304 | ||
Comprising: | |||
Cash paid on acquisition, including working capital settlement | 299 | ||
Contingent purchase consideration | 5 | ||
Total purchase consideration | $ 304 |
Acquisition of Businesses - S_2
Acquisition of Businesses - Summary of Cash Flows Relating to Acquisitions (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of consideration transferred business combinations [line items] | ||
Cash paid on acquisition, including working capital settlement | $ 299 | $ 22 |
Settlement of stamp duty liability | 3 | 14 |
Less: cash and cash equivalents acquired | (7) | (2) |
Less: working capital settlement received in year following acquisition | (3) | |
Net cash outflow arising on acquisitions | $ 292 | $ 34 |
Assets and liabilities classi_3
Assets and liabilities classified as held for sale - Additional Information (Detail) $ in Millions | Dec. 31, 2019USD ($) |
Holiday Inn Melbourne Airport [member] | EMEAA [member] | |
Assets and liabilities classified as held for sale [line items] | |
Disposal group net assets disposed consideration receivable | $ 2 |
Assets and liabilities classi_4
Assets and liabilities classified as held for sale - Summary of assets and liabilities classified as held for sale (Details) $ in Millions | Dec. 31, 2019USD ($) |
Assets and liabilities classified as held for sale [line items] | |
Non current assets classified as held for sale | $ 19 |
Current and non current assets classified as held for sale | 19 |
Liabilities classified as held for sale | (22) |
Property, plant and equipment [Member] | |
Assets and liabilities classified as held for sale [line items] | |
Non current assets classified as held for sale | 3 |
Right-of-use assets [Member] | |
Assets and liabilities classified as held for sale [line items] | |
Non current assets classified as held for sale | 15 |
Trade and other receivables [Member] | |
Assets and liabilities classified as held for sale [line items] | |
Current assets classified as held for sale | 1 |
Trade and other payable [Member] | |
Assets and liabilities classified as held for sale [line items] | |
Liabilities classified as held for sale | (2) |
Lease liabilities [member] | |
Assets and liabilities classified as held for sale [line items] | |
Liabilities classified as held for sale | $ (20) |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Summary of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | $ 1,143 | $ 967 |
Ending balance | 1,376 | 1,143 |
Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,581 | 1,399 |
Acquisition of businesses (note 11) | 304 | 147 |
Additions | 108 | 112 |
Capitalised interest | 5 | 5 |
Disposals | (22) | (72) |
Exchange and other adjustments | 1 | (10) |
Ending balance | 1,977 | 1,581 |
Amortisation and impairment [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (438) | (432) |
Provided | (40) | (40) |
System Fund expense | (47) | (37) |
Impairment charges | (99) | |
Disposals | 22 | 67 |
Exchange and other adjustments | 1 | 4 |
Ending balance | (601) | (438) |
Goodwill [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 313 | 237 |
Ending balance | 339 | 313 |
Goodwill [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 455 | 377 |
Acquisition of businesses (note 11) | 70 | 83 |
Additions | 4 | |
Exchange and other adjustments | (5) | |
Ending balance | 529 | 455 |
Goodwill [member] | Amortisation and impairment [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (142) | (140) |
Impairment charges | (49) | |
Exchange and other adjustments | 1 | (2) |
Ending balance | (190) | (142) |
Brands [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 250 | 193 |
Ending balance | 439 | 250 |
Brands [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 250 | 193 |
Acquisition of businesses (note 11) | 189 | 58 |
Exchange and other adjustments | (1) | |
Ending balance | 439 | 250 |
Software [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 500 | 464 |
Ending balance | 524 | 500 |
Software [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 781 | 745 |
Additions | 98 | 107 |
Capitalised interest | 5 | 5 |
Disposals | (22) | (72) |
Exchange and other adjustments | 2 | (4) |
Ending balance | 864 | 781 |
Software [member] | Amortisation and impairment [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (281) | (281) |
Provided | (35) | (36) |
System Fund expense | (46) | (37) |
Disposals | 22 | 67 |
Exchange and other adjustments | 6 | |
Ending balance | (340) | (281) |
Management contracts [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 67 | 64 |
Ending balance | 59 | 67 |
Management contracts [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 77 | 71 |
Acquisition of businesses (note 11) | 45 | 6 |
Ending balance | 122 | 77 |
Management contracts [member] | Amortisation and impairment [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (10) | (7) |
Provided | (3) | (3) |
Impairment charges | (50) | |
Ending balance | (63) | (10) |
Other intangibles [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 13 | 9 |
Ending balance | 15 | 13 |
Other intangibles [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 18 | 13 |
Additions | 6 | 5 |
Exchange and other adjustments | (1) | |
Ending balance | 23 | 18 |
Other intangibles [member] | Amortisation and impairment [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (5) | (4) |
Provided | (2) | (1) |
System Fund expense | (1) | |
Ending balance | $ (8) | $ (5) |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)Hotel | Dec. 31, 2018USD ($) | Dec. 31, 2025 | Dec. 31, 2017USD ($) | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Contingency factor applied to reduce cash flow projections | 10.00% | |||
Goodwill and other intangible assets | $ 1,376 | $ 1,143 | $ 967 | |
Description of key assumptions on which management has based cash flow projections | Given the contingency factor applied to the cash flow projections and the significant amounts by which the recoverable amounts of the CGUs exceed their carrying amounts, management have determined that impairment charges would not arise from reasonably possible changes in the key assumptions. | |||
Impairment charges total | $ 32 | |||
Goodwill carrying value | 339 | 313 | ||
Gain loss due to change in the fair value of contingent consideration | $ 27 | $ (4) | ||
UK Portfolio [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Number of hotels | Hotel | 12 | |||
Duration for cash flow discounted amount projected | 5 years | |||
Discount rate for cash flow projections | 9.70% | |||
Impairment charges total | $ 81 | |||
Impairment charges goodwill | 49 | |||
Impairment charges right of use assets | 32 | |||
Goodwill carrying value | 0 | |||
Gain loss due to change in the fair value of contingent consideration | 38 | |||
Net impact before tax resulting from the reassessment of the hotel cash flows | $ 43 | |||
UK Portfolio [member] | Scenario forecast [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Extrapolation rate used to project future cash flows | 1.50% | |||
Management agreements [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Weighted average remaining amortisation period | 26 years | 25 years | ||
Management agreements and Kimpton [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Extrapolation rate used to project future cash flows | 2.00% | |||
Discount rate for cash flow projections | 8.00% | 9.00% | ||
Kimpton Management Agreements [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Impairment Charge | $ 50 | |||
Guest Reservation System [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and other intangible assets | $ 288 | |||
Guest Reservation System [member] | Phase 1 [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Weighted average amortisation period | 10 years | |||
Weighted average remaining period | 9 years | |||
Phase 2 Software assets not in use and therefore not being amortised [member] | Guest Reservation System [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and other intangible assets | $ 135 | |||
Brands [member] | Kimpton [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and other intangible assets | 193 | |||
Brands [member] | Six Senses [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and other intangible assets | 189 | |||
Regent [member] | Brands [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and other intangible assets | $ 57 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Summary of Carrying Value of Goodwill and Indefinite Life Brands were Allocated to CGUs for Year-end Impairment Testing (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | $ 339 | $ 313 |
Indefinite life brands | 439 | 250 |
Gross carrying amount [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 388 | 313 |
Indefinite life brands | 439 | 250 |
Americas Managed [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 95 | 69 |
Indefinite life brands | 289 | 203 |
Americas franchised [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 37 | 37 |
Europe Middle East Asia and Africa Europe managed [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 48 | 29 |
Indefinite life brands | 46 | 13 |
Europe Middle East Asia and Africa Europe franchised [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 10 | 10 |
Europe Middle East Asia and Africa rest of region [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 140 | 113 |
Indefinite life brands | 88 | 23 |
Greater China [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 9 | 7 |
Indefinite life brands | 16 | 11 |
UK Portfolio [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 49 | |
Cash-generating units [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | 388 | 265 |
Indefinite life brands | 439 | 250 |
Unallocated [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Goodwill | $ 48 | |
UK portfolio impairment [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Less: UK portfolio impairment | $ (49) |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Summary of Terminal Growth Rates and Discount Rates Used in Impairment Tests (Detail) | Dec. 31, 2019 | Dec. 31, 2018 |
Americas Managed [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Terminal growth rate | 1.90% | 2.00% |
Discount rate | 9.60% | 10.50% |
Americas franchised [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Terminal growth rate | 1.90% | 2.00% |
Discount rate | 8.60% | 9.60% |
Europe Middle East Asia and Africa Europe managed [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Terminal growth rate | 1.50% | 2.00% |
Discount rate | 8.90% | 11.40% |
Europe Middle East Asia and Africa Europe franchised [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Terminal growth rate | 1.50% | 2.00% |
Discount rate | 7.90% | 10.50% |
Europe Middle East Asia and Africa rest of region [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Terminal growth rate | 3.30% | 3.50% |
Discount rate | 11.60% | 13.40% |
Greater China [member] | ||
Disclosure of information for cash-generating units [Line Items] | ||
Terminal growth rate | 2.50% | 2.50% |
Discount rate | 10.80% | 12.30% |
Goodwill and other intangible_7
Goodwill and other intangible assets - Summary of detailed information about intangible assets (Detail) - Management contracts [member] $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Kimpton [member] | |
Disclosure of detailed information about business combination [line items] | |
Net book value | $ 10 |
Remaining amortisation period | 20 years |
Six Senses [member] | |
Disclosure of detailed information about business combination [line items] | |
Net book value | $ 44 |
Remaining amortisation period | 30 years |
Property, plant and equipment -
Property, plant and equipment - Summary of Net Book Value of Property, Plant and Equipment (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | $ 273 | $ 250 |
Additions | 108 | 112 |
Transfers to assets classified as held for sale (note 12) | (23) | |
Ending balance | 309 | 273 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 513 | 654 |
Acquisition of businesses (note 11) | 2 | 26 |
Additions | 77 | 47 |
Transfers to assets classified as held for sale (note 12) | (12) | |
Fully depreciated assets written off | (62) | (178) |
Disposals | (6) | (29) |
Exchange and other adjustments | 2 | (7) |
Ending balance | 514 | 513 |
Accumulated depreciation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (240) | (404) |
Provided | (38) | (40) |
System Fund expense | (2) | (8) |
Transfers to assets classified as held for sale (note 12) | 9 | |
Fully depreciated assets written off | 62 | 178 |
Disposals | 4 | 25 |
Exchange and other adjustments | 9 | |
Ending balance | (205) | (240) |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 127 | 127 |
Ending balance | 134 | 127 |
Land and buildings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 199 | 205 |
Acquisition of businesses (note 11) | 1 | |
Additions | 9 | 8 |
Fully depreciated assets written off | (2) | (11) |
Exchange and other adjustments | (3) | |
Ending balance | 207 | 199 |
Land and buildings [member] | Accumulated depreciation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (72) | (78) |
Provided | (3) | (6) |
System Fund expense | 0 | |
Fully depreciated assets written off | 2 | 11 |
Exchange and other adjustments | 1 | |
Ending balance | (73) | (72) |
Fixtures, fittings and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 146 | 123 |
Ending balance | 175 | 146 |
Fixtures, fittings and equipment [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 314 | 449 |
Acquisition of businesses (note 11) | 1 | 26 |
Additions | 68 | 39 |
Transfers to assets classified as held for sale (note 12) | (12) | |
Fully depreciated assets written off | (60) | (167) |
Disposals | (6) | (29) |
Exchange and other adjustments | 2 | (4) |
Ending balance | 307 | 314 |
Fixtures, fittings and equipment [member] | Accumulated depreciation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (168) | (326) |
Provided | (35) | (34) |
System Fund expense | (2) | (8) |
Transfers to assets classified as held for sale (note 12) | 9 | |
Fully depreciated assets written off | 60 | 167 |
Disposals | 4 | 25 |
Exchange and other adjustments | 8 | |
Ending balance | $ (132) | $ (168) |
Property, plant and equipment_2
Property, plant and equipment - Additional Information (Detail) - Hotel | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [abstract] | ||
Number of open hotels | 26 | 23 |
Property, plant and equipment_3
Property, plant and equipment - Summary of Net Book Value of Property, Plant and Equipment by Operating Segment (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | $ 309 | $ 273 | $ 250 |
Land and buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 134 | 127 | 127 |
Fixtures, fittings and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 175 | $ 146 | $ 123 |
Americas [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 163 | ||
Americas [member] | Land and buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 120 | ||
Americas [member] | Fixtures, fittings and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 43 | ||
EMEAA [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 56 | ||
EMEAA [member] | Land and buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 1 | ||
EMEAA [member] | Fixtures, fittings and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 55 | ||
Central [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 90 | ||
Central [member] | Land and buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | 13 | ||
Central [member] | Fixtures, fittings and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment | $ 77 |
Leases - Disclosure of quantita
Leases - Disclosure of quantitative information about right-of-use assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lease AssetsCost | |||
Beginning balance | $ 513 | $ 486 | |
Additions and other re-measurements | 40 | 20 | |
Acquisition of businesses [(note 11)] | 25 | 51 | |
Terminations | (16) | (14) | |
Exchange and other adjustments | 4 | (10) | |
Ending balance | 490 | 513 | $ 486 |
Transfers to assets classified as held for sale (note 12) | (23) | ||
Depreciation and impairment | |||
Beginning balance | (284) | (264) | |
Provided | (38) | (35) | |
System Fund expense | 1,422 | 1,379 | 1,276 |
Terminations | 15 | 14 | |
Exchange and other adjustments | (1) | 5 | |
Ending balance | (337) | (284) | (264) |
Impairment Charge | (32) | ||
Transfers to non-current assets classified as held for sale (note 12) | 8 | ||
Net book value | |||
Right-of-use assets net | 490 | 513 | 486 |
Property [member] | |||
Lease AssetsCost | |||
Beginning balance | 792 | 740 | |
Additions and other re-measurements | 39 | 19 | |
Acquisition of businesses [(note 11)] | 25 | 51 | |
Terminations | (15) | (8) | |
Exchange and other adjustments | 4 | (10) | |
Ending balance | 822 | 792 | 740 |
Transfers to assets classified as held for sale (note 12) | (23) | ||
Depreciation and impairment | |||
Beginning balance | (282) | (257) | |
Provided | (37) | (34) | |
System Fund expense | (5) | (4) | |
Terminations | 14 | 8 | |
Exchange and other adjustments | (1) | 5 | |
Ending balance | (335) | (282) | (257) |
Impairment Charge | (32) | ||
Transfers to non-current assets classified as held for sale (note 12) | 8 | ||
Net book value | |||
Right-of-use assets net | 487 | 510 | 483 |
Other [member] | |||
Lease AssetsCost | |||
Beginning balance | 5 | 10 | |
Additions and other re-measurements | 1 | 1 | |
Terminations | (1) | (6) | |
Ending balance | 5 | 5 | 10 |
Depreciation and impairment | |||
Beginning balance | (2) | (7) | |
Provided | (1) | (1) | |
Terminations | 1 | 6 | |
Ending balance | (2) | (2) | (7) |
Net book value | |||
Right-of-use assets net | $ 3 | $ 3 | $ 3 |
Leases - Additional Information
Leases - Additional Information (Detail) € in Millions, £ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019USD ($)Leases | Dec. 31, 2019EUR (€)Leases | Dec. 31, 2019GBP (£)Leases | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Disclosure Of Information Leases [Line Items] | |||||
Cash payments leases | $ 159 | $ 132 | $ 87 | ||
Weighted average remaining lease term | 42 years | 42 years | 42 years | ||
Percentage of right of use assets value | 91.00% | ||||
Cash payments leases-financing activities | $ 59 | 35 | 25 | ||
Cash payments leases-operating activities | 100 | 97 | 62 | ||
Variable lease payments not included in measurement of lease liabilities | 58 | 48 | 30 | ||
Undiscounted cash flows | 3 | 1 | |||
Undiscounted rent payable amount | 3,857 | 3,891 | |||
Depreciation,right of use assets | 38 | 35 | 34 | ||
Impairment charges right of use assets | $ 32 | ||||
Eight Priority Leases [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Number of top leases | Leases | 10 | ||||
Number of leases having extension option not included in calculation | Leases | 2 | 2 | 2 | ||
Undiscounted rent payable amount | $ 525 | ||||
Lease Period Extension [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Number of top leases | Leases | 2 | ||||
Later than five years [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Undiscounted cash flows receivable | $ 3 | 3 | 4 | ||
Undiscounted rent payable amount | 3,451 | 3,479 | |||
UK Portfolio [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Cash payments leases-financing activities | $ 17 | 3 | |||
Variable lease payments not included in measurement of lease liabilities | £ | £ 46 | ||||
Lease term remaining | 24 years | 24 years | 24 years | ||
UK Portfolio [member] | Right-of-use assets [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Impairment charges right of use assets | $ 32 | ||||
German Hotels [member] | Next Five Years [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Variable lease payments not included in measurement of lease liabilities | € | € 16 | ||||
German Hotels [member] | Next Six to Thirty Years [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Variable lease payments not included in measurement of lease liabilities | € | € 10 | ||||
Fixed Lease Payment Guaranteed [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Cash payments leases-financing activities | 26 | 3 | |||
Depreciation,right of use assets | $ 3 | $ 2 | $ 1 | ||
Bottom of range [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Lease Term | 1 year | 1 year | 1 year | ||
Top of range [member] | |||||
Disclosure Of Information Leases [Line Items] | |||||
Lease Term | 99 years | 99 years | 99 years |
Leases - Disclosure Of Lease Li
Leases - Disclosure Of Lease Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Information Relating To Lease Liabilities Line Items [Line Items] | |||
Current | $ 65 | $ 55 | $ 44 |
Non-current | 595 | 615 | $ 589 |
Total | 660 | 670 | |
US dollars [member] | |||
Disclosure Of Information Relating To Lease Liabilities Line Items [Line Items] | |||
Total | 514 | 528 | |
Sterling [member] | |||
Disclosure Of Information Relating To Lease Liabilities Line Items [Line Items] | |||
Total | 52 | 61 | |
Euros [member] | |||
Disclosure Of Information Relating To Lease Liabilities Line Items [Line Items] | |||
Total | 43 | 29 | |
Others [member] | |||
Disclosure Of Information Relating To Lease Liabilities Line Items [Line Items] | |||
Total | $ 51 | $ 52 |
Leases - Dislosure Of Lease Exp
Leases - Dislosure Of Lease Expenditure Recognised Explanatory (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Presentation of leases for lessee [abstract] | |||
Depreciation of right-of-use assets | $ 38 | $ 35 | $ 34 |
System Fund depreciation of right-of-use assets | 5 | 4 | 5 |
Expense relating to variable lease payments | 58 | 48 | 30 |
Expense relating to short-term leases and low-value assets | 3 | 3 | 2 |
Income from sub-leasing right-of-use assets | (2) | (2) | (2) |
Impairment charge | 32 | ||
Recognised in operating profit | 134 | 88 | 69 |
Interest on lease liabilities | 41 | 39 | 39 |
Total recognised in the Group income statement | $ 175 | $ 127 | $ 108 |
Investment in Associates and _3
Investment in Associates and Joint Ventures - Summary of Investments in Associates and Joint Ventures (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | $ 104 | $ 141 | |
Share of (losses)/gains | 3 | 1 | $ (3) |
Ending balance | 110 | 104 | 141 |
Cost [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | 140 | 178 | |
Additions | 14 | 3 | |
Share of (losses)/gains | (3) | (1) | |
Dividends and distributions | (7) | (37) | |
Exchange and other adjustments | (3) | ||
Exchange | 1 | ||
Ending balance | 145 | 140 | 178 |
Accumulated impairment [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | (36) | ||
Exchange and other adjustments | (37) | ||
Exchange | 1 | 1 | |
Ending balance | (35) | (36) | |
Joint ventures [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | 27 | ||
Ending balance | 27 | ||
Joint ventures [member] | Cost [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | 27 | ||
Share of (losses)/gains | 5 | ||
Dividends and distributions | (32) | ||
Ending balance | 27 | ||
Associates [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | 104 | 114 | |
Ending balance | 110 | 104 | 114 |
Associates [member] | Cost [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | 140 | 151 | |
Additions | 14 | 3 | |
Share of (losses)/gains | (3) | (6) | |
Dividends and distributions | (7) | (5) | |
Exchange and other adjustments | (3) | ||
Exchange | 1 | ||
Ending balance | 145 | 140 | $ 151 |
Associates [member] | Accumulated impairment [member] | |||
Disclosure of associates and joint ventures [line items] | |||
Beginning balance | (36) | ||
Exchange and other adjustments | (37) | ||
Exchange | 1 | 1 | |
Ending balance | $ (35) | $ (36) |
Investment in Associates and _4
Investment in Associates and Joint Ventures - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019Associate | Dec. 31, 2018USD ($)Associate | Dec. 31, 2017USD ($) | Mar. 31, 2017USD ($) | |
Joint venture [member] | ||||
Disclosure of investment in associates and joint ventures [line items] | ||||
Distribution received by group | $ 32 | |||
111 East 48th Street Holdings LLC [member] | ||||
Disclosure of investment in associates and joint ventures [line items] | ||||
Material associate investment interest | 19.90% | |||
Name of associate | 111 East 48th Street Holdings LLC | |||
Barclay associate [member] | ||||
Disclosure of investment in associates and joint ventures [line items] | ||||
Impairment charges | $ 18 | |||
Explanation of impairment charge | Impairment charges of $18m in 2017, related to the Barclay associate (see below), resulted from the depressed trading outlook for the New York hotel market and the high costs of renovating the hotel. | Impairment charges of $18m in 2017, related to the Barclay associate (see below), resulted from the depressed trading outlook for the New York hotel market and the high costs of renovating the hotel. | ||
Explanation of period over which management has projected cash flows | The hotel was appraised by a professional external valuer using an income capitalisation approach which is a discounted cash flow technique that measures the present value of projected income flows (over a 10-year period) and the reversion of the property sale. | The hotel was appraised by a professional external valuer using an income capitalisation approach which is a discounted cash flow technique that measures the present value of projected income flows (over a 10-year period) and the reversion of the property sale. | ||
Discount rate applied to cash flow projections | 7.30% | |||
Terminal capitalisation rate | 6.30% | |||
Number of material associate | Associate | 1 | 1 | ||
Material associate investment interest | 19.90% | 19.90% | ||
Description of nature of entity's relationship with associate | The Group held one material associate investment at 31 December 2019, a 19.9% interest in 111 East 48th Street Holdings, LLC (the 'Barclay associate') which owns InterContinental New York Barclay (the hotel), a hotel managed by the Group. The hotel reopened for trading in April 2016 following a major renovation. The investment is classified as an associate and equity accounted. Whilst the Group has the ability to exercise significant influence through certain decision rights, approval rights relating to the hotel's operating and capital budgets rest solely with the 80.1% majority member. The Group's ability to receive cash dividends is dependent on the hotel generating sufficient income to satisfy specified owner returns. | |||
Investment in conjunction with refinancing | $ 43 | |||
Indemnity for related obligations | 100.00% | |||
Barclay associate [member] | 111 East 48th Street Holdings LLC [member] | ||||
Disclosure of investment in associates and joint ventures [line items] | ||||
Name of associate | 111 East 48th Street Holdings, LLC | |||
Material associate investment interest held by majority member | 80.10% |
Investment in Associates and _5
Investment in Associates and Joint Ventures - Summary of Financial Information of Material Associate Investment (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [line items] | |||
Non-current assets | $ 3,041 | $ 2,719 | $ 2,461 |
Current assets | 916 | 1,373 | 861 |
Current liabilities | (1,365) | (1,407) | (1,306) |
Non-current liabilities | (4,054) | (3,816) | (3,370) |
Net assets | (1,465) | (1,131) | (1,354) |
Revenue | 4,627 | 4,337 | 4,075 |
Profit/(loss) for the period | 386 | 350 | $ 535 |
Barclay associate [member] | |||
Disclosure of associates [line items] | |||
Non-current assets | 515 | 529 | |
Current assets | 75 | 70 | |
Current liabilities | (22) | (17) | |
Non-current liabilities | (323) | (319) | |
Net assets | 245 | 263 | |
Revenue | 108 | 103 | |
Profit/(loss) for the period | (17) | (13) | |
Group's share of loss for the period, including the cost of funding owner returns | (10) | (8) | |
Barclay associate [member] | Group share of reported net assets at 19.9% [member] | |||
Disclosure of associates [line items] | |||
Net assets | 49 | 52 | |
Adjustments to reflect capitalised costs, and additional rights and obligations under the shareholder agreement | 4 | 7 | |
Carrying amount | $ 53 | $ 59 |
Investment in Associates and _6
Investment in Associates and Joint Ventures - Summary of Financial Information of Material Associate Investment (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Barclay associate [member] | ||
Disclosure of associates [line items] | ||
Net asset percentage | 19.90% | 19.90% |
Investment in Associates and _7
Investment in Associates and Joint Ventures - Summarised Aggregated Financial Information for Individually Immaterial Associates and Joint Ventures (Detail) - Before exceptional items [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of investment in associates and joint ventures [line items] | |||
Operating profits before exceptional items | $ 7 | $ 7 | $ 7 |
Joint ventures [member] | |||
Disclosure of investment in associates and joint ventures [line items] | |||
Operating profits before exceptional items | 5 | 1 | |
Associates [member] | |||
Disclosure of investment in associates and joint ventures [line items] | |||
Operating profits before exceptional items | $ 7 | $ 2 | $ 6 |
Other Financial Assets - Schedu
Other Financial Assets - Schedule of Other Financial Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial assets [line items] | |||
Current | $ 4 | $ 1 | $ 16 |
Non-current | 284 | 260 | $ 228 |
Other financial assets | 288 | 261 | |
Equity securities [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 133 | 116 | |
Restricted funds [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 98 | 95 | |
Quoted equity shares [member] | Equity securities [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 8 | 8 | |
Unquoted equity shares [member] | Equity securities [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 125 | 108 | |
Shortfall reserve deposit [member] | Restricted funds [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 25 | 25 | |
Ring fenced amounts to satisfy insurance claims, Cash [member] | Restricted funds [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 11 | 12 | |
Ring fenced amounts to satisfy insurance claims, Money market funds [member] | Restricted funds [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 16 | 16 | |
Other [member] | Restricted funds [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 5 | 2 | |
Bank accounts pledged as security [member] | Restricted funds [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | 41 | 40 | |
Trade deposits and loans [member] | |||
Disclosure of financial assets [line items] | |||
Other financial assets | $ 57 | $ 50 |
Other Financial Assets - Sche_2
Other Financial Assets - Schedule of Other Financial Assets Parenthetical (Detail) - Financial assets at fair value through profit or loss, category [member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets measured at fair value through profit or loss | $ 55 | $ 100 |
Other financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets measured at fair value through profit or loss | 16 | 16 |
Trade Deposits And Loans [Member] | Other financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets measured at fair value through profit or loss | $ 3 | $ 0 |
Other Financial Assets - Sche_3
Other Financial Assets - Schedule of Fair Value and Dividend Income of Significant Investments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Dividend income | $ 21 | $ 14 | $ 84 |
InterContinental The Willard Washington DC [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Equity securities measured at fair value | 36 | ||
Dividend income | 1 | ||
InterContinental San Francisco [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Equity securities measured at fair value | 31 | ||
Dividend income | 2 | ||
InterContinental Grand Stanford Hong Kong [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Equity securities measured at fair value | 23 | ||
Dividend income | $ 1 |
Other Financial Assets - Additi
Other Financial Assets - Additional Information (Detail) £ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2018USD ($) | |
Disclosure of financial assets [line items] | ||||
Proceeds from sale of interest in equity security available-for-sale | $ 75 | |||
Bank accounts pledged as security | £ | £ 31 | |||
Avendra LLC [member] | ||||
Disclosure of financial assets [line items] | ||||
Proceeds from sale of interest in equity security available-for-sale | $ 75 | |||
Percentage interest in equity security available-for-sale | 6.29% | |||
Gain on disposal of equity securities available-for-sale | $ 73 | |||
Trade deposits and loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Material deposit made to a hotel owner in connection with a portfolio of management contracts | $ 66 | $ 66 | ||
Discounted value of material deposit made to a hotel owner in connection with a portfolio of management contracts | $ 32 | $ 30 |
Other Financial Assets - Disclo
Other Financial Assets - Disclosure Of Maximum Risk To Credit Exposure By Geographies (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Maximum Risk To Credit Exposure By Geographies [Line Items] | ||
Maximum exposure to credit risk of other financial assets | $ 288 | $ 261 |
Americas [member] | ||
Disclosure Of Maximum Risk To Credit Exposure By Geographies [Line Items] | ||
Maximum exposure to credit risk of other financial assets | 169 | 162 |
EMEAA [member] | ||
Disclosure Of Maximum Risk To Credit Exposure By Geographies [Line Items] | ||
Maximum exposure to credit risk of other financial assets | 81 | 68 |
Greater China [member] | ||
Disclosure Of Maximum Risk To Credit Exposure By Geographies [Line Items] | ||
Maximum exposure to credit risk of other financial assets | $ 38 | $ 31 |
Trade and other receivables - S
Trade and other receivables - Summary of Trade and Other Receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Current | |||
Trade receivables | $ 514 | $ 474 | |
Other receivables | 37 | 27 | |
Prepayments | 114 | 108 | |
Receivables from associates | 1 | 1 | |
Trade and other current receivables | $ 666 | $ 610 | $ 549 |
Trade and other receivables - A
Trade and other receivables - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Trade and other receivables [abstract] | |
Non-interest-bearing trade receivables, payment terms | 30 days |
Trade and other receivables -_2
Trade and other receivables - Summary of Ageing of Trade and Other Receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of trade and other receivables [line items] | ||||
Gross | $ 570 | $ 513 | ||
Credit loss allowance | (18) | (11) | $ (77) | $ (69) |
Net | 552 | 502 | ||
Not past due [member] | ||||
Disclosure of trade and other receivables [line items] | ||||
Gross | 400 | 356 | ||
Credit loss allowance | (3) | (1) | ||
Net | 397 | 355 | ||
Past due 1 to 30 days [member] | ||||
Disclosure of trade and other receivables [line items] | ||||
Gross | 74 | 71 | ||
Credit loss allowance | (3) | (1) | ||
Net | 71 | 70 | ||
Past due 31 to 90 days [member] | ||||
Disclosure of trade and other receivables [line items] | ||||
Gross | 56 | 52 | ||
Credit loss allowance | (5) | (2) | ||
Net | 51 | 50 | ||
Past due more than 90 days [member] | ||||
Disclosure of trade and other receivables [line items] | ||||
Gross | 40 | 34 | ||
Credit loss allowance | (7) | (7) | ||
Net | $ 33 | $ 27 |
Trade and other receivables -_3
Trade and other receivables - Summary of Movement in Allowance for Expected Lifetime Credit Losses of Trade and Other Receivables (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Trade and other receivables [abstract] | ||||
At 1 January | $ (11) | $ (77) | $ (69) | |
Adjustment arising on adoption of IFRS 9 | [1] | 67 | ||
Provided | (20) | (28) | (15) | |
Amounts written back | 2 | |||
Amounts written off | 14 | 26 | 6 | |
Exchange adjustments | (1) | 1 | (1) | |
At 31 December | $ (18) | $ (11) | $ (77) | |
[1] | IFRS 9 was applied from 1 January 2018. Under the transition method chosen, comparative information was not restated. |
Trade and other receivables -_4
Trade and other receivables - Summary of Maximum Exposure to Credit Risk for Trade and Other Receivables Excluding Prepayments by Geographic Region (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of trade and other receivables [line items] | ||
Maximum exposure to credit risk | $ 552 | $ 502 |
Americas [member] | ||
Disclosure of trade and other receivables [line items] | ||
Maximum exposure to credit risk | 359 | 325 |
EMEAA [member] | ||
Disclosure of trade and other receivables [line items] | ||
Maximum exposure to credit risk | 141 | 125 |
Greater China [member] | ||
Disclosure of trade and other receivables [line items] | ||
Maximum exposure to credit risk | $ 52 | $ 52 |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of Cash and Cash Equivalents in the Statement of Cash Flows (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents [abstract] | ||||
Cash at bank and in hand | $ 160 | $ 202 | ||
Short-term deposits | 158 | |||
Money market funds | 35 | 76 | ||
Repurchase agreements | 268 | |||
Cash and cash equivalents as recorded in the Group statement of financial position | 195 | 704 | $ 168 | |
Bank overdrafts | (87) | (104) | ||
Cash and cash equivalents as recorded in the Group statement of cash flows | $ 108 | $ 600 | $ 58 | $ 117 |
Cash and cash equivalents - Add
Cash and cash equivalents - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents [line items] | ||
Bank balances | $ 95 | $ 106 |
Bank overdrafts | 87 | 104 |
Local countries which do not have the current ability to repatriate funds through dividends [member] | ||
Cash and cash equivalents [line items] | ||
Restricted Cash and cash equivalents | 16 | 2 |
UK Portfolio [member] | ||
Cash and cash equivalents [line items] | ||
Restricted Cash and cash equivalents | $ 6 | $ 0 |
Maximum [member] | ||
Cash and cash equivalents [line items] | ||
Short-term deposits and repurchase agreements maturity period | 3 months |
Trade and other payables - Summ
Trade and other payables - Summary of Trade and Other Payables (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Current | |||
Trade payables | $ 90 | $ 132 | |
Other tax and social security payable | 42 | 44 | |
Other payables | 97 | 94 | |
Contingent purchase consideration | 1 | 7 | |
Accruals | 338 | 339 | |
Trade and other current payables | 568 | 616 | $ 595 |
Non-current | |||
Other payables | 3 | 1 | |
Deferred purchase consideration | 23 | 22 | |
Contingent purchase consideration | 90 | 102 | |
Trade and other non current payables | $ 116 | $ 125 | $ 7 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [Line Items] | ||
Other provisions, beginning balance | $ 27 | $ 8 |
Reclassification from other trade and other payables | 25 | |
(Released)/provided | 43 | 4 |
Utilised | (8) | (10) |
Other provisions, ending balance | 62 | 27 |
Security Incidents [member] | ||
Disclosure of other provisions [Line Items] | ||
Other provisions, beginning balance | 5 | |
(Released)/provided | (2) | |
Utilised | (3) | |
Litigation [member] | ||
Disclosure of other provisions [Line Items] | ||
Other provisions, beginning balance | 2 | 3 |
(Released)/provided | 30 | (1) |
Other provisions, ending balance | 32 | 2 |
Insurance reserves [member] | ||
Disclosure of other provisions [Line Items] | ||
Other provisions, beginning balance | 25 | |
Reclassification from other trade and other payables | 25 | |
(Released)/provided | 13 | 7 |
Utilised | (8) | (7) |
Other provisions, ending balance | $ 30 | $ 25 |
Provisions - Summary of Provi_2
Provisions - Summary of Provisions Analysed as Current and Non-Current (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [abstract] | |||
Current | $ 40 | $ 10 | $ 3 |
Non-current | 22 | 17 | 5 |
Provisions current and non-current | $ 62 | $ 27 | $ 8 |
Provisions - Additional Informa
Provisions - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of other provisions [abstract] | |||
Insurance revenue | $ 19 | $ 11 | $ 9 |
Claims expense | 18 | $ 10 | $ 9 |
Prior period potential exposure for individual insurance claims | 4 | ||
Potential exposure to aggregate insurance claims since 2011 | $ 25 |
Loans and Other Borrowings - Su
Loans and Other Borrowings - Summary of Loans and Other Borrowings (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | |||
Current | $ 87 | $ 104 | $ 110 |
Non-current | 2,078 | 1,910 | $ 1,678 |
Total | 2,165 | 2,014 | |
Unsecured bank loans [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current | 125 | ||
Total | 125 | ||
GBP400m 3.875% bonds 2022 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current | 528 | 509 | |
Total | 528 | 509 | |
GBP300m 3.75% bonds 2025 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current | 399 | 385 | |
Total | 399 | 385 | |
GBP350m 2.125% bonds 2026 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current | 462 | 447 | |
Total | 462 | 447 | |
EUR500m 2.125% bonds 2027 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current | 564 | 569 | |
Total | 564 | 569 | |
Bank Overdrafts [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Current | 87 | 104 | |
Total | 87 | 104 | |
Unsecured bank loans and bonds [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current | 2,078 | 1,910 | |
Total | 2,078 | 1,910 | |
Sterling [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Current | 2 | ||
Non-current | 1,389 | 1,341 | |
Total | 1,391 | 1,341 | |
US dollars [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Current | 82 | 94 | |
Non-current | 125 | ||
Total | 207 | 94 | |
Euros [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Current | 1 | 8 | |
Non-current | 564 | 569 | |
Total | 565 | 577 | |
Other currencies [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Current | 2 | 2 | |
Total | $ 2 | $ 2 |
Loans and Other Borrowings - _2
Loans and Other Borrowings - Summary of Loans and Other Borrowings (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2019EUR (€) | Dec. 31, 2019GBP (£) | |
GBP400m 3.875% bonds 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional amount | £ 400,000,000 | |
Bond interest rate | 3.875% | 3.875% |
Maturity date | 28 November 2022 | |
GBP300m 3.75% bonds 2025 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional amount | £ 300,000,000 | |
Bond interest rate | 3.75% | 3.75% |
Maturity date | 14 August 2025 | |
GBP350m 2.125% bonds 2026 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional amount | £ 350,000,000 | |
Bond interest rate | 2.125% | 2.125% |
Maturity date | 24 August 2026 | |
EUR500m 2.125% bonds 2027 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional amount | € | € 500,000,000 | |
Bond interest rate | 2.125% | 2.125% |
Maturity date | 15 May 2027 |
Loans and Other Borrowings - Ad
Loans and Other Borrowings - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about borrowings [line items] | ||
Facilities provided by banks | $ 1,404 | $ 1,403 |
variable interest rate [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 2.42% | |
Syndicated facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Maturity date | March 2022 | |
Facilities provided by banks | $ 1,275 | |
Bilateral Facility [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Maturity date | March 2022 | |
Facilities provided by banks | $ 75 | |
GBP400m 3.875% bonds 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Maturity date | 28 November 2022 | |
Interest rate | 3.875% | |
Bond initial price percentage of face value | 98.787% | |
Issued date | Nov. 28, 2012 | |
GBP300m 3.75% bonds 2025 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Maturity date | 14 August 2025 | |
Interest rate | 3.75% | |
Bond initial price percentage of face value | 99.014% | |
Issued date | Aug. 14, 2015 | |
GBP350m 2.125% bonds 2026 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Maturity date | 24 August 2026 | |
Interest rate | 2.125% | |
Bond initial price percentage of face value | 99.45% | |
Issued date | Aug. 24, 2016 | |
EUR500m 2.125% bonds 2027 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Maturity date | 15 May 2027 | |
Interest rate | 2.125% | |
Bond initial price percentage of face value | 99.53% | |
Issued date | Nov. 15, 2018 |
Loans and Other Borrowings - _3
Loans and Other Borrowings - Summary of Facilities Provided by Banks (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of facilities provided by banks [line items] | ||
Utilised facilities | $ 125 | |
Unutilised facilities provided by banks | 1,279 | $ 1,403 |
Total | 1,404 | 1,403 |
Committed [member] | ||
Disclosure of facilities provided by banks [line items] | ||
Utilised facilities | 125 | |
Unutilised facilities provided by banks | 1,225 | 1,350 |
Total | 1,350 | 1,350 |
Uncommitted [member] | ||
Disclosure of facilities provided by banks [line items] | ||
Unutilised facilities provided by banks | 54 | 53 |
Total | $ 54 | $ 53 |
Loans and Other Borrowings - _4
Loans and Other Borrowings - Summary of Unutilised Facilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of facilities provided by banks [line items] | ||
Unutilised facilities provided by banks | $ 1,279 | $ 1,403 |
Line of credit facility maximum borrowings capacity | 1,404 | 1,403 |
Due within one year [member] | ||
Disclosure of facilities provided by banks [line items] | ||
Unutilised facilities provided by banks | 54 | 53 |
After two but before five years [member] | ||
Disclosure of facilities provided by banks [line items] | ||
Unutilised facilities provided by banks | $ 1,350 | $ 1,350 |
Net Debt - Summary of Net Debt
Net Debt - Summary of Net Debt (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of net debt [abstract] | |||
Cash and cash equivalents | $ 195 | $ 704 | $ 168 |
Loans and other borrowings - current | (87) | (104) | (110) |
Loans and other borrowings - non-current | (2,078) | (1,910) | (1,678) |
Lease liabilities-current | (65) | (55) | (44) |
Lease liabilities-non current | (595) | (615) | (589) |
Lease liabilities-classified as held for sale (note 12) | (20) | ||
Derivative financial instruments hedging debt values | (15) | 15 | |
Net debt | $ (2,665) | $ (1,965) | $ (2,253) |
Net Debt - Summary of Movement
Net Debt - Summary of Movement in Net Debt (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Movement in net debt | |||
Net (decrease)/increase in cash and cash equivalents, net of overdrafts | $ (500) | $ 563 | $ (75) |
Add back cash flows in respect of other components of net debt: | |||
Principal element of lease payments | 59 | 35 | 25 |
Issue of long-term bonds, including effect of currency swaps | (554) | ||
Increase/(decrease) in other borrowings | (127) | 268 | (153) |
(Increase)/decrease in net debt arising from cash flows | (568) | 312 | |
Non-cash movements: | |||
Lease obligations | (43) | (27) | |
Increase in accrued interest | (7) | (3) | |
Acquisition of businesses (note 11) | (25) | (51) | |
Exchange and other adjustments | (57) | 57 | |
(Increase)/decrease in net debt | (700) | 288 | |
Net debt at beginning of the year | (1,965) | (2,253) | |
Net debt at end of the year | $ (2,665) | $ (1,965) | $ (2,253) |
Net Debt - Summary of Loans and
Net Debt - Summary of Loans and Other Borrowings and Currency Swaps, Excluding Bank Overdrafts (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | $ 2,573 | $ 2,311 |
Cash flows | 68 | 254 |
Exchange adjustment | 33 | (73) |
Acquisition of businesses | 25 | 51 |
Other | 79 | 30 |
Ending balance | 2,778 | 2,573 |
Lease liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 670 | 633 |
Cash flows | (59) | (35) |
Exchange adjustment | 1 | (6) |
Acquisition of businesses | 25 | 51 |
Other | 43 | 27 |
Ending balance | 680 | 670 |
Currency swaps [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | (7) | |
Cash flows | (2) | |
Other | 27 | (5) |
Ending balance | 20 | (7) |
Unsecured bank loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 262 | |
Cash flows | 127 | (268) |
Exchange adjustment | (2) | 3 |
Other | 0 | 3 |
Ending balance | 125 | |
GBP400m 3.875% bonds 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 509 | 538 |
Exchange adjustment | 18 | (30) |
Other | 1 | 1 |
Ending balance | 528 | 509 |
GBP300m 3.75% bonds 2025 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 385 | 406 |
Exchange adjustment | 13 | (23) |
Other | 1 | 2 |
Ending balance | 399 | 385 |
GBP350m 2.125% bonds 2026 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 447 | 472 |
Exchange adjustment | 15 | (26) |
Other | 0 | 1 |
Ending balance | 462 | 447 |
EUR500m 2.125% bonds 2027 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 569 | |
Cash flows | 559 | |
Exchange adjustment | (12) | 9 |
Other | 7 | 1 |
Ending balance | 564 | 569 |
Loans and other borrowings before currency swaps (excluding bank overdrafts) [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | 2,580 | 2,311 |
Cash flows | 68 | 256 |
Exchange adjustment | 33 | (73) |
Acquisition of businesses | 25 | 51 |
Other | 52 | 35 |
Ending balance | 2,758 | 2,580 |
Exchange of principal [member] | Currency swaps [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Beginning balance | $ (7) | |
Cash flows | (5) | |
Other | (2) | |
Ending balance | (7) | |
Initial fee received [member] | Currency swaps [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Cash flows | 3 | |
Other | $ (3) |
Financial risk management and_3
Financial risk management and derivative financial instruments - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2019EUR (€) | |
Disclosure of financial risk management [line items] | |||
Currency swaps deposits maturity period | 8 years 7 months 6 days | ||
Change in value of hedged item used as basis for recognising hedge ineffectiveness | $ (2) | $ (21) | |
Exchange element of currency swaps | (15) | 15 | |
Currency swaps [member] | |||
Disclosure of financial risk management [line items] | |||
Other fair value elements of currency swaps | (5) | (8) | |
Exchange element of currency swaps | (15) | 15 | |
Currency swaps [member] | Carrying Amounts [Member] | |||
Disclosure of financial risk management [line items] | |||
Gain (loss) on carrying amount | $ 20 | $ 7 | |
EUR500m 2.125% bonds 2027 [member] | |||
Disclosure of financial risk management [line items] | |||
Swaps held by Group | € | € 500,000,000 | ||
Currency swaps transaction percentage | 2.125% | 2.125% | |
Currency risk [member] | |||
Disclosure of financial risk management [line items] | |||
Average rate of hedging instrument | 3.50% | 3.50% | |
Currency risk [member] | Net investment hedges [member] | Forward contract [member] | |||
Disclosure of financial risk management [line items] | |||
Currency swaps borrowings | 100 | 100 | 100 |
Currency risk [member] | Cash flow hedges [member] | Currency swaps [member] | |||
Disclosure of financial risk management [line items] | |||
Change in fair value of hedging instrument used to calculate effectiveness | $ 30 | $ 9 | |
Currency risk [member] | Sterling [member] | Cash flow hedges [member] | Currency swaps [member] | |||
Disclosure of financial risk management [line items] | |||
Currency swaps borrowings | 436,000,000 | 436,000,000 | |
Currency risk [member] | Euros [member] | Cash flow hedges [member] | Currency swaps [member] | |||
Disclosure of financial risk management [line items] | |||
Currency swaps borrowings | 500,000,000 | 500,000,000 | |
Interest rate risk [member] | Fixed interest rate [member] | |||
Disclosure of financial risk management [line items] | |||
Description of fixed Interest rate borrowings | Group’s policy requires a minimum of 50% fixed rate debt over the next 12 months | ||
Fixed Interest rate borrowings | 94.00% | 100.00% | 94.00% |
Liquidity risk [member] | |||
Disclosure of financial risk management [line items] | |||
Funds held in foreign countries where repatriation is restricted | $ 16 | $ 2 | |
Number of financial covenants | two | ||
Capital risk management [member] | |||
Disclosure of financial risk management [line items] | |||
Amounts managed as capital | 1,192 | 826 |
Financial risk management and_4
Financial risk management and derivative financial instruments - Summary of Derivative Financial Instruments (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Derivative Financial Instruments [line items] | ||
Derivative financial instruments | $ 1 | $ 8 |
Non-current derivative financial assets | 7 | |
Current derivative financial assets | 1 | 1 |
Non-current liabilities | (20) | |
Hedging instruments [member] | ||
Disclosure Of Derivative Financial Instruments [line items] | ||
Derivative financial instruments | (19) | 8 |
Non-current Assets [member] | Hedging instruments [member] | ||
Disclosure Of Derivative Financial Instruments [line items] | ||
Non-current derivative financial assets | 7 | |
Current assets [member] | Hedging instruments [member] | ||
Disclosure Of Derivative Financial Instruments [line items] | ||
Current derivative financial assets | 1 | 1 |
Non-current liabilities [member] | Hedging instruments [member] | ||
Disclosure Of Derivative Financial Instruments [line items] | ||
Non-current liabilities | (20) | |
Short-dated foreign exchange swaps [Member] | Hedging instruments [member] | ||
Disclosure Of Derivative Financial Instruments [line items] | ||
Derivative financial instruments | 1 | 1 |
Currency swaps [member] | Hedging instruments [member] | ||
Disclosure Of Derivative Financial Instruments [line items] | ||
Derivative financial instruments | $ (20) | $ 7 |
Financial risk management and_5
Financial risk management and derivative financial instruments - Summary of Interest and Foreign Exchange Risk Sensitivities (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Impact on profit before tax [member] | Currency risk [member] | Sterling US dollar exchange rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | $ 4 | $ 4.1 | $ 4 |
Sensitivity to changes in exchange and interest rates | 4 | 4.1 | 4 |
Impact on profit before tax [member] | Currency risk [member] | Euro US dollar exchange rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | (2.6) | (2.4) | (2.1) |
Sensitivity to changes in exchange and interest rates | (2.6) | (2.4) | (2.1) |
Impact on profit before tax [member] | Interest rate risk [member] | US dollar interest rates [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | (1.6) | (0.9) | (2.9) |
Sensitivity to changes in exchange and interest rates | (1.6) | (0.9) | (2.9) |
Impact on profit before tax [member] | Interest rate risk [member] | Sterling interest rates [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | 0.6 | 5.5 | 0.3 |
Sensitivity to changes in exchange and interest rates | 0.6 | 5.5 | 0.3 |
Impact on net liabilities [member] | Currency risk [member] | Sterling US dollar exchange rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | 39.9 | 25.9 | 44.1 |
Sensitivity to changes in exchange and interest rates | 39.9 | 25.9 | 44.1 |
Impact on net liabilities [member] | Currency risk [member] | Euro US dollar exchange rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | 24.1 | 23.8 | (4.1) |
Sensitivity to changes in exchange and interest rates | 24.1 | 23.8 | $ (4.1) |
Impact on net liabilities [member] | Currency risk [member] | Sterling: Euro exchange rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Impact of 5 cent fall in exchange rate | 33 | 31.9 | |
Sensitivity to changes in exchange and interest rates | $ 33 | $ 31.9 |
Financial risk management and_6
Financial risk management and derivative financial instruments - Summary of Undiscounted Contractual Cash Flows of Financial Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Non-derivative financial liabilities: | ||
Lease liabilities | $ 3,857 | $ 3,891 |
Currency swaps hedging EUR500m 2.125% bonds 2027 outflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | 728 | 723 |
Currency swaps hedging EUR500m 2.125% bonds 2027 inflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (657) | (676) |
Forward contract [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (1) | (1) |
Deferred and contingent purchase consideration [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 162 | 314 |
Bank Overdrafts [member] | ||
Non-derivative financial liabilities: | ||
Borrowings | 87 | 104 |
GBP400m 3.875% bonds 2022 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 590 | 590 |
GBP300m 3.75% bonds 2025 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 486 | 483 |
GBP350m 2.125% bonds 2026 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 531 | 523 |
EUR500m 2.125% bonds 2027 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 657 | 676 |
Unsecured bank loans [member] | ||
Non-derivative financial liabilities: | ||
Borrowings | 125 | |
Trade Payables [Member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 570 | 610 |
Due within one year [member] | ||
Non-derivative financial liabilities: | ||
Lease liabilities | 97 | 93 |
Due within one year [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 outflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | 20 | 20 |
Due within one year [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 inflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (12) | (6) |
Due within one year [member] | Forward contract [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (1) | (1) |
Due within one year [member] | Deferred and contingent purchase consideration [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 3 | 7 |
Due within one year [member] | Bank Overdrafts [member] | ||
Non-derivative financial liabilities: | ||
Borrowings | 87 | 104 |
Due within one year [member] | GBP400m 3.875% bonds 2022 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 21 | 20 |
Due within one year [member] | GBP300m 3.75% bonds 2025 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 15 | 14 |
Due within one year [member] | GBP350m 2.125% bonds 2026 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 10 | 10 |
Due within one year [member] | EUR500m 2.125% bonds 2027 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 12 | 6 |
Due within one year [member] | Unsecured bank loans [member] | ||
Non-derivative financial liabilities: | ||
Borrowings | 125 | |
Due within one year [member] | Trade Payables [Member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 567 | 609 |
Between 1 and 2 years [member] | ||
Non-derivative financial liabilities: | ||
Lease liabilities | 116 | 93 |
Between 1 and 2 years [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 outflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | 20 | 20 |
Between 1 and 2 years [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 inflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (12) | (12) |
Between 1 and 2 years [member] | Deferred and contingent purchase consideration [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 20 | 8 |
Between 1 and 2 years [member] | GBP400m 3.875% bonds 2022 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 21 | 20 |
Between 1 and 2 years [member] | GBP300m 3.75% bonds 2025 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 15 | 14 |
Between 1 and 2 years [member] | GBP350m 2.125% bonds 2026 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 10 | 10 |
Between 1 and 2 years [member] | EUR500m 2.125% bonds 2027 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 12 | 12 |
Between 1 and 2 years [member] | Trade Payables [Member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 1 | |
After two but before five years [member] | ||
Non-derivative financial liabilities: | ||
Lease liabilities | 193 | 226 |
After two but before five years [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 outflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | 61 | 58 |
After two but before five years [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 inflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (36) | (37) |
After two but before five years [member] | Deferred and contingent purchase consideration [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 19 | 37 |
After two but before five years [member] | GBP400m 3.875% bonds 2022 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 548 | 550 |
After two but before five years [member] | GBP300m 3.75% bonds 2025 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 45 | 43 |
After two but before five years [member] | GBP350m 2.125% bonds 2026 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 29 | 28 |
After two but before five years [member] | EUR500m 2.125% bonds 2027 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 36 | 37 |
After two but before five years [member] | Trade Payables [Member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 1 | 1 |
More than 5 years [member] | ||
Non-derivative financial liabilities: | ||
Lease liabilities | 3,451 | 3,479 |
More than 5 years [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 outflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | 627 | 625 |
More than 5 years [member] | Currency swaps hedging EUR500m 2.125% bonds 2027 inflows [member] | ||
Derivative financial liabilities: | ||
Currency swaps hedging €500m 2.125% bonds 2027 inflows | (597) | (621) |
More than 5 years [member] | Deferred and contingent purchase consideration [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 120 | 262 |
More than 5 years [member] | GBP300m 3.75% bonds 2025 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 411 | 412 |
More than 5 years [member] | GBP350m 2.125% bonds 2026 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 482 | 475 |
More than 5 years [member] | EUR500m 2.125% bonds 2027 [member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | 597 | $ 621 |
More than 5 years [member] | Trade Payables [Member] | ||
Non-derivative financial liabilities: | ||
Non-derivative financial liabilities | $ 1 |
Classification and measuremen_3
Classification and measurement of financial instruments - Summary of Carrying Amounts and Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | $ (111) | $ (109) |
Financial liabilities at fair value through profit or loss, category [member] | Contingent purchase consideration [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | (91) | (109) |
Financial liabilities at amortised cost, category [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | (2,758) | (2,646) |
Financial liabilities at amortised cost, category [member] | 'Long-term borrowings [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | (2,165) | (2,014) |
Financial liabilities at amortised cost, category [member] | Deferred purchase consideration [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | (23) | (22) |
Financial liabilities at amortised cost, category [member] | Trade and other payables, excluding deferred and contingent purchase consideration [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | (570) | (610) |
Cash and cash equivalent [Member] | Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35 | 76 |
Derivative financial instruments [Member] | Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Liabilities | (20) | |
Money market fund [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 51 | 92 |
Financial assets measured at fair value through other comprehensive income [Member] | Equity securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 133 | 116 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 55 | 100 |
Financial assets at fair value through profit or loss, category [member] | Other Financial Asset [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 16 | 16 |
Financial assets at fair value through profit or loss, category [member] | Derivative financial instruments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1 | 8 |
Financial assets at fair value through profit or loss, category [member] | Money market fund [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3 | |
Financial assets at amortised cost, category [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 848 | 1,259 |
Financial assets at amortised cost, category [member] | Cash and cash equivalent [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 160 | 628 |
Financial assets at amortised cost, category [member] | Other Financial Asset [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 136 | 129 |
Financial assets at amortised cost, category [member] | Trade and other receivables, excluding prepayments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | $ 552 | $ 502 |
Classification and measuremen_4
Classification and measurement of financial instruments - Summary of Fair Value Measurement Hierarchy of Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Derivative financial instruments | $ 1 | $ 8 |
Liabilities | ||
Derivative financial instruments | (20) | |
Contingent purchase consideration | (91) | (109) |
Deferred purchase consideration | (23) | (22) |
Loans and other borrowings | (2,165) | (2,014) |
Deferred purchase consideration [member] | ||
Liabilities | ||
Deferred purchase consideration | (23) | (22) |
Money Market Fund [Member] | ||
Assets | ||
Financial assets | 51 | 92 |
Quoted equity shares [member] | ||
Assets | ||
Equity securities | 133 | 116 |
Financial assets at fair value through profit or loss, category [member] | ||
Assets | ||
Financial assets | 55 | 100 |
Financial assets at fair value through profit or loss, category [member] | Money Market Fund [Member] | ||
Assets | ||
Financial assets | 3 | |
Financial assets at fair value through profit or loss, category [member] | Trade deposits and loans [member] | ||
Assets | ||
Financial assets | 3 | |
GBP400m 3.875% bonds 2022 [member] | ||
Liabilities | ||
Loans and other borrowings | (528) | (509) |
GBP300m 3.75% bonds 2025 [member] | ||
Liabilities | ||
Loans and other borrowings | (399) | (385) |
GBP350m 2.125% bonds 2026 [member] | ||
Liabilities | ||
Loans and other borrowings | (462) | (447) |
EUR500m 2.125% bonds 2027 [member] | ||
Liabilities | ||
Loans and other borrowings | (564) | (569) |
Fair value [member] | ||
Liabilities | ||
Derivative financial instruments | (20) | |
Contingent purchase consideration | (91) | (109) |
Deferred purchase consideration | (24) | (22) |
Fair value [member] | Money Market Fund [Member] | ||
Assets | ||
Financial assets | 51 | 92 |
Fair value [member] | Trade deposits and loans [member] | ||
Assets | ||
Financial assets | 3 | |
Fair value [member] | Derivative financial assets [member] | ||
Assets | ||
Derivative financial instruments | 1 | 8 |
Fair value [member] | Quoted equity shares [member] | ||
Assets | ||
Equity securities | 133 | 116 |
Fair value [member] | GBP400m 3.875% bonds 2022 [member] | ||
Liabilities | ||
Loans and other borrowings | (567) | (543) |
Fair value [member] | GBP300m 3.75% bonds 2025 [member] | ||
Liabilities | ||
Loans and other borrowings | (435) | (399) |
Fair value [member] | GBP350m 2.125% bonds 2026 [member] | ||
Liabilities | ||
Loans and other borrowings | (465) | (417) |
Fair value [member] | EUR500m 2.125% bonds 2027 [member] | ||
Liabilities | ||
Loans and other borrowings | (601) | (566) |
Level 1 [member] | Fair value [member] | ||
Liabilities | ||
Deferred purchase consideration | (24) | (22) |
Level 1 [member] | Fair value [member] | Money Market Fund [Member] | ||
Assets | ||
Financial assets | 51 | 92 |
Level 1 [member] | Fair value [member] | Quoted equity shares [member] | ||
Assets | ||
Equity securities | 8 | 8 |
Level 1 [member] | Fair value [member] | GBP400m 3.875% bonds 2022 [member] | ||
Liabilities | ||
Loans and other borrowings | (567) | (543) |
Level 1 [member] | Fair value [member] | GBP300m 3.75% bonds 2025 [member] | ||
Liabilities | ||
Loans and other borrowings | (435) | (399) |
Level 1 [member] | Fair value [member] | GBP350m 2.125% bonds 2026 [member] | ||
Liabilities | ||
Loans and other borrowings | (465) | (417) |
Level 1 [member] | Fair value [member] | EUR500m 2.125% bonds 2027 [member] | ||
Liabilities | ||
Loans and other borrowings | (601) | (566) |
Level 2 [member] | Fair value [member] | ||
Liabilities | ||
Derivative financial instruments | (20) | |
Level 2 [member] | Fair value [member] | Quoted equity shares [member] | ||
Assets | ||
Derivative financial instruments | 1 | 8 |
Level 3 [member] | Trade deposits and loans [member] | ||
Assets | ||
Financial assets | 3 | |
Level 3 [member] | Fair value [member] | ||
Liabilities | ||
Contingent purchase consideration | (91) | (109) |
Level 3 [member] | Fair value [member] | Quoted equity shares [member] | ||
Assets | ||
Equity securities | $ 125 | $ 108 |
Classification and measuremen_5
Classification and measurement of financial instruments - Additional Information (Detail) $ in Millions | Jul. 25, 2018USD ($) | Jul. 01, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Fair value losses on contingent purchase consideration | $ 38 | |||
Cash consideration | $ 299 | $ 22 | ||
Contingent purchase consideration | $ 90 | 102 | ||
Regent [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Beneficial interest | 49.00% | 49.00% | ||
Description of payment of stock option exercised | At 31 December 2019, it is assumed that $39m will be paid in 2026 to acquire an additional 25% of RHW with the remaining 24% acquired in 2028 for $42m. This assumes that the options will be exercised at the earliest permissible date which is consistent with the assumption made on acquisition. The amount recognised in the financial statements is the discounted value of the total expected amount payable of $81m. The discount rate applied is based on observable US corporate bond rates of similar term to the expected payment dates. | |||
Cash consideration | $ 13 | |||
Contingent Consideration change description | The significant unobservable inputs used to determine the fair value of the contingent purchase consideration are the projected trailing revenues of RHW and the date of exercising the options. If the annual trailing revenue of RHW were to exceed the floor by 10%, the amount of the contingent purchase consideration recognised in the financial statements would increase by $7m (2018: $5m). If the date for exercising the options is assumed to be 2033, the amount of the undiscounted contingent purchase consideration would be $86m (2018: $86m). | |||
Contingent purchase consideration | $ 66 | 55 | ||
Regent [member] | Bottom of range [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Disclosure of significant unobservable inputs used in fair value measurement of liabilities | 81 | |||
Regent [member] | Top of range [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Disclosure of significant unobservable inputs used in fair value measurement of liabilities | 261 | |||
UK Portfolio [Member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Contingent purchase consideration | 20 | 54 | ||
Six Senses [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Contingent purchase consideration | 5 | 0 | ||
Payable 2021 [member] | Regent [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Liabilities incurred | 13 | |||
Payable 2024 [member] | Regent [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Liabilities incurred | 13 | |||
Payment due in 2026 [member] | Regent [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Cash consideration | $ 39 | |||
Payment due in 2026 [member] | Regent [member] | Regent Hospitality Worldwide Inc [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Percentage to be acquired on exercise | 25.00% | |||
Cash consideration years | 2026 | |||
Payment due in 2028 [member] | Regent [member] | Regent Hospitality Worldwide Inc [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Cash consideration | $ 42 | |||
Percentage to be acquired on exercise | 24.00% | |||
Cash consideration years | 2028 | |||
Discount rate, measurement input [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Discount Rate For Forecast Base Rentals | 9.25% | |||
Discount rate, measurement input [member] | Contingent consideration [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Percentage of possible increase in unobservable input, liabilities | 1.00% | |||
Percentage of possible decrease in unobservable input, liabilities | 1.00% | |||
Annual trailing revenue exceeding the floor [Member] | Regent [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Sensitivity analysis annual trailing revenue exceeding the floor | 10.00% | |||
Increase (decrease) in contingent consideration | $ 7 | 5 | ||
Exercising the options in 2033 [Member] | Regent [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Date for exercising the options | 2033 | |||
Contingent purchase consideration | $ 86 | 86 | ||
Weighted average cost of capital, measurement input [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Discount Rate For Forecast Base Rentals | 9.70% | |||
Unquoted equity investments [member] | Non Marketability Factor [Member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Increase or (decrease) in fair value due to possible decrease in unobservable input, assets | $ 2 | 1 | ||
Percentage point increase decrease in non marketability | 5.00% | |||
Unquoted equity investments [member] | Share of net assets [member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Percentage of possible increase in unobservable input, assets | 10.00% | |||
Percentage of possible decrease in unobservable input, assets | 10.00% | |||
Increase or (decrease) in fair value due to possible decrease in unobservable input, assets | $ 9 | $ 8 | ||
Unquoted equity investments [member] | Revenue multple, measurement input [Member] | ||||
Disclosure of fair value measurement of assets and liabilities [line items] | ||||
Average price earnings ratio for a competitor group | 23.2 | 19.9 | ||
Non-marketability factor | 30.00% | 30.00% | ||
Percentage of possible increase in unobservable input, assets | 10.00% | |||
Percentage of possible decrease in unobservable input, assets | 10.00% | |||
Increase or (decrease) in fair value due to possible decrease in unobservable input, assets | $ 2 | $ 2 |
Classification and measuremen_6
Classification and measurement of financial instruments - Summary of Reconciliation of Movements in the Fair Values of Financial Instruments Classified as Level 3 (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of fair value measurement of assets and liabilities [line items] | ||
At 1 January | $ 4,092 | $ 3,322 |
At 31 December | 3,976 | 4,092 |
Included in net cash from operating activities | 6 | |
Included in net cash from investing activities | 2 | 4 |
Change in fair value | 27 | (4) |
At 31 December | (5,441) | (5,223) |
Level 3 [member] | Equity securities [member] | ||
Disclosure of fair value measurement of assets and liabilities [line items] | ||
At 1 January | 108 | 117 |
Additions | 8 | 4 |
Acquisition of businesses | 1 | |
Disposals | (1) | (1) |
Valuation losses recognised in other comprehensive income | 12 | (10) |
Exchange and other adjustments | 0 | (2) |
At 31 December | 128 | 108 |
Level 3 [member] | Contingent purchase consideration [Member] | ||
Disclosure of fair value measurement of assets and liabilities [line items] | ||
Additions | 0 | |
Acquisition of businesses | (15) | (109) |
Disposals | 0 | |
Contingent purchase consideration paid, included in net cash from investing activities | 4 | |
Included in net cash from operating activities | 6 | |
Included in net cash from investing activities | 2 | |
Change in fair value | 27 | (4) |
Exchange and other adjustments | (2) | 0 |
At 31 December | $ (91) | $ (109) |
Classification and measuremen_7
Classification and measurement of financial instruments - Summary of Reconciliation of Movements in the Fair Values of Financial Instruments Classified as Level 3 (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of fair value measurement of assets and liabilities [line items] | ||
Change in fair value | $ 27 | $ (4) |
Exceptional Items [member] | ||
Disclosure of fair value measurement of assets and liabilities [line items] | ||
Change in fair value | $ 38 |
Reconciliation of profit for _3
Reconciliation of profit for the year to cash flow from operations - Summary of Reconciliation of Profit for the Year to Cash Flow From Operations Before Contract Acquisition Costs (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of profit or loss to net cash flows from operating activities [abstract] | |||
Profit for the year | $ 386 | $ 350 | $ 535 |
Adjustments for: | |||
Net financial expenses | 115 | 96 | 91 |
Fair value (gains)/losses on contingent purchase consideration | (27) | 4 | |
Income tax charge | 156 | 132 | 118 |
Depreciation and amortisation | 116 | 115 | 112 |
System Fund depreciation and amortisation | 54 | 49 | 41 |
Impairment charges | 131 | 18 | |
Other operating exceptional items (including System Fund) | 83 | 151 | (13) |
Share-based payments cost | 42 | 38 | 27 |
Dividends from associates and joint ventures | 7 | 5 | 4 |
Increase in trade and other receivables | (50) | (43) | (71) |
Increase in contract costs | (11) | (3) | (5) |
Increase in deferred revenue | 57 | 141 | 43 |
(Decrease)/increase in other trade and other payables | (63) | 11 | 38 |
Utilisation of provisions, net of charge | 7 | (6) | |
Retirement benefit contributions, net of costs | (3) | (12) | (1) |
Cash flows relating to exceptional items | (55) | (137) | (44) |
Contract assets deduction in revenue | 21 | 19 | 17 |
Other items | 2 | 4 | (4) |
Total adjustments | 582 | 564 | 371 |
Cash flow from operations before contract acquisition costs | $ 968 | $ 914 | $ 906 |
Retirement benefits - Additiona
Retirement benefits - Additional Information (Detail) £ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)yr | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019GBP (£)yr | |
Disclosure of defined benefit plans [line items] | ||||
Bank accounts pledged as security | £ | £ 31 | |||
Expected company payments | $ 6 | |||
Net defined liability | $ 101 | |||
Assets of benefit plan | 3 | |||
Non-current net defined benefit liability | 96 | $ 91 | 104 | |
Remeasurement gain and loss in other comprehensive income | (6) | 8 | (4) | |
Assets restriction of benefit plan | 3 | |||
Banner Life Insurance Company [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Purchase of annuity insurance | $ 124 | |||
Actuarial assumption of expected rates of mortality [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Mortality - per annum long term trend | 1.25% | |||
Description of mortality assumptions | 1.25 | |||
One year increase in mortality rates [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Accumulated post-employment benefit obligations | $ 4.2 | 3.9 | 10.5 | |
Inter-Continental hotels pension plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contribution transferred | 20 | |||
Funding contribution refund | 1.5 | |||
Inter-Continental hotels pension plan [member] | Pension Benefit Guaranty Corporation [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contribution transferred | 6 | |||
Retirement benefit assets [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Funding contribution | $ 12 | |||
Other Overseas Pension Plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Description of retirement benefit plan | The Group also operates a number of smaller pension schemes outside the UK, the most significant of which is a defined contribution scheme in the US; there is no material difference between the pension costs of, and contributions to, these schemes. | |||
Increase/ (decrease) In liabilities [member] | Healthcare costs trend rate [Member] | 1% point increase [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Accumulated post-employment benefit obligations | $ 1.6 | 1.6 | 1.8 | |
Increase/ (decrease) In liabilities [member] | Healthcare costs trend rate [Member] | 1% point decrease [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Accumulated post-employment benefit obligations | $ 1.7 | $ 1.7 | $ 1.9 | |
Pensioners male [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Actuarial assumption of mortality rates | yr | 0.7 | 0.7 | ||
Pensioners female [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Actuarial assumption of mortality rates | yr | 2.3 | 2.3 | ||
Non-pensioners male [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Actuarial assumption of mortality rates | yr | 0.5 | 0.5 | ||
Non-pensioners female [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Actuarial assumption of mortality rates | yr | 2.6 | 2.6 | ||
United Kingdom [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Description of retirement benefit plan | Since 6 August 2014, UK retirement and death in service benefits are provided for eligible employees by the IHG UK Defined Contribution Pension Plan. Members, including those who have been auto-enrolled since 1 September 2013, are provided with defined contribution arrangements under this plan; benefits are based on each individual member’s personal account. The plan is HM Revenue and Customs registered and governed by an independent trustee, assisted by professional advisers as and when required. The overall operation of the plan is subject to the oversight of The Pensions Regulator.Residual defined benefit obligations remain in respect of additional benefits provided to members of an unfunded pension arrangement who were affected by lifetime or annual allowances under the former defined benefit arrangements. Accrual under this arrangement ceased with effect from 1 July 2013 and a cash-out offer in 2014 resulted in the extinguishment of approximately 70% of the unfunded pension obligations. The Company meets the benefit payment obligations of the remaining members as they fall due. A charge over certain ring-fenced bank accounts totalling £00m at 31 December 2019 (see note [16]) is currently held as security on behalf of the remaining members. | |||
Explanation of changes in description of retirement benefit plan | The former defined benefit plan, the InterContinental Hotels UK Pension Plan, was wound up on 21 July 2015 following the completion of the buy-out and transfer of the defined benefit obligations to Rothesay Life on 31 October 2014. | |||
Approximate extinguishment of the unfunded pension obligations | 70.00% | |||
Bank accounts pledged as security | £ | £ 41 |
Retirement benefits - Defined B
Retirement benefits - Defined Benefit Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement [Line Items] | |||
At 1 January | $ 101 | ||
At 31 December | $ 101 | ||
Post-retirement Plans [member] | |||
Statement [Line Items] | |||
At 1 January | $ 22 | 24 | |
At 31 December | 22 | 22 | 24 |
United Kingdom [member] | Unfunded Plans [member] | |||
Statement [Line Items] | |||
At 1 January | 24 | 29 | |
At 31 December | 26 | 24 | 29 |
United Kingdom [member] | Funded Plans [member] | |||
Statement [Line Items] | |||
At 1 January | (152) | ||
At 31 December | (152) | ||
United States [member] | Unfunded Plans [member] | |||
Statement [Line Items] | |||
At 1 January | 45 | 51 | |
At 31 December | 48 | 45 | 51 |
Defined benefit obligation | |||
Statement [Line Items] | |||
At 1 January | 91 | 250 | 244 |
Interest expense/(income) | 3 | 6 | 9 |
Settlement loss including transaction costs | 14 | ||
Total | 3 | 20 | 9 |
Demographic assumptions | (1) | (1) | |
Financial assumptions | 9 | (14) | 9 |
Experience adjustments | (1) | (3) | 2 |
Re-measurement loss/(gain) | 7 | (17) | 10 |
Exchange adjustments | 1 | (1) | 2 |
Total | 8 | (18) | 12 |
Benefits paid | (6) | (11) | (15) |
Settlement payments | (150) | ||
Total | (6) | (161) | (15) |
Total | 96 | 91 | 250 |
At 31 December | 96 | 91 | 250 |
Defined benefit obligation | United States [member] | Funded Plans [member] | |||
Statement [Line Items] | |||
At 1 January | 146 | ||
At 31 December | 146 | ||
Fair value of plan assets | |||
Statement [Line Items] | |||
At 1 January | (152) | (148) | |
Interest expense/(income) | (2) | (5) | |
Administration costs | 1 | ||
Settlement loss including transaction costs | 1 | ||
Total | (1) | (4) | |
Return on plan assets | 8 | (9) | |
Re-measurement loss/(gain) | 8 | (9) | |
Total | 8 | (9) | |
Company contributions | (6) | (16) | (6) |
Benefits paid | 6 | 11 | 15 |
Settlement payments | 150 | ||
Total | 145 | 9 | |
Total | (152) | ||
At 31 December | (152) | ||
Net defined benefit liability (asset) [member] | |||
Statement [Line Items] | |||
At 1 January | 91 | 98 | 96 |
Interest expense/(income) | 3 | 4 | 4 |
Administration costs | 1 | ||
Settlement loss including transaction costs | 15 | ||
Total | 3 | 19 | 5 |
Demographic assumptions | (1) | (1) | |
Financial assumptions | 9 | (14) | 9 |
Experience adjustments | (1) | (3) | 2 |
Return on plan assets | 8 | (9) | |
Re-measurement loss/(gain) | 7 | (9) | 1 |
Exchange adjustments | 1 | (1) | 2 |
Total | 8 | (10) | 3 |
Company contributions | (6) | (16) | (6) |
Total | (6) | (16) | (6) |
Total | 96 | 91 | 98 |
At 31 December | $ 96 | 91 | 98 |
Net defined benefit liability (asset) [member] | United States [member] | Funded Plans [member] | |||
Statement [Line Items] | |||
At 1 January | (6) | ||
At 31 December | (6) | ||
Movement in asset restriction | |||
Statement [Line Items] | |||
At 1 January | 3 | ||
Recognised in other comprehensive income | $ (3) | 3 | |
At 31 December | $ 3 |
Retirement benefits - Summary o
Retirement benefits - Summary of Principal Financial Assumptions Used to Determine Benefit Obligations (Detail) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
United Kingdom [member] | |||
Disclosure of defined benefit plan actuarial assumptions [line items] | |||
Pension increases | 2.70% | 3.20% | 3.20% |
Discount rate | 2.10% | 3.00% | 2.60% |
Inflation rate | 2.70% | 3.20% | 3.20% |
United States [member] | |||
Disclosure of defined benefit plan actuarial assumptions [line items] | |||
Discount rate | 2.90% | 3.90% | 3.30% |
Ultimate rate that the cost trend rate trends to | 4.50% | 4.50% | 4.50% |
United States [member] | Pre 65 [member] | |||
Disclosure of defined benefit plan actuarial assumptions [line items] | |||
Healthcare cost trend rate | 6.70% | 7.10% | 7.70% |
United States [member] | Post 65 [member] | |||
Disclosure of defined benefit plan actuarial assumptions [line items] | |||
Healthcare cost trend rate | 7.10% | 7.60% | 8.70% |
US post-retirement plan | |||
Disclosure of defined benefit plan actuarial assumptions [line items] | |||
Discount rate | 2.90% | 4.00% | 3.30% |
Retirement benefits - Defined_2
Retirement benefits - Defined Benefit Plans - Life Expectancy Assumptions at Retirement Age (Detail) - Plan [member] - yr | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
United Kingdom [member] | |||
Disclosure Of Forecast Life Expectancies [line items] | |||
Current pensioners at 65 - male | 24 | 24 | 24 |
Current pensioners at 65 - female | 26 | 26 | 26 |
Future pensioners at 65 - male | 25 | 25 | 25 |
Future pensioners at 65 - female | 28 | 28 | 28 |
United States [member] | |||
Disclosure Of Forecast Life Expectancies [line items] | |||
Current pensioners at 65 - male | 21 | 21 | 21 |
Current pensioners at 65 - female | 23 | 23 | 23 |
Future pensioners at 65 - male | 22 | 22 | 22 |
Future pensioners at 65 - female | 24 | 24 | 24 |
Retirement benefits - Summary_2
Retirement benefits - Summary of Estimated Future Benefit Payments (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of net defined benefit liability/asset [line items] | ||
Estimated future benefit payments | $ 64 | $ 66 |
Due within one year [member] | ||
Disclosure of net defined benefit liability/asset [line items] | ||
Estimated future benefit payments | 6 | 5 |
Between one and five years [member] | ||
Disclosure of net defined benefit liability/asset [line items] | ||
Estimated future benefit payments | 22 | 23 |
More than 5 years [member] | ||
Disclosure of net defined benefit liability/asset [line items] | ||
Estimated future benefit payments | $ 36 | $ 38 |
Plan [member] | United Kingdom [member] | ||
Disclosure of net defined benefit liability/asset [line items] | ||
Average duration of obligation (years) | 18 years | 19 years 6 months |
Plan [member] | United States [member] | ||
Disclosure of net defined benefit liability/asset [line items] | ||
Average duration of obligation (years) | 9 years 3 months 18 days | 9 years 2 months 12 days |
US post-retirement plan | ||
Disclosure of net defined benefit liability/asset [line items] | ||
Average duration of obligation (years) | 9 years 9 months 18 days | 9 years 7 months 6 days |
Share-based payments - Addition
Share-based payments - Additional Information (Detail) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019USD ($)awardshares | Dec. 31, 2019£ / shares | Dec. 31, 2018USD ($)awardshares | Dec. 31, 2018£ / shares | Dec. 31, 2017USD ($)awardshares | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Share based payment cost | $ | $ 28 | $ 27 | $ 21 | ||
Weighted average share price at exercise date | £ / shares | £ 45.848 | £ 45.838 | |||
Share based payment cash-settled | $ | 2 | 0 | 0 | ||
System Fund [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Share based payment cost | $ | 12 | 11 | 6 | ||
Administrative expenses [member] | Exceptional items [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Share based payment cost | $ | $ 1 | $ 1 | $ 2 | ||
Maximum [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
IHG share price | £ / shares | 57.38 | ||||
Minimum [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
IHG share price | £ / shares | 40.92 | ||||
Closing [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
IHG share price | £ / shares | £ 52.08 | ||||
Annual Performance Plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Number of shares awarded to employees | award | 217,000 | 176,000 | 235,000 | ||
Annual Performance Plan one-off awards | shares | 86,126 | 48,771 | 79,471 | ||
Long Term Incentive Plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Number of shares awarded to employees | award | 826,313 | 784,119 | 805,045 | ||
Vesting period of share awards | 3 years | ||||
LTIP Restricted stock units [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Number of shares awarded to employees | award | 540,000 | 527,000 | 525,000 | ||
LTIP Performance-related awards [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||
Number of shares awarded to employees | award | 287,000 | 257,000 | 280,000 |
Share-based payments - Summary
Share-based payments - Summary of Information about Awards Granted (Detail) | 12 Months Ended | ||
Dec. 31, 2019yr£ / shares | Dec. 31, 2018yr£ / shares | Dec. 31, 2017yr£ / shares | |
Annual Performance Plan [member] | |||
Information regarding option pricing models and assumptions used for grants during the year [line items] | |||
Weighted average share price | £ / shares | £ 45.97 | £ 45.45 | £ 37.81 |
Term (years) | yr | 3 | 3 | 3 |
Long Term Incentive Plan [member] | |||
Information regarding option pricing models and assumptions used for grants during the year [line items] | |||
Weighted average share price | £ / shares | £ 48.50 | £ 47.74 | £ 43 |
Expected dividend yield | 2.16% | 2.27% | 2.05% |
Risk-free interest rate | 0.72% | 0.84% | 0.10% |
Volatility | 19.00% | 25.00% | 24.00% |
Term (years) | yr | 3 | 3 | 3 |
Share-based payments - Summar_2
Share-based payments - Summary of Information about Awards Granted (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Annual Performance Plan [member] | |||
Information regarding option pricing models and assumptions used for grants during the year [line items] | |||
Description of option pricing model | Binomial valuation model | Binomial valuation model | Binomial valuation model |
Long Term Incentive Plan [member] | |||
Information regarding option pricing models and assumptions used for grants during the year [line items] | |||
Description of option pricing model | Monte Carlo Simulation and Binomial valuation model | Monte Carlo Simulation and Binomial valuation model | Monte Carlo Simulation and Binomial valuation model |
Share-based payments - Summar_3
Share-based payments - Summary of Movements in Awards Outstanding Under the Schemes (Detail) award in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)award | Dec. 31, 2018USD ($)award | Dec. 31, 2017USD ($)award | |
Annual Performance Plan [member] | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Beginning balance | 591 | 616 | 685 |
Granted | 217 | 176 | 235 |
Vested | (276) | (199) | (263) |
Share capital consolidation | (21) | (21) | |
Lapsed or cancelled | (15) | (2) | (20) |
Ending balance | 496 | 591 | 616 |
Fair value of awards granted during the year | $ | $ 58.887 | $ 60.6621 | $ 49.593 |
Weighted average remaining contract life (years) | 1 year 1 month 6 days | 1 year | 1 year 2 months 12 days |
LTIP Performance-related awards [member] | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Beginning balance | 1,088 | 2,393 | 4,201 |
Granted | 287 | 257 | 280 |
Vested | (293) | (702) | (928) |
Lapsed or cancelled | (387) | (860) | (1,160) |
Ending balance | 695 | 1,088 | 2,393 |
Fair value of awards granted during the year | $ | $ 49.856 | $ 47.4867 | $ 41.332 |
Weighted average remaining contract life (years) | 1 year 3 months 18 days | 9 months 18 days | 7 months 6 days |
LTIP Restricted stock units [member] | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Beginning balance | 1,301 | 916 | 449 |
Granted | 540 | 527 | 525 |
Vested | (422) | ||
Lapsed or cancelled | (144) | (142) | (58) |
Ending balance | 1,275 | 1,301 | 916 |
Fair value of awards granted during the year | $ | $ 58.621 | $ 59.6597 | $ 52.510 |
Weighted average remaining contract life (years) | 1 year 2 months 12 days | 1 year 2 months 12 days | 1 year 8 months 12 days |
Equity - Summary of Equity Shar
Equity - Summary of Equity Share Capital (Detail) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of classes of share capital [line items] | |||
Number of shares beginning balance | 197 | 197 | 206 |
Beginning balance | $ (1,131) | $ (1,354) | $ (1,191) |
Share capital consolidation | (10) | (9) | |
Number of shares ending balance | 187 | 197 | 197 |
Ending balance | $ (1,465) | $ (1,131) | $ (1,354) |
Equity share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning balance | 146 | 154 | 141 |
Exchange adjustments | 5 | (8) | 13 |
Ending balance | 151 | 146 | 154 |
Share premium [Member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning balance | 96 | 101 | 93 |
Exchange adjustments | 3 | (5) | 8 |
Ending balance | 99 | 96 | 101 |
Nominal value [Member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning balance | 50 | 53 | 48 |
Exchange adjustments | 2 | (3) | 5 |
Ending balance | $ 52 | $ 50 | $ 53 |
Equity - Summary of Equity Sh_2
Equity - Summary of Equity Share Capital (Parenthetical) (Detail) - £ / shares | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Ordinary shares [Member] | Equity share capital [member] | ||||
Disclosure of classes of share capital [line items] | ||||
Nominal value per share | £ 0.20852 | £ 0.19810 | £ 0.19810 | £ 0.18967 |
Equity - Additional Information
Equity - Additional Information (Detail) € in Millions, $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2019EUR (€)shares | Jan. 14, 2019£ / sharesshares | Oct. 31, 2018USD ($) | May 08, 2017£ / sharesshares | Feb. 21, 2017USD ($) | May 09, 2016£ / shares | |
Disclosure of reserves within equity [line items] | |||||||||
Authorised share capital | shares | 0 | ||||||||
Total return of funds announced to shareholders | $ 500 | $ 400 | |||||||
Share consolidation basis - number of new ordinary shares | shares | 19 | 45 | |||||||
Share consolidation basis - nominal value per share of new ordinary shares | £ / shares | £ 0.20852 | £ 0.19810 | £ 0.18967 | ||||||
Share consolidation basis - number of existing ordinary shares | shares | 20 | 47 | |||||||
Share consolidation basis - nominal value per share of existing ordinary shares | £ / shares | £ 0.19810 | £ 0.18967 | £ 0.15805 | ||||||
Special dividend paid | $ 510 | $ 404 | |||||||
Reclassified from OCI to profit or loss - included in financial expenses | $ (38) | $ 8 | $ 0 | ||||||
Consolidation of Shares | shares | 10,000,000 | 9,000,000 | |||||||
Currency Translation Reserve [Member] | |||||||||
Disclosure of reserves within equity [line items] | |||||||||
Fair value of derivative instruments designated as hedges | $ 1 | $ 1 | $ 0 | ||||||
Treasury shares [member] | |||||||||
Disclosure of reserves within equity [line items] | |||||||||
Treasury shares transferred to employee share trusts | shares | 800,000 | 800,000 | 900,000 | 800,000 | |||||
Reduction in number of Treasury Shares due to share consolidation | shares | 300,000 | 400,000 | |||||||
Number of treasury shares held | shares | 5,700,000 | 6,800,000 | 7,600,000 | 5,700,000 | |||||
Treasury shares held, nominal value | $ 1.6 | $ 1.7 | $ 2 | ||||||
Cash flow hedging reserve [member] | |||||||||
Disclosure of reserves within equity [line items] | |||||||||
Reclassified from OCI to profit or loss - included in financial expenses | (38) | 8 | |||||||
EUR500m 2.125% bonds [member] | Cash flow hedging reserve [member] | |||||||||
Disclosure of reserves within equity [line items] | |||||||||
Reclassified from OCI to profit or loss - included in financial expenses | 8 | 1 | |||||||
Change in fair value of currency swaps recognised in OCI | 30 | 9 | |||||||
Notional amount | € | € 500 | ||||||||
Shares held by employee share trusts [member] | |||||||||
Disclosure of reserves within equity [line items] | |||||||||
Carrying value of shares held | $ 4.9 | $ 3.6 | $ 5.4 | ||||||
Number of shares held | shares | 100,000 | 200,000 | 200,000 | ||||||
Market value of shares held | $ 9.6 | $ 8.3 | $ 12.1 |
Equity share capital - Summary
Equity share capital - Summary of Cash Flow Hedging Reserve (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about hedged items [line items] | |||
Costs of hedging deferred and recognised in OCI | $ (6) | $ (1) | $ 0 |
Reclassified from OCI to profit or loss - included in financial expenses | 38 | (8) | 0 |
Deferred tax | 0 | (1) | |
Cash flow hedging reserve [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Reserve Of Cash flow Hedges Beginning Balance | (4) | 0 | |
Costs of hedging deferred and recognised in OCI | (6) | (1) | |
Change in fair value of currency swaps recognised in OCI | (34) | 4 | |
Reclassified from OCI to profit or loss - included in financial expenses | 38 | (8) | |
Deferred tax | 1 | ||
Reserve Of Cash flow Hedges Ending Balance | (6) | (4) | 0 |
Cash flow hedging reserve [member] | Value of currency swaps [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Reserve Of Cash flow Hedges Beginning Balance | (3) | 0 | |
Costs of hedging deferred and recognised in OCI | 0 | 0 | |
Change in fair value of currency swaps recognised in OCI | (34) | 4 | |
Reclassified from OCI to profit or loss - included in financial expenses | 38 | (8) | |
Deferred tax | 1 | ||
Reserve Of Cash flow Hedges Ending Balance | 1 | (3) | 0 |
Cash flow hedging reserve [member] | Costs of hedging [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Reserve Of Cash flow Hedges Beginning Balance | (1) | 0 | |
Costs of hedging deferred and recognised in OCI | (6) | (1) | |
Change in fair value of currency swaps recognised in OCI | 0 | 0 | |
Reclassified from OCI to profit or loss - included in financial expenses | 0 | 0 | |
Deferred tax | 0 | ||
Reserve Of Cash flow Hedges Ending Balance | $ (7) | $ (1) | $ 0 |
Capital and other commitments -
Capital and other commitments - Summary of Capital and Other Commitments (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of contractual capital commitments [line items] | ||
Capital and other commitments | $ 194 | $ 136 |
Property, plant and equipment [member] | ||
Disclosure of contractual capital commitments [line items] | ||
Capital and other commitments | 52 | 46 |
Intangible assets [member] | ||
Disclosure of contractual capital commitments [line items] | ||
Capital and other commitments | 7 | 7 |
Key money [member] | ||
Disclosure of contractual capital commitments [line items] | ||
Capital and other commitments | $ 135 | $ 83 |
Capital and other commitments_2
Capital and other commitments - Summary of Capital and Other Commitments (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of contractual capital commitments [line items] | ||
Capital and other commitments | $ 194 | $ 136 |
UK Portfolio [member] | ||
Disclosure of contractual capital commitments [line items] | ||
Capital and other commitments | $ 33 |
Capital and other commitments_3
Capital and other commitments - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of capital and other commitments [line items] | ||
Unutilised facilities provided by banks | $ 5 | $ 5 |
Capital and other commitments | 194 | 136 |
Associates [member] | ||
Disclosure of capital and other commitments [line items] | ||
Capital and other commitments | $ 6 | $ 0 |
Contingencies and guarantees -
Contingencies and guarantees - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019USD ($)Lawsuits | Dec. 31, 2018USD ($) | Dec. 31, 2016USD ($) | |
Disclosure of contingent liabilities [line items] | |||
Outstanding letters of credit | $ 33,000,000 | $ 29,000,000 | |
Guarantees of loans made to equity accounted investments | 55,000,000 | 43,000,000 | |
Other contingent liabilities | 0 | 0 | |
Security Incidents [member] | |||
Disclosure of contingent liabilities [line items] | |||
Provision | $ 0 | $ 5,000,000 | |
Litigation settlement amount | $ 3,000,000 | ||
Number of lawsuits filed againsts group | Lawsuits | 4 | ||
Security Incidents [member] | One of the Four Lawsuits [Member] | Maximum [member] | |||
Disclosure of contingent liabilities [line items] | |||
Litigation settlement amount | $ 2,000,000 | ||
Americas security incident [member] | |||
Disclosure of contingent liabilities [line items] | |||
Number of managed properties affected by security incident | 12 |
Related party disclosures - Sum
Related party disclosures - Summary of Total Compensation of Key Management Personnel (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Compensation of key management personnel [abstract] | |||
Short-term employment benefits | $ 15.8 | $ 18.2 | $ 21.3 |
Contributions to defined contribution pension plans | 0.5 | 0.5 | 0.6 |
Equity compensation benefits | 12.1 | 13 | 10.2 |
Termination benefits | 1.9 | ||
Total compensation of key management personnel | $ 28.4 | $ 31.7 | $ 34 |
Related party disclosures - S_2
Related party disclosures - Summary of Related Party Disclosures for Associates and Joint Ventures (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [Line Items] | |||
Revenue from associates and joint ventures | $ 10 | $ 10 | $ 9 |
Other amounts owed by associates and joint ventures | 3 | 1 | 2 |
Amounts owed to associates and joint ventures | (4) | (2) | |
Associates [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Revenue from associates and joint ventures | 10 | 9 | 8 |
Other amounts owed by associates and joint ventures | 3 | 1 | 2 |
Amounts owed to associates and joint ventures | $ (4) | (2) | |
Joint ventures [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Revenue from associates and joint ventures | $ 1 | $ 1 |
Related party disclosures - Add
Related party disclosures - Additional Information (Detail) - Barclay associate [member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [Line Items] | ||
Loan to and from material associate investment (offset in accordance with IAS32) | $ 237 | $ 237 |
Average interest rate on interest payable and receivable relating to loan to and from material associate investment | 2.10% | 2.70% |
System Fund - Summary of System
System Fund - Summary of System Fund Revenues (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
System fund [line items] | |||
System fund revenue | $ 1,373 | $ 1,233 | $ 1,242 |
Assessment fees and contributions received from hotels [member] | |||
System fund [line items] | |||
System fund revenue | 1,036 | 979 | 934 |
Loyalty programme revenue [member] | |||
System fund [line items] | |||
System fund revenue | $ 337 | $ 254 | $ 308 |
System Fund - Summary of Syst_2
System Fund - Summary of System Fund Expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
System fund [line items] | |||
Depreciation and amortisation | $ 116 | $ 115 | $ 112 |
System Fund [member] | |||
System fund [line items] | |||
Marketing | 461 | 427 | 405 |
Depreciation and amortisation | 54 | 49 | 41 |
Costs are borne by the System Fund [member] | System Fund [member] | |||
System fund [line items] | |||
Payroll costs | $ 313 | $ 347 | $ 339 |
Group Companies - Summary of In
Group Companies - Summary of Investment in Subsidiaries (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
IHG Management d.o.o Beograd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Management” d.o.o. Beograd |
Registered addresses | Krunska 73, Beograd, 11000, Serbia |
Ownership Percentage | 100.00% |
24th Street Operator Sub, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | 24th Street Operator Sub, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
36th Street IHG Sub, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | 36th Street IHG Sub, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
426 Main Ave LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | 426 Main Ave LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
46 Nevins Street Associates, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | 46 Nevins Street Associates, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
2250 Blake Street Hotel, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | 2250 Blake Street Hotel, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Allegro Management LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Allegro Management LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Alpha Kimball Hotel LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Alpha Kimball Hotel LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
American Commonwealth Assurance Co.Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | American Commonwealth Assurance Co. Ltd. |
Registered addresses | Clarendon House, 2 Church Street, Hamilton HM11, Bermuda |
Ownership Percentage | 100.00% |
Asia Pacific Holdings Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Asia Pacific Holdings Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Barclay Operating Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Barclay Operating Corp. |
Registered addresses | 80 State Street, Albany NY 12207-2543, USA |
Ownership Percentage | 100.00% |
BHMC Canada Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | BHMC Canada Inc. |
Registered addresses | 199 Bay Street, Suite 2800, Commerce Court West, Toronto, ON M5L 1A9, Canada |
Ownership Percentage | 100.00% |
BHR Holdings B.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | BHR Holdings B.V. |
Registered addresses | Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands |
Ownership Percentage | 100.00% |
BHR Pacific Holdings Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | BHR Pacific Holdings, Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
BHTC Canada Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | BHTC Canada Inc. |
Registered addresses | 199 Bay Street, Suite 2800, Commerce Court West, Toronto, ON M5L 1A9, Canada |
Ownership Percentage | 100.00% |
Blythswood Square Glasgow Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Blythswood Square Glasgow Hotel OpCo Ltd |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
BOC Barclay Sub LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | BOC Barclay Sub LLC |
Registered addresses | 80 State Street, Albany NY 12207-2543, USA |
Ownership Percentage | 100.00% |
Bristol Oakbrook Tenant Company [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Bristol Oakbrook Tenant Company |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Cafe Biarritz [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Café Biarritz |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Cambridge Lodging LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Cambridge Lodging LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Capital Lodging LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Capital Lodging LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
CF Irving Owner, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | CF Irving Owner, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
CF McKinney Owner, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | CF McKinney Owner, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
CF Waco Owner, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | CF Waco Owner, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Compania Inter Continental De Hoteles El Salvador SA [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Compañia Inter-Continental De Hoteles El Salvador SA |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Crowne Plaza LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Crowne Plaza LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Cumberland Akers Hotel LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Cumberland Akers Hotel LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Dunwoody Operations, Inc.[member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Dunwoody Operations, Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Edinburgh George Street Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Edinburgh George Street Hotel OpCo Ltd |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Edinburgh IC Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Edinburgh IC Limited |
Registered addresses | Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, UK |
Ownership Percentage | 100.00% |
EVEN Real Estate Holding LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | EVEN Real Estate Holding LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
General Innkeeping Acceptance Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | General Innkeeping Acceptance Corporation |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Grand Central Glasgow Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Grand Central Glasgow Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Guangzhou SC Hotels Services Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Guangzhou SC Hotels Services Ltd |
Registered addresses | Building 4, No. 13 Xiao Gang Zhong Ma Road, Zhuhai District, Guangzhou, Guangdong, P.R. China |
Ownership Percentage | 100.00% |
H.I. (Ireland) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | H.I. (Ireland) Limited |
Registered addresses | 29 Earlsfort Terrace, Dublin 2, D02 AY28, Ireland |
Ownership Percentage | 100.00% |
HI Sugarloaf, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | HI Sugarloaf, LLC |
Registered addresses | 40 Technology Pkwy South, #300 Norcross GA 30092, USA |
Ownership Percentage | 100.00% |
Hale International Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Hale International Ltd. |
Registered addresses | Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
HC International Holdings, Inc [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | HC International Holdings, Inc. |
Registered addresses | Wilmington Trust SP Services, Inc. 1105 North Market Street, Suite 1300, Wilmington, DE 19801, USA |
Ownership Percentage | 100.00% |
HH France Holdings SAS [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | HH France Holdings SAS |
Registered addresses | 31–33 rue Mogador – 75009 Paris, France |
Ownership Percentage | 100.00% |
HH Hotels (EMEA) B.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | HH Hotels (EMEA) B.V. |
Registered addresses | Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands |
Ownership Percentage | 100.00% |
HH Hotels (Romania) SRL [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | HH Hotels (Romania) SRL |
Registered addresses | Bucharest, 1st District, 50–52 Buzesti St, 83 module, 11 floor, Romania |
Ownership Percentage | 100.00% |
HIM (Aruba) NV [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | HIM (Aruba) NV |
Registered addresses | 230 J E Irausquin Boulevard, Palm Beach, Aruba |
Ownership Percentage | 100.00% |
Hoft Properties LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Hoft Properties LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Holiday Hospitality Franchising, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Hospitality Franchising, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Holiday Inn Mexicana S.A. de C.V [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inn Mexicana S.A. de C.V. |
Registered addresses | Ontario # 1050, Col. Providencia. Guadalajara, Jalisco CP 44630, Mexico |
Ownership Percentage | 100.00% |
Holiday Inns (China) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (China) Ltd |
Registered addresses | Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong |
Ownership Percentage | 100.00% |
Holiday Inns (Chongqing), Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Chongqing), Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns (Courtalin) Holdings SAS [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Courtalin) Holdings SAS |
Registered addresses | 31–33 rue Mogador – 75009 Paris, France |
Ownership Percentage | 100.00% |
Holiday Inns (Courtalin) SAS [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Courtalin) SAS |
Registered addresses | 31–33 rue Mogador – 75009 Paris, France |
Ownership Percentage | 100.00% |
Holiday Inns (England) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (England) Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Holiday Inns (Germany), LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Germany), LLC |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns (Guangzhou), Inc [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Guangzhou), Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns (Jamaica) Inc [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Jamaica) Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns (Middle East) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Middle East) Limited |
Registered addresses | Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong |
Ownership Percentage | 100.00% |
Holiday Inns (Philippines) Inc [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Philippines), Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns (Saudi Arabia) Inc [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Saudi Arabia), Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns (Thailand) Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (Thailand) Ltd. |
Registered addresses | Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong |
Ownership Percentage | 100.00% |
Holiday Inns (UK), Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns (UK), Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns Crowne Plaza (Hong Kong), Inc.[member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns Crowne Plaza (Hong Kong), Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
Holiday Inns Holdings (Australia) Pty Ltd.[member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns Holdings (Australia) Pty Ltd |
Registered addresses | Level 11, 20 Bond Street, Sydney NSW 2000, Australia |
Ownership Percentage | 100.00% |
Holiday Inns Inc.[member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Holiday Inns Investment (Nepal) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns Investment (Nepal) Ltd. |
Registered addresses | Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong |
Ownership Percentage | 100.00% |
Holiday Inns of America (UK) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns of America (UK) Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Holiday Inns of Belgium N.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Inns of Belgium N.V. |
Registered addresses | Rond Punt Schumanplein 11, 1040 Brussels, Belgium |
Ownership Percentage | 100.00% |
Holiday Pacific Equity Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Pacific Equity Corporation |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Holiday Pacific LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Pacific LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Holiday Pacific Partners, LP [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Holiday Pacific Partners, LP |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Hotel InterContinental London (Holdings) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Hotel InterContinental London (Holdings) Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Hotel Inter-Continental London Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Hotel Inter-Continental London Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Hoteles Y Turismo HIH SRL [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Hoteles Y Turismo HIH SRL |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IC Hotelbetriebsfuhrungs GmbH [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IC Hotelbetriebsfuhrungs GmbH |
Registered addresses | QBC 4 – Am Belvedere 4, 1100, Vienna, Austria |
Ownership Percentage | 100.00% |
IC Hotels Management (Portugal) Unipessoal, Lda [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IC Hotels Management (Portugal) Unipessoal, Lda |
Registered addresses | Avenida da Republica, no 52 – 9, 1069 – 211, Lisbon, Portugal |
Ownership Percentage | 100.00% |
IC International Hotels Limited Liability Company [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IC International Hotels Limited Liability Company |
Registered addresses | 24, Rusakovskaya Str., Moscow 107014, Russian Federation |
Ownership Percentage | 100.00% |
IHC Buckhead, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Buckhead, LLC |
Registered addresses | 40 Technology Pkwy South, #300 Norcross GA 30092, USA |
Ownership Percentage | 100.00% |
IHC Edinburgh (Holdings) [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Edinburgh (Holdings) |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC Hopkins (Holdings) Corp [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Hopkins (Holdings) Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHC Hotel Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Hotel Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC Inter-Continental (Holdings) Corp [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Inter-Continental (Holdings) Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHC London (Holdings) [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC London (Holdings) |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC May Fair (Holdings) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC May Fair (Holdings) Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC May Fair Hotel Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC May Fair Hotel Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC M-H (Holdings) Corp [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC M-H (Holdings) Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHC Overseas (U.K.) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Overseas (U.K.) Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC UK (Holdings) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC UK (Holdings) Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHC United States (Holdings) Corp [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC United States (Holdings) Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHC Willard (Holdings) Corp [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHC Willard (Holdings) Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHG (Marseille) SAS [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG (Marseille) SAS |
Registered addresses | 31–33 rue Mogador – 75009 Paris, France |
Ownership Percentage | 100.00% |
IHG (Myanmar) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG (Myanmar) Ltd |
Registered addresses | 10 Bo Yar Zar Street, Kyaukkone Yankin Township, Yangon, Myanmar |
Ownership Percentage | 100.00% |
IHG (Thailand) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG (Thailand) Limited |
Registered addresses | 973 President Tower, 7th Floor, Units 7A, 7B, 7C, 7D, 7I, 7F, 7G and 7H, Ploenchit Road, Khwaeng Lumpini, Khet Pathumwan, Bangkok Metropolis, 10330, Thailand |
Ownership Percentage | 100.00% |
IHG Bangkok Ltd.[member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Bangkok Ltd |
Registered addresses | Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
IHG Brasil Administracao de Hoteis e Servicos.[member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Brasil Administracao de Hoteis e Servicos Ltda |
Registered addresses | Alameda Jau 536, Suite 3S-B, 01420-000 Sao Paulo, Brazil |
Ownership Percentage | 100.00% |
IHG Civ Holding CoInvestment Fund LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Civ Holding Co-Investment Fund, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHG Civ Holding Main Fund LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Civ Holding Main Fund, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHG Commission Services SRL [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Commission Services SRL |
Registered addresses | Suite 1, Ground Floor, The Financial Services Centre, Bishops Court Hill, St. Michael, Barbados, BB14004 |
Ownership Percentage | 100.00% |
IHG Community Development, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Community Development, LLC |
Registered addresses | 40 Technology Pkwy South, #300 Norcross GA 30092, USA |
Ownership Percentage | 100.00% |
IHG de Argentina SA [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG de Argentina SA |
Registered addresses | Avenida Cordoba 1547, piso 8, oficina A, Buenos Aires, Argentina |
Ownership Percentage | 100.00% |
IHG ECS (Barbados) SRL [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG ECS (Barbados) SRL |
Registered addresses | Suite 1, Ground Floor, The Financial Services Centre, Bishops Court Hill, St. Michael, Barbados, BB14004 |
Ownership Percentage | 100.00% |
IHG Franchising Brasil Ltda [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Franchising Brasil Ltda |
Registered addresses | Alameda Jau 536, Suite 3S-D, 01420-000 São Paulo, Brazil |
Ownership Percentage | 100.00% |
IHG Franchising DR Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Franchising DR Corporation |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHG Franchising LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Franchising, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHG Hotels (New Zealand) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Hotels (New Zealand) Limited |
Registered addresses | Level 10, Commerce Street, Auckland Central, Auckland 1000, New Zealand |
Ownership Percentage | 100.00% |
IHG Hotels Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Hotels Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHG Hotels Management (Australia) Pty Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Hotels Management (Australia) Pty Limited |
Registered addresses | Level 11, 20 Bond Street, Sydney NSW 2000, Australia |
Ownership Percentage | 100.00% |
IHG Hotels Nigeria Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Hotels Nigeria Limited |
Registered addresses | 1, Murtala Muhammed Drive, Ikoyi, Lagos, Nigeria |
Ownership Percentage | 100.00% |
IHG Hotels South Africa (Pty) Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Hotels South Africa (Pty) Limited |
Registered addresses | Central Office Park Unit 4, 257 Jean Avenue, Centurion 0157, South Africa |
Ownership Percentage | 100.00% |
IHG International Partnership [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG International Partnership |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHG Istanbul Otel Ynetim Limited Sirketi [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Istanbul Otel Yönetim Limited Sirketi |
Registered addresses | Eski Büyükdere Cd. Park Plaza No:14 K:4 Maslak – Sarıyer, Istanbul, Turkey |
Ownership Percentage | 100.00% |
IHG Japan (Management) LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Japan (Management) LLC |
Registered addresses | 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan |
Ownership Percentage | 100.00% |
IHG Japan (Osaka) LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Japan (Osaka) LLC |
Registered addresses | 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan |
Ownership Percentage | 100.00% |
IHG Management (Maryland) LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Management (Maryland) LLC |
Registered addresses | HIQ Corporate Services Inc., 715 St. Paul Street, Baltimore, MD 21202, USA |
Ownership Percentage | 100.00% |
IHG Management (Netherlands) B.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Management (Netherlands) B.V. |
Registered addresses | Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands |
Ownership Percentage | 100.00% |
IHG Management MD Barclay Sub LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Management MD Barclay Sub LLC |
Registered addresses | 80 State Street, Albany NY 12207-2543, USA |
Ownership Percentage | 100.00% |
IHG Management SL d.o.o [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Management SL d.o.o |
Registered addresses | Cesta v Mestni log 1, 1000 Ljubljana, Slovenia​​​​​​​ |
Ownership Percentage | 100.00% |
IHG Orchard Street Member, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Orchard Street Member, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
IHG PS Nominees Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG PS Nominees Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
IHG Systems Pty Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Systems Pty Ltd |
Registered addresses | Level 11, 20 Bond Street, Sydney NSW 2000, Australia |
Ownership Percentage | 100.00% |
IHG Szalloda Budapest Szolgaltato Kft. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Szalloda Budapest Szolgaltato Kft. |
Registered addresses | 1052 Budapest, Apáczai Csere János u. 12–14, Hungary |
Ownership Percentage | 100.00% |
IND East Village SD Holdings, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IND East Village SD Holdings, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
InterContinental Berlin Service Company GmbH [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Berlin Service Company GmbH |
Registered addresses | Budapester Str. 2, 10787 Berlin, Germany |
Ownership Percentage | 100.00% |
InterContinental (Branston) 1 Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental (Branston) 1 Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental (PB) 1 [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental (PB) 1 |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental (PB) 3 Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental (PB) 3 Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental Brasil Administracao de Hoteis Ltda [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Brasil Administracao de Hoteis Ltda |
Registered addresses | Alameda Jau 536, Suite 3s-A, 01420-000 Sao Paulo, Brazil |
Ownership Percentage | 100.00% |
Inter-Continental D.C. Operating Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental D.C. Operating Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Inter-Continental Florida Investment Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Florida Investment Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Inter-Continental Florida Partner Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Florida Partner Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
InterContinental Gestion Hotelera S.L. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Gestion Hotelera S.L. |
Registered addresses | Paseo de la Castellana 49, 28046 Madrid, Spain |
Ownership Percentage | 100.00% |
Inter-Continental Hospitality Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hospitality Corporation |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
InterContinental Hotel Berlin GmbH [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotel Berlin GmbH |
Registered addresses | Budapester Str. 2, 10787 Berlin, Germany |
Ownership Percentage | 100.00% |
InterContinental Hotel Dusseldorf GmbH (Germany) [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotel Düsseldorf GmbH |
Registered addresses | Koenigsallee 59, D-40215, Dusseldorf, Germany |
Ownership Percentage | 100.00% |
Inter-Continental Hoteleira Limitada [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hoteleira Limitada |
Registered addresses | Alameda Jau 536, Suite 3S-E, 01420-000 São Paulo, Brazil |
Ownership Percentage | 100.00% |
Inter-Continental Hotels (Montreal) Operating Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hotels (Montreal) Operating Corp. |
Registered addresses | InterContinental Montreal, 360 St. Antoine Street West, Montreal, Quebec H2Y 3X4, Canada |
Ownership Percentage | 100.00% |
Inter-Continental Hotels (Montreal) Owning Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hotels (Montreal) Owning Corp. |
Registered addresses | InterContinental Montreal, 360 St. Antoine Street West, Montreal, Quebec H2Y 3X4, Canada |
Ownership Percentage | 100.00% |
InterContinental Hotels (Puerto Rico) Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels (Puerto Rico) Inc. |
Registered addresses | 361 San Francisco Street Penthouse, San Juan, PR 00901, Puerto Rico |
Ownership Percentage | 100.00% |
Inter-Continental Hotels (Singapore) Pte. Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hotels (Singapore) Pte. Ltd. |
Registered addresses | 230 Victoria Street, #13-00 Bugis Junction Towers, 188024, Singapore |
Ownership Percentage | 100.00% |
Inter-Continental Hotels Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hotels Corporation |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Inter-Continental Hotels Corporation de Venezuela C.A. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hotels Corporation de Venezuela C.A. |
Registered addresses | Hotel Tamanaco Inter-Continental, Final Av. Ppal, Mercedes, Caracas, Venezuela |
Ownership Percentage | 100.00% |
Intercontinental Hotels Corporation Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Intercontinental Hotels Corporation Limited |
Registered addresses | Clarendon House, 2 Church Street, Hamilton HM11, Bermuda |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Asia Pacific) Pte Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (Asia Pacific) Pte Ltd |
Registered addresses | 230 Victoria Street, #13-00 Bugis Junction Towers, 188024, Singapore |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Australia) Pty Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (Australia) Pty |
Registered addresses | Level 11, 20 Bond Street, Sydney NSW 2000, Australia |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Canada) Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (Canada) Inc. |
Registered addresses | 199 Bay Street, Suite 2800, Commerce Court West, Toronto, ON M5L 1A9, Canada |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Espana) SA [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (España) SA |
Registered addresses | Paseo de la Castellana 49, 28046 Madrid, Spain |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Greater China) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (Greater China) Limited |
Registered addresses | Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (India) Pvt. Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (India) Pvt. Ltd |
Registered addresses | 11th Floor, Building No. 10, Tower C, DLF Phase-II, DLF Cyber City, Gurgaon, Haryana-122002, India |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Japan) Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (Japan) Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (New Zealand) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (New Zealand) Limited |
Registered addresses | Level 10, Commerce Street, Auckland Central, Auckland 1000, New Zealand |
Ownership Percentage | 100.00% |
InterContinental Hotels Group (Shanghai) Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group (Shanghai) Ltd. |
Registered addresses | 22nd Floor, Citigroup Tower, No. 33 Huayuanshiqiao Road, Pudong, Shanghai, P.R. China |
Ownership Percentage | 100.00% |
InterContinental Hotels Group Customer Services Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group Customer Services Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental Hotels Group do Brasil Limitada [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group do Brasil |
Registered addresses | Alameda Jau 536, Suite 3S-C, 01420-000 São Paulo, Brazil |
Ownership Percentage | 100.00% |
InterContinental Hotels Group Healthcare Trustee Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group Healthcare Trustee Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental Hotels Group Operating Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group Operating Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
InterContinental Hotels Group Resources LLC. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group Resources, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
InterContinental Hotels Group Services Company [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Group Services Company |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental Hotels Italia, S.r.L. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Italia, S.r.L. |
Registered addresses | Viale Monte Nero n.84, 20135 Milano, Italy |
Ownership Percentage | 100.00% |
InterContinental Hotels Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
InterContinental Hotels Management GmbH [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Management GmbH |
Registered addresses | Thurn-und-Taxis-Platz 6 – 60313 Frankfurt am Main, Germany |
Ownership Percentage | 100.00% |
InterContinental Hotels Nevada Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Hotels Nevada Corporation |
Registered addresses | 2215-B Renaissance Drive, Las Vegas, NV 89119, USA |
Ownership Percentage | 100.00% |
Inter-Continental Hotels of San Francisco Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental Hotels of San Francisco Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Inter-Continental IOHC (Mauritius) Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Inter-Continental IOHC (Mauritius) Limited |
Registered addresses | JurisTax Services Ltd, Level 12, NeXTeracom Tower II, Ebene, Mauritius |
Ownership Percentage | 100.00% |
InterContinental Management AM LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Management AM LLC |
Registered addresses | 23/6 D. Anhaght Str., Yerevan, 0069, Armenia |
Ownership Percentage | 100.00% |
InterContinental Management Bulgaria EOOD [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Management Bulgaria EOOD |
Registered addresses | 37A Professor Fridtjof Nansen Street, 5th Floor, District Sredets, Sofia, 1142, Bulgaria |
Ownership Percentage | 100.00% |
InterContinental Management France SAS [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Management France SAS |
Registered addresses | 31–33 rue Mogador – 75009 Paris, France |
Ownership Percentage | 100.00% |
InterContinental Management Poland sp. z.0.0 [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Management Poland sp. z.o.o |
Registered addresses | Generation Park Z – ul. Towarowa 28, 00-839 |
Ownership Percentage | 100.00% |
KG Benefits LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KG Benefits LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KG Gift Card Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KG Gift Card Inc |
Registered addresses | 2710 Gateway Oaks Drive, Suite 150N, Sacramento, CA 95833-3505, USA |
Ownership Percentage | 100.00% |
KG Liability LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KG Liability LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KG Technology, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KG Technology, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHP Washington Operator LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHP Washington Operator LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG 11th Avenue Hotel LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG 11th Avenue Hotel LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG 851 LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG 851 LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Aertson LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Aertson LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Alexandria LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Alexis, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Allegro, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Allegro, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Argyle, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Argyle, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Austin Beverage Company, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Austin Beverage Company, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Baltimore, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Baltimore, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Born LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Born LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Boston Hotel, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Boston Hotel, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Bozeman LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Bozeman LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Canary LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Canary LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Cayman LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Cayman LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Cayman Employer Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Cayman Employer Ltd. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Dallas LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Dallas LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG DC 1731 LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG DC 1731 LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG DC 2505 LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG DC 2505 LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Employer, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Employer, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Goleta LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Goleta LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Gray LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Gray LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Gray U2 LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Gray U2 LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Huntington Beach LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Huntington Beach LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Key West LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Key West LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG King Street, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG King Street, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG La Peer LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG La Peer LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Miami Beach LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Miami Beach LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Muse LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Muse LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG New Orleans LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG New Orleans LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG NPC LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG NPC LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Onyx LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Ownership Percentage | 100.00% |
KHRG Palladian LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Palladian LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Palomar Phoenix LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Palomar Phoenix LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Philly Monaco LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Philly Monaco LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Pittsburgh LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Pittsburgh LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Porsche Drive LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Porsche Drive LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Reynolds LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Reynolds LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Riverplace LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Riverplace LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Sacramento LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Sacramento LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Savannah LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Savannah LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Schofield LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Schofield LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG SFD LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG SFD LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG SF Wharf LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG SF Wharf LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG SF Wharf U2 LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG SF Wharf U2 LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG South Beach LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG South Beach LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG State Street LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG State Street LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Sutter LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Sutter LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Sutter Union LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Sutter Union LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Taconic LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Taconic LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Tariff LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Tariff LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Texas Hospitality, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Texas Hospitality, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Texas Operations, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Texas Operations, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Tryon LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Tryon LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Vero Beach, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Vero Beach, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Vintage Park LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Vintage Park LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG VZ Austin LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG VZ Austin LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Wabash LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Wabash LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Westwood, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Westwood, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
KHRG Wilshire LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Wilshire LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Kimpton Hollywood Licenses LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Kimpton Hollywood Licenses LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Kimpton Hotel & Restaurant Group LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Kimpton Hotel & Restaurant Group, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Kimpton Phoenix Licenses Holdings LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Kimpton Phoenix Licenses Holdings LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Kimpton Sedona Licenses LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Kimpton Sedona Licenses LLC |
Louisiana Acquisitions Corp. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Louisiana Acquisitions Corp. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Luxury Resorts And Spas (France) SAS [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Luxury Resorts and Spas (France) SAS |
Registered addresses | 95 Blvd. Berthier, 75017 Paris, France |
Ownership Percentage | 100.00% |
Manchester Oxford Street Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Manchester Oxford Street Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Mercer Fairview Holdings LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Mercer Fairview Holdings LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Met Leeds Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Met Leeds Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
MH Lodging LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | MH Lodging LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Oxford Spires Hotel OpCo Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Oxford Spires Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Oxford Thames Hotel OpCo Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Oxford Thames Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
PML Services LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | PML Services LLC |
Registered addresses | HIQ Corporate Services Inc., 715 St. Paul Street, Baltimore, MD 21202, USA |
Ownership Percentage | 100.00% |
Pollstrong Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Pollstrong Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Powell Pine, Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Powell Pine, Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Priscilla Holiday of Texas, Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Priscilla Holiday of Texas, Inc. |
Registered addresses | 11003 Onion Creek Court, Austin, TX 78747, USA |
Ownership Percentage | 100.00% |
PT Regent Indonesia [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | PT Regent Indonesia |
Registered addresses | Menara Impreium 22nd Floor, Suite D, JI. HR. Rasuna Said Kav.1, Guntur Sub-district, Setiabudi District, South Jakarta 12980, Indonesia |
Ownership Percentage | 100.00% |
PT SC Hotels & Resorts Indonesia [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | PT SC Hotels & Resorts Indonesia |
Registered addresses | Menara Impreium 22nd Floor, Suite D, JI. HR. Rasuna Said Kav.1, Guntur Sub-district, Setiabudi District, South Jakarta 12980, Indonesia |
Ownership Percentage | 100.00% |
Raison dEtre Holdings BVI Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Raison d’Etre Holdings (BVI) Limited |
Registered addresses | Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
Raison dEtre Services BVI Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Raison d’Etre Services (BVI) Limited |
Registered addresses | Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
Raison dEtre Spas Sweden AB [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Raison d’Etre Spas Sweden AB |
Registered addresses | Grevgatan 13, 11453 Stockholm, Sweden |
Ownership Percentage | 100.00% |
Regent Asia Pacific Hotel Management Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Regent Asia Pacific Hotel Management Ltd |
Registered addresses | 14th Floor, South China Building, 1-3 Wyndham Street, Hong Kong |
Ownership Percentage | 100.00% |
Regent Asia Pacific Management Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Regent Asia Pacific Management Ltd |
Registered addresses | Brumby Centre, Lot 42, Jalan Muhibbah, 87000 Labuan F.T., Malaysia |
Ownership Percentage | 100.00% |
Regent Berlin GmbH [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Regent Berlin GmbH |
Registered addresses | Charlottenstrasse 49, Berlin, 10117, Germany |
Ownership Percentage | 100.00% |
Regent International Hotels Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Regent International Hotels Ltd |
Registered addresses | 14th Floor, South China Building, 1-3 Wyndham Street, Hong Kong |
Ownership Percentage | 100.00% |
Resort Services International (Cayo Largo) L.P. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Resort Services International (Cayo Largo) L.P. |
Registered addresses | 40 Technology Pkwy South, #300 Norcross GA 30092, USA |
Ownership Percentage | 100.00% |
Roxburghe Hotel Edinburgh OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Roxburghe Hotel Edinburgh OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Russell London Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Russell London Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
SBS Maryland Beverage Company LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SBS Maryland Beverage Company LLC |
Registered addresses | HIQ Corporate Services Inc., 715 St. Paul Street, Baltimore, MD 21202, USA |
Ownership Percentage | 100.00% |
SC Hotels International Services, Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SC Hotels International Services, Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
SC Leisure Group Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SC Leisure Group Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
SC NAS 2 Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SC NAS 2 Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
SC Quest Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SC Quest Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
SC Reservations (Philippines) Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SC Reservations (Philippines) Inc. |
Registered addresses | 2908 Poston Avenue, Nashville, TN 37203, USA |
Ownership Percentage | 100.00% |
SCH Insurance Company [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SCH Insurance Company |
Registered addresses | 150 South Champlain Street, Burlington, VT 05401, USA |
Ownership Percentage | 100.00% |
SCIH Branston 3 [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SCIH Branston 3 |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Semiramis for training of Hotel Personnel and Hotel Management SAE [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Semiramis for training of Hotel Personnel and Hotel Management SAE |
Registered addresses | Ground Floor, Al Kamel Law Building, Plot 52-b, Banks Area, Six of October City, Egypt |
Ownership Percentage | 100.00% |
SF MH Acquisition LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SF MH Acquisition LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Six Continents Holdings Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Holdings Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Six Continents Hotels de Colombia SA [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Hotels de Colombia SA |
Registered addresses | Calle 49, Sur 45 A 300 Of 1102 Envigado Antioquia, Colombia |
Ownership Percentage | 100.00% |
Six Continents Hotels International Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Hotels International Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Six Continents Hotels, Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Hotels, Inc. |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Six Continents International Holdings B.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents International Holdings B.V. |
Registered addresses | Kingsfordweg 151, 1043 GR Amsterdam, The Netherlands |
Ownership Percentage | 100.00% |
Six Continents Investments Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Investments Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Six Continents Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Six Continents Overseas Holdings Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Overseas Holdings Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Six Continents Restaurants Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Continents Restaurants Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
SLC Sustainable Luxury Cyprus Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SLC Sustainable Luxury Cyprus Limited |
Registered addresses | ATS Services Limited, Capital Center, 9th Floor, 2-4 Arch. Makarios III Ave., 1065 Nicosia, Cyprus |
Ownership Percentage | 100.00% |
SixCo North America, Inc. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SixCo North America, Inc. |
Registered addresses | Wilmington Trust SP Services, Inc. 1105 North Market Street, Suite 1300, Wilmington, DE 19801, USA |
Ownership Percentage | 100.00% |
Six Senses America IP LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Senses America IP LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Six Senses Capital Pte Ltd [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Senses Capital Pte. Ltd |
Registered addresses | Trident Corporate Services (Singapore) Pte. Limited, 96 Robinson Road, #16-01 SIF Building, 068899, Singapore |
Ownership Percentage | 100.00% |
Six Senses North America Management LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Six Senses North America Management LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Solamar Lodging LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Solamar Lodging LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Southern Pacific Hotel Corporation (BVI) Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Southern Pacific Hotel Corporation (BVI) Ltd. |
Registered addresses | Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
Southern Pacific Hotels Properties Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Southern Pacific Hotels Properties Limited |
Registered addresses | Craigmuir Chambers, Road Town, Tortola VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
SPHC Group Pty Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SPHC Group Pty Ltd. |
Registered addresses | Level 11, 20 Bond Street, Sydney NSW 2000, Australia |
Ownership Percentage | 100.00% |
SPHC Management Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | SPHC Management Ltd. |
Registered addresses | C/o Holiday Inn & Suites, Cnr Waigani Drive & Wards Road, Port Moresby, National Capital District, Papua New Guinea |
Ownership Percentage | 100.00% |
St Davids Cardiff Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | St David’s Cardiff Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
Sustainable Luxury Holdings BVI Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Holdings (BVI) Limited |
Registered addresses | Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
Sustainable Luxury Holdings Thailand Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Holdings (Thailand) Limited |
Ownership Percentage | 49.00% |
Sustainable Luxury Hospitality Thailand Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Hospitality (Thailand) Limited |
Registered addresses | 57, 9th Floor, Park Ventures Ecoplex, Unit 902-904, Wireless Road, Limpini, Pathum Wan Bangkok 10330, Thailand |
Ownership Percentage | 100.00% |
Sustainable Luxury Lanka Pvt Ltd [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Lanka Pvt. Ltd |
Registered addresses | No. 9/5 Thambiah Ave, Colombo 7, Sri Lanka |
Ownership Percentage | 100.00% |
Sustainable Luxury Maldives Private Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Maldives Private Limited |
Registered addresses | Premier Chambers, M.Lux Lodge, 1st Floor, Orchid Magu, Male, Republic of Maldives |
Ownership Percentage | 100.00% |
Sustainable Luxury Management Thailand Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Management (Thailand) Limited |
Registered addresses | 57, 9th Floor, Park Ventures Ecoplex, Unit 902-904, Wireless Road, Limpini, Pathum Wan Bangkok 10330, Thailand |
Ownership Percentage | 100.00% |
Sustainable Luxury Mauritius Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Mauritius Limited |
Registered addresses | Venture Corporate Services (Mauritius) Ltd, Level 3, Tower 1, Nexteracom Towers, Cybercity, Ebene, Mauritius |
Ownership Percentage | 100.00% |
Sustainable Luxury Operations Thailand Ltd [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Operations (Thailand) Ltd |
Registered addresses | 57, 9th Floor, Park Ventures Ecoplex, Unit 902-904, Wireless Road, Limpini, Pathum Wan Bangkok 10330, Thailand |
Ownership Percentage | 100.00% |
Sustainable Luxury Services BVI Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Services (BVI) Limited |
Registered addresses | Conyers Corporate Services (BVI) Ltd, Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, VG1110, British Virgin Islands |
Ownership Percentage | 100.00% |
Sustainable Luxury Singapore Private Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Singapore Private. Limited |
Registered addresses | Trident Corporate Services (Singapore) Pte. Limited, 96 Robinson Road, #16-01 SIF Building, 068899, Singapore |
Ownership Percentage | 100.00% |
Sustainable Luxury UK Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury UK Limited |
Registered addresses | Berg Kaprow Lewis LLP, 35 Ballards Lane, DX 57284 Finchley 2, London, N3 1XW, UK |
Ownership Percentage | 100.00% |
Sustainable Luxury USA Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury USA Limited |
Registered addresses | Corporation Service Company, 1180 Ave. Of the Americas, New York 10036, USA |
Ownership Percentage | 100.00% |
Sustainable Luxury Vietnam Company Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Sustainable Luxury Vietnam Company Limited |
Registered addresses | PDD Building, 162 Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam |
Ownership Percentage | 100.00% |
The Grand Central Hotel Glasgow Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Grand Central Hotel Glasgow Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
The Met Hotel Leeds Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Met Hotel Leeds Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
The Principal Edinburgh George Street Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Principal Edinburgh George Street Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
The Principal London Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Principal London Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
The Principal Manchester Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Principal Manchester Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
The Principal York Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Principal York Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
The Roxburghe Hotel Edinburgh Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | The Roxburghe Hotel Edinburgh Limited |
Registered addresses | Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, UK |
Ownership Percentage | 100.00% |
Universal de Hoteles SA [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Universal de Hoteles SA |
Registered addresses | Calle 49, Sur 45 A 300 Of 1102 Envigado Antioquia, Colombia |
Ownership Percentage | 100.00% |
White Shield Insurance Company Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | White Shield Insurance Company Limited |
Registered addresses | Suite B, Ground Floor, Regal House, Queensway, Gibraltar |
Ownership Percentage | 100.00% |
Wotton House Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Wotton House Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
York Station Road Hotel OpCo Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | York Station Road Hotel OpCo Limited |
Registered addresses | Broadwater Park, Denham, Buckinghamshire, UB9 5HR, UK |
Ownership Percentage | 100.00% |
H.I. Soaltee Management Company Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | H.I. Soaltee Management Company Ltd |
Registered addresses | Level 54, Hopewell Center, 183 Queen’s Road East, Hong Kong |
Ownership Percentage | 100.00% |
IHG ANA Hotels Group Japan LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG ANA Hotels Group Japan LLC (74.66%) |
Registered addresses | 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan |
Ownership Percentage | 74.66% |
IHG ANA Hotels Holdings Co., Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG ANA Hotels Holdings Co., Ltd. (66%) |
Registered addresses | 20th Floor, Toranomon Kotohira Tower, 2–8, Toranomon 1-chome, Minato-ku, Tokyo, Japan |
Ownership Percentage | 66.00% |
Regent Hospitality Worldwide Inc [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | Regent Hospitality Worldwide, Inc. (51%) |
Registered addresses | Maples Corporate Services Ltd. – PO Box 309, Ugland House, Grand Cayman – KY-1104, Cayman Islands |
Ownership Percentage | 51.00% |
World Trade Centre Montreal Hotel Corporation [member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | World Trade Centre Montreal Hotel Corporation (74.11​​​​​​​%) |
Registered addresses | Suite 2500, 1000 De La Gauchetiere St. West, Montreal QC H3B 0A2, Canada |
Ownership Percentage | 74.11% |
IHG Mexico Operaciones SA de CV [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Mexico Operaciones SA de CV |
Registered addresses | Ontario # 1050, Col. Providencia. Guadalajara, Jalisco CP 44630, Mexico |
IHG Peru SRL [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Peru SRL |
Registered addresses | Bernardo Montengudo 201, 15076, Lima, Peru |
IHG Sermex SA de CV [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | IHG Sermex SA de CV |
Registered addresses | Ontario # 1050, Col. Providencia. Guadalajara, Jalisco CP 44630, Mexico |
InterContinental Overseas Holdings LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | InterContinental Overseas Holdings, LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Sustainable Luxury Gravity Global Private Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Registered addresses | B-11515 Bhikaj Cama Place, New Delhi, South Delhi, India, 110066 |
KHRG Dallas Beverage Company LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | KHRG Dallas Beverage Company LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage | 100.00% |
Group Companies - Summary of _2
Group Companies - Summary of Investment in Associates (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
111 East 48th Street Holdings LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | 111 East 48th Street Holdings LLC |
Registered addresses | 251 Little Falls Drive, Wilmington, DE 19808, USA |
Ownership Percentage in associates | 19.90% |
Alkoer, S. de R.L. de C.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Alkoer, S. de R.L. de C.V. (50%) |
Registered addresses | Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico |
Ownership Percentage in associates | 50.00% |
Beijing Orient Express Hotel Co., Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Beijing Orient Express Hotel Co., Ltd. (16.24%) |
Registered addresses | Room 311, Building 1, No 6 East Wen Hua Yuan Road, Beijing Economy and Technology Development Zone, Beijing, P.R.China |
Ownership Percentage in associates | 16.24% |
Blue Blood (Tianjin) Equity Investment Management Co., Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Blue Blood (Tianjin) Equity Investment Management Co., Limited (30.05%) |
Registered addresses | Room N306, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China |
Ownership Percentage in associates | 30.05% |
Carr Clark SWW Subventure, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Carr Clark SWW Subventure, LLC (26.67%) |
Registered addresses | Carr Hospitality, LLC, 1455 Pennsylvania Avenue, NW, Suite 100, Washington, DC 20004, USA |
Ownership Percentage in associates | 26.67% |
Carr Waterfront Hotel, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Carr Waterfront Hotel, LLC (11.46%) |
Registered addresses | Carr Hospitality, LLC, 1455 Pennsylvania Avenue, NW, Suite 100, Washington, DC 20004, USA |
Ownership Percentage in associates | 11.46% |
China Hotel Investment Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | China Hotel Investment Limited (30.05%) |
Registered addresses | The Phoenix Centre, George Street, Belleville St. Michael, Barbados |
Ownership Percentage in associates | 30.05% |
Desarrollo Alkoer Irapuato S. de R.L. de C.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Desarrollo Alkoer Irapuato S. de R.L. de C.V. (50%) |
Registered addresses | Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico |
Ownership Percentage in associates | 50.00% |
Desarrollo Alkoer Saltillo S. de R.L. de C.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Desarrollo Alkoer Saltillo S. de R.L. de C.V. (50%) |
Registered addresses | Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico |
Ownership Percentage in associates | 50.00% |
Desarrollo Alkoer Silao S. de R.L. de C.V. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Desarrollo Alkoer Silao S. de R.L. de C.V. (50%) |
Registered addresses | Avenida Ejercito Nacional Mexicano No. 769, Torre B Piso 8, Granada, Miguel Hidalgo, Ciudad de México, CP 11520, Mexico |
Ownership Percentage in associates | 50.00% |
EDG Alpharetta EH LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | EDG Alpharetta EH LLC |
Registered addresses | 20200 W Dixie Highway, Suite #908, Miami, FL 33180, USA |
Ownership Percentage in associates | 0.00% |
Gestion Hotelera Gestel, C.A. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Gestion Hotelera Gestel, C.A. (50%) |
Registered addresses | Hotel Tamanaco Inter-Continental, Final Av. Ppal, Mercedes, Caracas, Venezuela |
Ownership Percentage in associates | 50.00% |
Groups360 LLC [Member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Groups360 LLC |
Ownership Percentage in associates | 13.15% |
H.I. Soaltee Hotel Company Private Ltd [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | H.I. Soaltee Hotel Company Private Ltd (33.4%) |
Registered addresses | Tahachal, Kathmandu, Nepal |
Ownership Percentage in associates | 33.40% |
Hotel JV Services LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Hotel JV Services LLC (17.8%) |
Registered addresses | 2711 Centerville Road, Suite 400, Wilmington, DE 19805, USA |
Ownership Percentage in associates | 17.80% |
Inter-Continental Hotels Saudi Arabia Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Inter-Continental Hotels Saudi Arabia Limited (40%) |
Registered addresses | Madinah Road, Jeddah, P.O Box 9456, Post Code 21413, Jeddah, Saudi Arabia |
Ownership Percentage in associates | 40.00% |
NF III Seattle, LLC [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | NF III Seattle, LLC (25%) |
Registered addresses | 2000 Monarch Tower, 3424 Peachtree Road, N.E., Atlanta, GA 30326, USA |
Ownership Percentage in associates | 25.00% |
Nuevas Fronteras S.A. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Nuevas Fronteras S.A. (23.66%) |
Registered addresses | Moreno 809 2 Piso, Buenos Aires, Argentina |
Ownership Percentage in associates | 23.66% |
Panacon [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Panacon (33.33%) |
Registered addresses | Pan-American Life Insurance Company, 601 Poydras Street, New Orleans, LA 70130, USA |
Ownership Percentage in associates | 33.33% |
President Hotel & Tower Co Ltd. [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | President Hotel & Tower Co Ltd. (30%) |
Registered addresses | 971, 973 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Thailand |
Ownership Percentage in associates | 30.00% |
Tianjin ICBCI IHG Equity Investment Fund Management Co., Limited [member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Tianjin ICBCI IHG Equity Investment Fund Management Co., Limited (21.04%) |
Registered addresses | Room R316, 3rd Floor, Building 6, Binhai Financial Street, No. 52 West Xincheng Road, Tianjin Economy and Technology Development Zone, Tianjin, P.R. China |
Ownership Percentage in associates | 21.04% |
Sustainable Luxury Gravity Global Private Limited [Member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | Sustainable Luxury Gravity Global Private Limited |
Registered addresses | B-11515 Bhikaj Cama Place, New Delhi, South Delhi, India, 110066 |
Ownership Percentage in associates | 51.00% |
SURF Samui Pte Ltd [Member] | |
Disclosure of Composition of Group [Line Items] | |
Associates | SURF-Samui Pte. Ltd |
Registered addresses | 168 Robinson Road, #12-01, Capital Tower, 068912, Singapore |
Ownership Percentage in associates | 49.00% |
Group Companies - Summary of _3
Group Companies - Summary of Investment in Joint Ventures (Detail) - BCRE IHG 180 Orchard Holdings LLC [member] | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Composition of Group [Line Items] | |
Name of subsidiary | BCRE IHG 180 Orchard Holdings LLC |
Registered addresses | Brack Capital Real Estate Ltd., 885 Third Avenue, 24th Floor, New York, NY 10022, USA |
Ownership Percentage in subsidiary | 49.00% |