InterContinental Hotels Group PLC

IHG: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 2,358.00	Vtmg	Cnywswr

Marriott, Hilton, and InterContinental: Moats Upgraded to Wide on Brand Strength

Dan Wasiolek

Jan 30, 2024

We have upgraded Marriott, Hilton, and InterContinental’s moats to wide from narrow due to lasting brand edges for each. As a result of longer periods of economic profit in our discounted cash flow models, our fair value estimates increase to $217 from $190 for Marriott, $177 from $159 Hilton, and $84/GBX 6,600 from $74/GBX 6,100 for InterContinental.

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