InterContinental Hotels Group PLC

IHG: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 1,794.00	Zzshp	Qhfzfcsgh

InterContinental Earnings: China Demand a Near-Term Blemish, but the Brand Edge Remains Stout

Dan Wasiolek

Aug 6, 2024

We don’t expect to meaningfully change our $97 and GBX 7,650 fair value estimates for InterContinental (other than for exchange-rate changes since our last update), as weaker near-term China demand is largely offset by the time value of money. We find shares valued appropriately and wouldn’t need much discount to recommend shares of this brand-advantaged company.

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