Annual Report


Summary of our

Annual Report and Form 20-F 2020

Annual Report
and Form 20-F 2020

Summary of our Annual
Report and Form 20-F 2020

From the Chair

Patrick Cescau, Chair

Reflecting what we’we learnt and what’s needed to succeed in an evolving environment, we entered 2021 with a refreshed strategy."

Patrick Cescau

Chair’s statementPDF

From the CEO

Keith Barr, Chief Executive Officer

Globally, we’ve worked as a team with such speed and compassion – leading, learning and listening to keep colleagues and guests feeling safe, protect IHG and our owners, and support our industry."

Keith Barr
Chief Executive Officer

CEO’s reviewPDF

2020 in review

In an unimaginably challenging year, we worked tirelessly to care for our stakeholders, protect our business and ensure our purpose of True Hospitality for Good was felt even in the toughest of times – all while ensuring we’re ready to grow strongly in a recovery.

Financial performance

Global RevPAR


2019: (0.3)%

Net system size growth


2019: +5.6%

Total gross revenue in IHG's Systema


2019: $27.9bn

Total revenue


2019: $4,627m

Revenue from reportable segmentsa


2019: $2,083m

Operating (loss)/profit


2019: $630m

Operating profit from reportable segmentsa


2019: $865ma

Basic EPSb


2019: 210.4¢

a Use of Non-GAAP measures: in addition to performance measures directly observable in the Group Financial Statements (IFRS measures), other financial measures (described as Non-GAAP) are presented that are used internally by management as key measures to assess performance. Non-GAAP measures are either not defined under IFRS or are adjusted IFRS figures. Further explanation in relation to these measures can be found on pages 47 to 51 and reconciliations to IFRS figures, where they have been adjusted, are on pages 212 to 216.

bAdjusted EPSa 31.3¢ (-90%); 2019: 303.3¢

Where we operate

We operate in more than 100 countries globally.

a Comprises the Group’s fee business and owned, leased and managed lease hotels.

Our brands

Our business model

Through our business model, we predominantly franchise our brands and manage hotels on behalf of third-party hotel owners. As an asset-light business, we focus on growing our fee revenues and fee margins, with limited requirements for capital.


Franchised hotels

(627,348 rooms)


Managed hotels

(253,288 rooms)


Owned, leased and managed lease hotels

(5,400 rooms)

Our strategy

In 2020, we evolved key elements of our strategy to further strengthen our ability to drive future growth. Our ambition to deliver high-quality industry-leading net rooms growth is unchanged, driven by continued investment in enhancing our guest and owner offer and developing our brands at scale in high-value markets.
Over the long-term, with disciplined execution, this drives sustained growth in cash flows and profits, which can be reinvested in our business and returned to shareholders. What has evolved is how we execute against our strategy, in terms of what we prioritise, the behaviours we champion, and the purpose that guides us.

Our culture and responsible business

IHG’s purpose and strategy go beyond a simple hotel stay and shareholder returns. Our focus on doing business responsibly and the way we interact with our stakeholders, helps create a diverse, healthy and inclusive culture and underpins a commitment to make a positive difference to the environment and the communities we’re a part of.