21 December 2017
Impact of US tax cuts and the Jobs Act bill
This announcement contains inside information.
InterContinental Hotels Group® (IHG®) notes the passage of the US tax cuts and Job Acts bill1 (“the bill”) yesterday.
Initial estimates are that, as a whole, the enacted bill will reduce IHG’s group effective tax rate by mid to high single digit percentage points from 1 January 2018. In 2017, IHG’s group effective tax rate is still expected to be in the low 30s.
It is also expected that the measures outlined in the bill will result in a significant, exceptional tax credit in the financial year the bill is signed into law, which would be realised in cash terms over a long period from 2018.
Any updates will be provided at IHG’s 2017 Preliminary Results on 20 February 2018.
1 H.R. 1, “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018”
For further information:
Investor relations (Catherine Dolton): +44 (0)7808 095597
Media relations (Yasmin Diamond; Zoe Bird): +44 (0)7736 746167
IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, Hotel Indigo®, EVEN® Hotels, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn®, Holiday Inn Express®, Holiday Inn Club Vacations®, Holiday Inn Resort®, avid™ hotels, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns nearly 5,300 hotels and more than 785,000 guest rooms in almost 100 countries, with more than 1,500 hotels in its development pipeline. IHG also manages IHG® Rewards Club, our global loyalty programme, which has more than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales. More than 350,000 people work across IHG’s hotels and corporate offices globally.
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