Q3 Trading Update to 30 September 2026

Highlights

• YTD global RevPAR +4.6%, with Americas +5.6%, EMEAA +3.7% and Greater China +1.0%
• Q3 global RevPAR +5.3%, with Americas +6.8%, EMEAA +5.0% and Greater China -3.3%
• Q3 global rooms revenue on a comparable hotels basis comprised Groups +10%, Leisure +5% and Business +4%
• Q3 average daily rate +3.9% and occupancy +0.9%pts
• Gross system growth +6.3% YOY and net system growth +4.9% YOY
• Opened 12.9k rooms (92 hotels) in Q3, taking YTD to 44.4k rooms (289 hotels)
• Global system of 1,060k rooms (7,186 hotels)
• Signed 21.1k rooms (164 hotels) in Q3, taking YTD to 70.3k rooms (516 hotels)
• Global pipeline of 353k rooms (2,426 hotels), up +3.2% YOY, and representing 33% of current system size
• $707m of 2026’s $950m share buyback programme completed to date, further reducing the share count by 3.1%
• On track to return over $1.2bn to shareholders in 2026 through share repurchases and dividend payments
• Confident of achieving FY26 consensus expectations, including adjusted EPS around the top end of our growth algorithm target of +12-15% annually on average over the medium to long term

Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, said: “RevPAR growth accelerated in the third quarter to +5.3% as IHG’s breadth by geography, brands and stay occasions captured increasing guest demand around the world. Our US performance was very strong, with growth across all brands. There was very good growth in EMEAA, most notably in Continental Europe and East Asia & Pacific, which included an increase in inbound travel from China. This growth more than offset a broadly flat performance in the Middle East and an easing of RevPAR in Greater China where adverse weather and changes to public holiday timings impacted demand.

We expect another year of record development activity, and for 2026 to be our fifth straight year of accelerating net system growth. In Q3, we opened 92 hotels and signed almost twice as many, with 164 properties added to our pipeline. Development remains split broadly evenly between new builds and conversions, with each of our collection and conversion-focused brands – voco, Vignette, Garner and Noted – continuing their rapid expansion around the world.

Our strong performance to date and continued positive outlook for demand gives us confidence in achieving consensus expectations for 2026. This would mark the third consecutive year of delivering adjusted EPS growth around the top end of our growth algorithm target of +12-15% annually on average over the medium to long term. This is driven by the power of IHG’s enterprise platform and the ability to capitalise further on our scale, leading positions and the attractive long-term demand drivers for travel and hospitality globally.”